SIXTEENTH CONGRESS )
REPUBLIC OF THE PHILIPPINES )
First Regular Session )

HOUSE OF REPRESENTATIVES

Tntroduced by Representative Rufus B. Rodriguez
Representative Maximo B. Rodriguez, Jr.

House Bill No. 3683
EXPLANATORY NOTE

Al over the world, countries have been “converting” from using paper bank notes to
using plastic bank notes. There are at least 20 countries using plastic bank notes, the first one
being Australia. Other ‘countries include New Zealand, Brazil and Romania. In Asia, countries
tke China, indonesia, Singapore, Malaysia, Brunel and Thalland are all using plastic bank
Hotes, Cariada wil start using plastic bank notes by 2011. It seems that the international trend
now is using plastic instead of paper in manufacturing bank notes.

‘A young businessman from Cagayan de Oro, Heintie Lim, who was in Australia and New
Zealand gave me plastic bank notes from both countries and briefed this representation on the
advantages of using plastic money over paper money.

‘Suidies and reports show that plastic is more beneficial than paper in this case. Flastic
bank notes lasts anywhere from two to five times longer than paper bank notes, performs better
in vending machines, and is harder to counterfeit. And unlike paper bank notes, plastic bank
Mtoe do not shed tiny bits of ink and dust that can disable ATMs by confusing their optical
readers.

Plastic bank notes also stay cleaner and become less grubby than paper money,
because the non-porous surface doesn't absorb perspiration, body oils, or liquids. In fact, the
plastic money is virtually waterproof and can take a lot of ‘abuse. You can bend and twist plastic
eek notes without damaging it. The new plastic bank notes are also less Ikely to spread
disease, because it's harder for bacteria to cling to the slick, non-absorbent surface.

‘acide from these benefits, a country will eventually save more on the production of
plastic bank notes because although more costly to print, their longer life span means that a
country will end up printing fewer bills.

It is high time that the Philippines embrace this trend and start using plastic bank notes
instead of paper so we can also enjoy the benefits of using plastic bank notes

In view of the foregoing, immediate passage of this bill is earnestly requested,

U

RUFUS B. RO! UEZ

eee JR.


SIXTEENTH CONGRESS )
REPUBLIC OF THE PHILIPPINES )
First Regular Session )

HOUSE OF REPRESENTATIVES

Introduced by Representative Rufus B. Rodriguez and
Representative Maximo B. Rodriguez, Jr.

House Bill No, 3689

AN ACT
MANDATING THE BANGKO SENTRAL NG PILIPINAS TO START USING NON-POROUS
POLYMER INSTEAD OF PAPER IN THE PRINTING OF PHILIPPINE BANK NOTES

Be it enacted by the Senate and House of Representatives of the Philippines in Congress
assembled:

SECTION 1. It is hereby mandated that the Bangko Sentral ng Pilipinas start using non-porol’s
polymer instead of paper in the printing of Philippine bank notes: Provided, That all the secutity
measures necessary to prevent counterfeiting be used.

SEC. 2. The Monetary Board shall issue the necessary resolution, as required by Republic Act
7653 or the New Central Bank Act, to implement this Act.

SEC.3. Repealing Clause. - All laws, decrees, orders, rules, regulations or parts thereof
inconsistent with this Act are hereby repealed or amended accordingly.

SECA, Effectivty. - This Act shall take effect fifteen (15) days after publication in any two (2)
national newspaper of general circulation.

Approved,