FIFTEENTH CONGRESS )
REPUBLIC OF THE PHILIPPINES )
FIRST REGULAR SESSION )]

HOUSE OF REPRESENTATIVES

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

2652

House Bill No.

EXPLANATORY NOTE

All 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 like China, Indonesia,
Singapore, Malaysia, Brunei and Thailand are all using plastic bank notes.
Canada will 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, Heintje 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.

Studies and reports show that plastic is more beneficial than paper in this
case. Plastic 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 notes 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 bank notes without damaging it. The new


plastic bank notes are also less likely to spread disease, because it's harder for
bacteria to cling to the slick, non-absorbent surface.

Aside 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,

RUFI . oteihice

MAXIMO B. Uf JR.


FIFTEENTH CONGRESS »)
REPUBLIC OF THE PHILIPPINES )
FIRST REGULAR SESSION

HOUSE OF REPRESENTATIVES

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

House Bill No._2652

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-porous polymer instead of paper in the printing of Philippine bank
notes: Provided, That all the security 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.

SEC.4. Effectivity. — This Act shalll take effect fifteen (15) days after publication in
any two (2) national newspaper of general circulation.

Approved,