Please download the circular here cl011for more details.

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Please take note that all should comply on or before July 1, 2012.

Among those revised are the following:

1. The inclusion of statement of policy;
2. Mitigation on business risk;
3. Renumbering and amendments on of sections X180.5, X180.1, X180.2, X180.4
4. Removal of “Role and Responsibilities of the Compliance Function under x180.7
5. Renumbering of Section x180.8, or the Cross Border Compliance Issue and Section X180.9, or the Outsourcing of Risk Compliance Assessment and Testing.

For more details, please download the 6-page PDF file from our Slideshare account.

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“Loans small and micro enterprises which are not specifically exempted from the additional documentary requirements specified under the third paragraph of this subsection shall be exempted from said additional documentary requirement upto 31 December 2014.”

For more details on this, please download the attached pdf file: c746

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http://www.manilatimes.net/index.php/business/top-business-news/16272-big-boost-to-rural-development-initiative

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If amended, rural banks would have additional funds available for borrowers (i.e. farmers, micro-entrepreneurs, fisherfolk) in the countryside.

PDIC President Valentin Araneta with RBAP Directors and Trustees

The commitment to further enhance the country’s banking services in rural areas has received another boost as the Philippine Deposit Insurance Cooperation conveyed its support for the rural banking sector by helping develop a core banking software that will further reinforce  the systems utilized in RBs.  The development of a new system is envisioned not only as a way for RBs to remain competitive, but also bring down operating costs while continuing to strengthen their servicing capabilities.

This technological innovation was discussed between officers of RBAP and PDIC  last January 30, 2011 at the PDIC HQ in Makati City.  Under the Strengthening Programs for Rural Banks, the thrust to technologically improve stems from the fact that RBs play a crucial l role in enhancing financial inclusion by providing affordable loans through improved, yet cost effective services to micro-entrepreneurs and farmers in the countryside.

On of the poignant points mentioned during the get-together is the strategic position of rural banks in helping amalgamate the informal sector in the countryside into the formal financial sector.  Like hitting two birds with one stone, this strategy will not only bolster the national economy, but likewise provide RBs with opportunities for growth.

RBAP officials with DA Secretary Alcala

RBAP officials led by President Ian Eric S. Pama and Executive Director Vicente Mendoza recently held a meeting with Secretary Proceso J. Alcala and Undersecretary Fleta of the Department of Agriculture to discuss measures on how the DA’s office can effectively support and strengthen its’ partnership with  the rural banking industry.   The two parties later agreed to create a technical working group that will study measures on how rural banks, through the help of DA, can further enhance their services.

Aside from President Pama and Exec. Director Mendoza, other members of the RBAP delegation who went to the DA’s office in Quezon City were Reginald Ocampo, Rene Sayo, Daniel Arcenas, Antonio Pasia and Atty. Edward Leandro Garcia.

RBAP-RBRDFI Directors and Trustees

Proponents of the Save the Ifugao Rice Terraces Movement can now count on the support of RBAP as the association recently pledged its intention of donating 25,000 pesos, which will be used to purchase a mechanical grass cutter for the rehabilitation of the terraces.  Members and trustees of the RBAP board unanimously gave their resounding concurrence in helping regain the old splendour of the rice terraces during their monthly meeting last January 20, 2012.

The campaign to Save the Ifugao Rice Terraces is part of a nationwide PWD-project, culminating on February 3-4.  As mentioned in the previous web post, proponents of this undertaking are also encouraging Filipinos and non-Filipinos alike to revive the Bayanihan spirit by volunteering.

The support for the rehabilitation of the Rice Terraces is one of the many notable CSR projects of the Rural Bankers Association of the Philippines.  While RBAP is a not-for-profit advocacy association, helping to position its members as a formidable force within the Philippine national banking system, the association nonetheless never fails to engage and participate in worthy socio-civic activities.

Save the Rice Terraces