The Bangko Sentral ng Pilipinas (BSP) and the Bankers Institute of the Philippines (BAIPHIL) formalized their long-standing partnership recently with the signing of a memorandum of understanding (MOU) last December 18 at the BSP Head Office in Manila.
BSP Governor Eli M. Remolona, Jr. and BAIPHIL President Racquel B. Mañago shake hands after signing a memorandum of understanding (MOU), covering collaboration on productivity enhancements for banks through research, information, and education. Also present at the MOU signing were BSP Senior Assistant Governor and General Counsel Elmore O. Capule, and BAIPHIL Second Vice President Shirley G. Felix.
“The collaboration of BSP and BAIPHIL will go a long way in reaching out to our common stakeholders by providing support to banks toward productivity enhancement through research, information exchange, and education,” BSP Governor Eli M. Remolona, Jr. said in a press statement.
BAIPHIL President Racquel B. Mañago, for her part, declared, “This MOU commits us to work together more closely toward our common goal of professional development for banking professionals, financial literacy, and financial inclusion for the underserved and unbanked.”
The MOU covers joint activities, such as capacity-building sessions for bank employees, officers, and directors; and the sharing of subject matter experts and non-confidential research materials.
Collaboration to help strengthen digital finance and financial literacy in PH
The collaboration will include advocacies, such as digital finance, financial literacy, financial inclusion, sustainable finance, legislative initiatives, and reforms.
In addition, the Philippine central bank and BAIPHIL also agreed to carry out joint research, studies, and publications on banking, monetary, and economic issues and topics; to exchange information on learning and training opportunities; and to hold regular consultations and meetings on the design and conduct of seminars, conferences, training and capacity building, research, and joint advocacies.
After the MOU signing, the following BSP senior officers were also inducted as new members of BAIPHIL:
- Jayzle D. Ravelo, Human Resource and Organization Development Managing Director;
- Asma A. Panda, Office of the General Counsel and Legal Services (OGCLS) Deputy General Counsel and Senior Director;
- Mina G. Tiongson, Financial Supervision Department III Director;
- Joseph B. Salud, OGCLS Bank Officer VI; and
- Jeniessa S. Espinosa, Economic and Financial Learning Office Bank Officer V
The BAIPHIL was first founded in 1941 as a non-stock, non-profit corporation under the name National Association of Bank Auditors and Comptrollers (NABAC), primarily to increase the efficiency and uniformity in bank accounting, auditing and operations among banks.
Its founding members were the Philippine National Bank, First National City Bank (now Citibank), Philippine Trust Company, Agricultural and Industrial Bank (now Development Bank of the Philippines), Bank of the Philippine Islands, Monte de Piedad & Savings Bank, and China Banking Corporation.
Today, it serves as the leading institute supporting the banking industry in advocating good governance and enhancing capability through continuing education, research and information exchange. Its vision is to be the leader in pursuit of banking excellence, aiming to be one of the best in the Asia-Pacific Region.