The Bankers Association of the Philippines (“BAP”) has signed a Memorandum of Understanding (“MOU”) with Globe Telecom Inc. (“Globe”), one of the biggest providers of telecommunications services in the Philippines, to form a partnership that will enhance the organization’s efforts in tackling cybercrime. Under the MOU, there will be an intelligence-sharing network between BAP member-banks and Globe that will allow both sides to address the rising volume of financial crimes such as identity theft, phishing, and spam SMS. “We are pleased to enter into this partnership with Globe — one that would enhance the banking ...
Read moreThe Bankers Association of the Philippines (BAP) congratulates presumptive president-elect Ferdinand R. Marcos Jr. as the next leader of our country. “We have a generally peaceful and orderly election that is positive for the economy,” BAP President Antonio C. Moncupa, Jr. said. “On the other hand, there are considerable headwinds facing the economy – geopolitical uncertainties, inflation, and the lingering effects of the pandemic. We wish the new administration well in meeting these challenges,” Moncupa added. The BAP looks forward to working with the incoming administration to ensure a strong, stable, and well-functioning financial system ...
Read moreThe Bankers Association of the Philippines lauds the successful efforts of the National Bureau of Investigation in catching the perpetrators of the “Nagoyo” scam. “We thank the National Bureau of Investigation and the Department of Justice, for their successful collaboration in holding cybercriminals accountable for what they have done. Their actions demonstrate that cybercriminals will never go unpunished for victimizing the Filipino banking public and stealing their hard-earned savings,” Jose Arnulfo A. Veloso, President of BAP, said. “The BAP and its member banks are fully confident in the capabilities of our law enforcement and judicial ...
Read moreThe Bankers Association of the Philippines supports the National Government’s Philippine Sustainable Finance Roadmap led by the Department of Finance and the Bangko Sentral ng Pilipinas. Sustainable finance is a major keystone in our efforts to protect the environment and promote economic growth as long-term green investments will not just conserve our natural resources, but are envisioned to create jobs for the Filipino people. The Philippine banking system has proactively taken steps to promote sustainable finance. Since 2017, seven local banks have already issued more than $1.15 billion of green, social, and sustainability bonds, a ...
Read moreMembers of the Bankers Association of the Philippines (BAP), the Bangko Sentral ng Pilipinas (BSP), and the World Wide Fund for Nature (WWF) convened at an online CEO Forum to examine how to integrate sustainable finance into banks’ post-pandemic business activities. The event focused on the supervisory and regulatory expectations from the issuance of BSP Circular No 1085 or the Sustainable Finance Framework last April 2020. The framework subscribes to high-level sustainability principles and places accountability on the banks’ board and senior management in adopting effective environmental and social (E&S) risk management systems. ...
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