BSP and BAIPHIL Forge Stronger Ties with New MOU

BSP and BAIPHIL Forge Stronger Ties with New MOU

by January 8, 2024

The Bangko Sentral ng Pilipinas (BSP) and the Bankers Institute of the Philippines (BAIPHIL) have recently strengthened their collaboration. At the BSP Head Office in Manila, the two institutions signed a memorandum of understanding (MOU), marking a new chapter in their longstanding partnership.

Eli Remolona

Eli M. Remolona, Jr

BSP Governor Eli M. Remolona, Jr. emphasised the importance of this collaboration, stating,

“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.”

BAIPHIL President Racquel B. Mañago

Racquel B. Mañago

Echoing these sentiments, BAIPHIL President Racquel B. Mañago highlighted the objectives of the MOU, saying,

“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.”

This aligns with the shared vision of both BSP and BAIPHIL to address the needs of various stakeholders in the financial sector.

The MOU entails several collaborative initiatives, including capacity building for bank employees, officers, and directors, and the exchange of subject matter experts and research materials. Additionally, it encompasses advocacies in digital finance, financial literacy, financial inclusion, sustainable finance, and various legislative initiatives and reforms.

Furthering this partnership, the MOU also involves joint research, studies, and publications on banking, monetary, and economic issues. Regular consultations and meetings will be held to design and conduct seminars, conferences, training, capacity building, research, and joint advocacies.

In conjunction with the MOU signing, several senior BSP officers were inducted as new members of BAIPHIL, including Human Resource and Organization Development Managing Director Jayzle D. Ravelo, and Economic and Financial Learning Office Bank Officer V Jeniessa S. Espinosa.

This development marks another step in the collaborative efforts between BSP and BAIPHIL, aimed at enhancing professional development, financial literacy, and inclusion initiatives in the Philippines.