Arroyo joins 48th RBAP confab

President Gloria Macapagal-Arroyo will be the keynote speaker at the 48th Rural Bankers Association of the Philippines (RBAP) 2001 National Convention on May 24 and 25 at the Westin Philippine Plaza.

Arroyo is expected to stress on the necessity of microfinancing, countryside development, and the role of rural banks in economic recovery. She is likewise expected to stress the importance of not just a sound rural banking sector by the entire banking industry.

RBAP President Ives Nisce said that they are prepared to pledge their cooperation to join the new administration in steering the nation towards peace and prosperity.

"RBAP is committed in assisting and guiding small communities all over the country to become effective agents in promoting countryside development," Nisce said in a statement.

He added: "Rural banks are expected to lead this campaign by effecting the necessary changes and innovations that will make the Philippine banking sector even more dynamic and effective."

Aside from Arroyo, outgoing Finance Secretary Alberto Romulo will likewise discuss some key changes and policies that could affect the industry.

Bangko Sentral ng Pilipinas (BSP) Governor Rafael Buenaventura will be the guest speaker on Friday, May 25, and he will be taking up matters affecting the banking industry as a whole and the rural banking sector in particular.

A golf tournament will be held on May 23 at the Intramuros Golf Course.

Meanwhile, the BSP Monetary Board recognized the RBAP as the first financial organization to present the microfinance program. It was witnessed by the MB led by Buenaventura.

The program called MABS was formulated in accordance with the General Banking Act of 2000. In fact, seven rural banks have been placed under a MABS pilot program after the successful launching in the Mindanao region. Of the seven rural banks, five are located in Luzon while the two are in the Visayas region.

Nisce said that the 42 rural banks in Mindanao that participated in the MABS program have already reported high repayment rates.

During the presentation, Buenaventura called on the rural bankers to exert extra effort to convince all rural banks to be active in microfinance not only as a poverty alleviation effort or a social commitment, "but as an honest-to-goodness banking program to help develop the countryside and to uplift the lot of the marginalized poor."