The Bank Marketing Association of the Philippines (BMAP) welcomes the appointment of Monetary Board Member Dr. Eli M. Remolona, Jr. as the new Governor of the Bangko Sentral ng Pilipinas (BSP).
Dr. Remolona’s extensive international policy experience in central banking, having spent over 14 years at the Federal Reserve Bank of New York and 19 years at the Bank of International Settlements (BIS) will be a pivotal foundation in propelling the country’s strong and resilient economic growth, ensuring its financial stability and sound economic policy framework.
“The BMAP shall continue its unwavering support to the BSP and incoming Governor Remolona in ensuring the growth and development of the Philippine banking industry by promoting best practices in bank marketing and fostering collaboration among its member banks and industry organizations. His appointment ensures that the BMAP’s staunch partnership with the BSP in the areas of Financial Consumer Protection, Cybersecurity and Consumer-Centric Marketing will continue and prosper,” said Mai Gacilo Sangalang, BMAP President.
The BMAP likewise commends Governor Felipe Medalla for his service to the institution and to the country—as central bank Governor since 2017, and prior to that, a member of the Monetary Board since 2011. Under his leadership, the BSP has undertaken stringent measures to manage inflation, sustain non-inflationary growth and ensure a strong banking system as the country fully recovers from the effects of the global pandemic.
“Governor Medalla led the transformation roadmap and reforms of the central bank, including its digitization, promotion of financial inclusion and the sustainable central banking strategy that advocates integration of sustainability principles by banks in the country. He has led the BSP’s policy agenda as the country transitions into a cash-lite society with initiatives charting toward an efficient, inclusive, safe and secure digital payment ecosystem,” Sangalang said.