THE BANGKO SENTRAL ng Pilipinas (BSP) and the Bankers Institute of the Philippines (BAIPHIL) signed a memorandum of understanding (MoU) last month to strengthen their collaboration aimed at enhancing productivity among banks.
The central bank formalized its long-standing partnership with the BAIPHIL by signing the MoU on Dec. 13, 2023 at the BSP’s head office in Manila, the BSP in a statement on Monday.
“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.
Under the MoU, the BSP and the BAIPHIL will work together to develop capacity-building sessions for bank employees, officers, and directors.
The MoU also covers the sharing of subject matter experts and research materials that are non-confidential, the BSP said.
The partnership will also include advocacies for digital finance, financial literacy, financial inclusion, sustainable finance, legislative initiatives, and other reforms.
The BSP and BAIPHIL also agreed on joint research and publications on banking, monetary policy, and economic issues.
The parties also agreed to exchange information on learning and training opportunities and regularly hold consultations on the conduct of seminars, conferences, and capacity-building.
“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,” BAIPHIL President Racquel B. Mañago said. — Keisha B. Ta-asan
