The Zamboanga del Norte Federation of Rural Banks, headed by Atty. Alan Z. Ranillo, has gathered Representatives from different Rural Banks, companies in support of financial institutions, specialists, and regulators to promote its objective of “strengthening the road of Rural Banking”.
According to Atty. Ranillo, the need for rural bankers to innovate, improve and reinforce its products, resources and its advantages to be able to be more competitive was the main motivation to gather partner institutions to introduce new products and technologies; experts to share their knowledge, experience, and best practices; and regulators to educate about current policies relevant to the industry.
Director Vitto Almario, Vice President for Mindanao of the Rural Bankers Association in the Philippines, reiterated in his speech that the discussions are relevant to cope up with the challenges of competition and regulations that are forever changing the landscape of Rural Banking.
Three notable speakers have opened the conference with a lively discussion. Professor Jacinto G. Gavino talked about effectively managing family corporations; Mr. Jove I. Tapiador presented Compliance and Management Systems; and Mr. Wendell D. Ganhinhin discussed about taxation updates related to Rural Banking.
As for the regulators, representatives from Bangko Sentral ng Pilipinas headed the discussions. BSP Managing Director, Ms. Leny Silvestre, gave an introductory in line with the conference’s theme, “Strengthening the Road of Rural Banking”. This was followed by a discussion of BSP Director, Ms. Gail U. Fule, about Strengthening Program for Rural Banks Plus. BSP Manager, Ms. Maryann Cobe, presented common examination findings and how to address them while BSP Acting Manager gave his take on CAR, DOSRI Loans, SBL, Reporting Requirements and other related matters.
To spur innovation and cope up with competition, partner institutions of Rural Banks take part in promoting their products and services. This includes insurance companies namely Country Bankers Life Insurance Corporation, Pioneer Insurance, Paramount Life and General Insurance Corporation, Manulife, and Commonwealth Insurance Company.
Companies promoting their technological expertise include G-XCHANGE, Inc., who introduced POWERPAY, a Payroll ATM card linked to a G-cash wallet; NG KHAI Development Corporation, who provided a piece of their computer solutions; and SSMI, which advertised their products for security and systems monitoring. Notable ATM teller machine distributors in the country like BANCNET and ENCASH were also present in the conference.
One of the unique features of the conference was the fellowship night. After a long day of discussions and presentations, delegates, speakers, and sponsors were able to take part in the festivities organized by ZNFRB. A tropical buffet dinner was served at the beach followed by an all-white Caribbean inspired party.