Monetary Board Member Juan De Zuñiga, Jr., who led the awards
ceremony at the BSP Tacloban branch on Tuesday, said the ties are very vital
since the central bank is highly dependent on its partners to gather vital
information.
“BSP formulates monetary and banking policies and in formulating
these policies, we are largely data dependent from all sectors and from all
regions. We appreciate very much your effort because you are doing it to
assists us in doing our work,” Zuñiga said.
The central bank picked TBK Manufacturing as the outstanding
respondent among large and medium firms, while Viguz Construction Corp. was
recognized as the outstanding respondent among small firms for the business
expectations survey in Region 8 (Eastern Visayas).
The National Economic and Development Authority regional office
here received the award for outstanding partner for the report on regional
economic developments and was the recipient of the Gold Hall of Fame award,
after winning the same award category for three consecutive years.
Recognized as outstanding partners in currency programs are the
Security Bank Tacloban Veteranos Branch for clean note policy and Department of
Social Welfare and Development regional office for demonetization of the New
Design Series.
Card Mutually Reinforcing Institutions earned the award for
assisting the BSP on public information drive.
Each awardee received the “Dynamic Balance, Philippine Eagle”
trophy, while the Gold Hall of Fame awardee received the “Soaring to Greater
Heights” trophy, both crafted by visual artist and multi-awarded sculptor,
Ferdinand Cacnio.
The New Central Bank Act approved in 1993 mandates the BSP to
“prepare data and conduct economic research for the guidance of the Monetary
Board in the formulation and implementation of its policies.”
The law gives the central bank the “authority to request from
government offices and instrumentalities, or government-owned or controlled
corporations, any data which it may require for the proper discharge of its
functions and responsibilities.”
“Through your participation, the BSP is better able to formulate
policies towards maintaining price stability, promoting financial stability,
and maintaining safe and efficient payments and settlements system,” Zuñiga
said.
“The BSP organization most thrived in an ecosystem that is
becoming more interconnected. We must understand the dynamics, and more
importantly, recognize that our partnership in these changing times is vital
for our society to flourish,” he added.
Since July 10, the BSP has recognized 164 partners nationwide.
The annual stakeholders’ awards in Eastern Visayas marked the
seventh in a series of 12 regional stakeholders’ events for this year.
It started in Metro Manila and will conclude in Zamboanga on Sept.
25. (SQM/PNA)
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