BSP honors outstanding partners at annual ceremony

By Francis Allan L. Angelo

The Bangko Sentral ng Pilipinas (BSP) celebrated its 30 outstanding institutional partners at the 2024 Outstanding BSP Stakeholders Appreciation Ceremony (OBSAC) held on August 2 at the BSP Head Office in Manila.

BSP Governor Eli M. Remolona, Jr. led the event, highlighting the critical role of these partners in supporting the central bank’s mission.

“As we bestow our latest set of awards, we recognize that the two decades of OBSAC are evidence of the rare community of partners that the BSP is blessed with. We hope you, our partners, take pride in the role you play in the BSP’s efforts to provide an enabling environment for growth,” Governor Remolona said.

Since its inception in 2004, OBSAC has recognized partners that help the BSP ensure price stability, financial stability, and a safe and efficient payments system.

The ceremony also honored partners promoting the BSP’s special advocacies, such as financial inclusion, digitalization, proper handling of banknotes and coins, and cyber hygiene.

Notable awardees included the Bank of the Philippine Islands (BPI) for maximizing the use of the Cash Service Alliance (CSA) in fit currency recirculation, and BDO Unibank for being the primary source of fit notes among banks participating in the CSA facility.

The Land Bank of the Philippines was acknowledged for its support in circulating 1000-Piso polymer banknotes and serving the needs of Pantawid Pamilyang Pilipino Program beneficiaries.

Sterling Bank was recognized for sourcing 94.78% of its total currency requirements through the CSA, the highest among participating banks.

SM Retail, Inc. received accolades for its contributions to the BSP’s Coin Deposit Machine Project, which addresses coin shortages and ensures the availability of legal tender currency.

The InstaPay Automated Clearing House Steering Committee and Philippine Payments Management Inc. were lauded for their role in enhancing InstaPay services, while the PESONet Automated Clearing House Steering Committee and Philippine Payments Management Inc. were praised for implementing PESONet regulations, supporting the BSP’s retail payments system.

The Philippine National Police’s Anti-Organized Crime Unit and Anti-Cybercrime Team were recognized for their efforts in combating currency counterfeiting and cybercrime.

The Department of Trade and Industry’s Business Name Registration Division and local government units of Alaminos, Pangasinan, and Maria Aurora, Aurora, were also honored for their contributions to consumer protection.

Governor Remolona emphasized the importance of these partnerships, stating, “The awards underscore the collaborative efforts essential in achieving the BSP’s goals and ensuring economic stability and growth.”

The ceremony will be followed by similar events recognizing outstanding partners in North Luzon, South Luzon, Visayas, and Mindanao.