“RBAP President’s Report” For 2011-2012 by Ian Eric S. Pama RBAP President
LAUNCH OF REGULAR MEETING BETWEENRBAP AND PDICThe highlight was the formal launch of the regular meeting withthe Philippine Deposit Insurance Corporation in February ofthis year. Led by the heads of both PDIC and RBAP andsupported by their respective directors, the discussionscentered on programs that will further advance the ruralbanking industry such as the Strengthening Programs forRural Banks, SPRB and Investor-Investee helpdesk for rural .
APPROVAL OF THE FOREIGN EQUITY ACT BYTHE LOWER HOUSEThe quest to finally modify the Rural Banking Act in order to allow thefusion of foreign capital into rural banks has finally bore fruit with theapproval of the lower house on amending the foreign equity ceilings inrural banks. With the approval in the second and final reading, thebill has now reached the hallowed halls of the upper chamber of thehouse, with the likes of Senators Angara, Senator Osmena andSenator Marcos supporting the proposal
PCIC AND RBAP MOUIn support of the Food Staples Sufficiency Program (FSSP) of thegovernment, the Rural Bankers Association of the Philippines, inpartnership with the Philippine Crop Insurance Commission signed amemorandum of agreement, with the objective of helping the farmingand fishing communities and, bringing development in the countrysideby means of promoting viable insurance products and services thatmeets the needs of all stakeholders.
PARTICIPATION IN THE NEWLY – FORMED REMITTANCE COUNCILThis Council, is envisioned “to act as an advisory and policy-recommending body that will provide direction to and catalyze thechanneling of individual and collective remittances for development andas a consultative forum to discuss issues and concerns aboutremittances.”
Client Mapping Initiative Consortium Agreementthe Client Mapping Consortium”s aim is to determine the levelof saturation of outreach of Microfinance Opportunities forspecific areas, by participating in a voluntary online researchsurvey and using reports generated using the onlinemethodology. Whatever information generated from theinitiative may be used by the MFIs and even wholesalers forstrategic planning such as avoiding client over-indebtedness,branch expansion and the like.
Formation of TWG on DA projects This TWG, which was discussed during the February meeting between RBAP Directors and DA officers, will look into the relevant DA programs that RBs can participate and, study or review the current AGFP.
Formation of TWG on FRPDuring the April BSPC meeting, RBAP was able to convince BSPto form a TWG regarding the implementation of the FRP; this isin connection with the high number of RBs being penalized bythe BSP for either not submitting on time their FRP reports or,submitting erroneous information.
BSP Philpass Remittance SystemRBAP has been coordinating with the BSP on how the systemcould be offered toRBs. It is envisioned that once RBs embrace this technology, theycan then offer amore competitive pricing, especially when it comes to RemittanceTransactions Processing.
Secured TransactionsLed by the Department of Finance and International FinanceCorporation of the World Bank Group, RBAP, BSP and otherrelevant financial and non-banking financial institutions wereinvited to participate in a series of Technical Working Groupmeetings, the aim of which is to help those without immovablecollaterals gain access to credit from different types of formallenders.
DONATION OF 25 THOUSAND FOR THERESTORATION OF THE BATAD RICE TERACESResponding to the plea of the proponents to halt the completedestruction of the Batad Terraces, the Rural Bankers Association of thePhilippines unanimously approved a resolution during its’ January 20Joint Meeting with the Rural Bankers Research DevelopmentFoundation Inc., donating 25, 000 pesos to help restore the country’spride back to its original splendor.