MANILA, Philippines — The Bankers Association of the Philippines (BAP) has partnered with the Bankers Institute of the Philippines (BAIPHIL) to provide educational courses, enhancing the capability of the industry’s workforce.
BAP president Jose Teodoro “TG” Limcaoco and BAIPHIL president Iñigo Regalado III led the signing of the memorandum of understanding (MOU) to upskill the employees and management of member banks.
“As the banking industry continues to evolve due to changes in the operating environment, there is a need for the industry’s workforce to develop their capabilities to stay ahead,” Limcaoco said.
Limcaoco, who is also president and CEO of Ayala-led Bank of the Philippine Islands, said the agreement with BAIPHIL serves to achieve the upskilling of the industry’s workforce by “ensuring each individual in the industry can maximize their potential in their respective lines of work.”
Regalado, who is also the director of the Capacity Development Department at Bangko Sentral ng Pilipinas, said BAIPHIL looks forward to working with BAP to ensure Philippine banks “remain one step ahead of the curve.”
“The need to upskill one’s capabilities is greater than before, given the ongoing trend of further disruption that would take place in the banking industry. It is likely that the industry five to ten years from now may be entirely different from what it is today,” Regalado added.
Under the MOU, BAP and BAIPHIL will collaborate to conduct capacity-building sessions for the benefit of employees and management of member banks.
The sessions will touch on industry-specific topics including banking laws, rules and regulations; good corporate governance; compliance; risk management; treasury operations; investment banking; trust banking; cybersecurity and financial fraud; sustainable finance; financial services; information technology; technology management; human resource management; accounting and auditing; reporting and records keeping; as well as physical security
In addition, both parties agreed to conduct research on banking, finance and economic-related matters.
Both organizations will also collaborate on projects related to mutually held advocacies such as digital finance, financial literacy, financial inclusion and sustainable finance.
East West Banking Corp. CEO Jerry Ngo, who chairs the BAP Education Committee, said the groups are aligning their “learning and development initiatives with the real and emerging needs of the industry.”
“It is grounded in resilience, digital fluency, and ethical leadership. This is not just about skills training. It is about shaping a generation of professionals who can lead with clarity and purpose in an increasingly complex world. We are proud to work with BAIPHIL in turning this vision into a concrete and sustained program,” Ngo said.
The BAP is the lead organization of 43 universal and commercial banks in the Philippines consisting of 19 local banks and 24 foreign bank branches.
Established in 1949, the BAP was created to frame rules and regulations in cooperation with the Philippine central bank that will increase the efficiency and effectiveness of banking services to the community; work in cooperation with other similar associations as the need arises to achieve this goal; pool and circulate relevant information to members; appear before any legislative, executive or regulatory body and work with any legal body for consideration, formulation, amendment or alteration of any law relating to banks and banking.
On the other hand, BAIPHIL was founded in 1941 as a non-stock, non-profit corporation under the name National Association of Bank Auditors and Comptrollers, primarily with the goal of increasing the efficiency and uniformity in bank accounting, auditing and operations among banks.