To all Compliance Officers
Please be advised that 58 new transaction codes identified by various covered institutions were approved by the undersigned on 15 March 2012, pursuant to an authorization from the AMLC. These additional transaction codes have been incorporated in the AMLC transaction codes library and are available for use by the covered institutions.
Rang-Ay Bank's 21st Branch
To all rural bankers interested in joining the the Annual National Convention in Boracay, please be informed of the latest fare rates approved by Philippine Airlines for RBAP members.
RBAP-RBRDFI invites you to the 19th Microinsurance Basic Training Course. It will be held on April 24 – 25, 2012 at the RBAP Conference Hall, 2F RBAP Bldg., Intramuros, Manila. This training aims to enhance the capacity of rural banks to serve as effective delivery channels for microinsurance services for the low-income clients. It is also designed to ensure compliance to the following regulations:
This is regarding fraudulent/ illegal scheme perpetrated against remittance centers by means of deceit and/or misrepresentation. Due to the recent illegal act that affected one remittance Center (non-bank), all management and personnel should heed the cautionary directives, stipulated in BSP Circular Letter No. 19. As stated in the circular, the perpetrators seem to be targeting young and inexperienced personnel who are easily cowed by “authoritative” characters.
To all authorized BIR Agent Banks, Memorandum 014 of the BSP authorizes said agent banks to render banking services from 9 am to 5 in the afternoon on march 31 and April 14 and; extend banking operations up to 5 pm from April 2 to 15, 2012.
Manila Times —THE Rural Bankers Association of the Philippines (RBAP) is looking to capitalize on the projection of a strong growth in the mobile banking business this year, driven by the continuous flexibility of carriers to adapt according to market needs.
RBAP President Ian Eric Pama said that rural banks will utilize the advantages of cellular phone-based banking in order to hurdle geographical barriers for the industry.
How will the rural banking industry adhere to the principles of corporate governance, in the light of “competing interests of various stakeholders” and key personalities of a corporation? This was the pervading question that the Visayan Management Conference attempted to address as the circular on governance guidelines for BSP supervised financial institutions finally took effect last February. Fortunately, the two-day affair in Cebu, titled “Good Governance: Continuing Challenge for Rural Banks” did just that by directly responding and acknowledging the challenges that affect the foundation of the rural banking industry. Instead of ignoring the issue(s), the speakers and lecturers were upfront in informing the participants’ of the ills that at times plague the sector and, the fundamental values that can help address these issues in order for the industry to rise above and become formidable in the future.
To all rural bankers, directors and management staff who are interested in attending the upcoming convention in Boracay from May 24 – 26, please take note of the following Philippine Airline Blockings and fees. As for the ticketing deadline, you have until the 5th of April 2012 to finalize.
The former executive of the failed Legacy Bank, one of those accused of misappropriating funds of the Rural Bank of Carmen, was finally arraigned in the city of Danao in Cebu after being nabbed in Bohol last month.
Participants and representatives from RBAP-MABS, RBRDFI and SMART with their E-Wallet cards
