amando m tetangco, jr : strengthening the bonds of partnership for better education remarks by mr amando m tetangco, jr, governor of the central bank of the philippines ( bangko sentral ng pilipinas ), at the ceremonial turn over to deped of computers under “ tulong barya para sa eskwela ” and teachers ’ guides on saving & money management, manila, 31 july 2007. * * * secretary jesli lapus, monetary board members juanita amatong and alfredo antonio, dr. cielito habito, our other partners from the department of education, fellow central bankers – good morning and welcome to our turnover ceremony with the department of education. i am very pleased that you all took the time to join us in this simple but significant event. a warm welcome to all! today, we see, in very concrete terms, the results of the successful partnership of the department of education and the bangko sentral ng pilipinas. first, we have the symbolic turnover of more than 500 brand new computers from bangko sentral to public elementary schools under the department of education. these computers were funded from the award - winning “ tulong barya para sa eskwela ” the joint program of the deped and the bangko sentral to promote efficient recirculation of our coins by encouraging coin donations for public elementary schools. if you recall, schoolchildren were at the forefront of the campaign, serving as agents of change in their homes and communities in the proper appreciation of the value of coins. over a six - moth period, “ tulong barya para sa eskwela ” generated benefits worth p14. 88 million : p6. 65 million in cash donations from the public which have been turned over to deped and p8. 23 million in coin production savings for bangko sentral. in recognition of the schoolchildren ’ s role in the successful campaign, the members of our monetary board unanimously approved the donation of bangko sentral ’ s entire savings of p8. 23 million through the purchase of computers for public elementary schools. ladies and gentlemen, let us thank our schoolchildren and our monetary board with a round of applause! based on our initial estimates, we would be able to donate 472 computer units from our savings. but because of the close cooperation of our it department, the corporate affairs office, and our bids & awards committee we are getting a total

more comprehensive and responsive manner. to us at the bangko sentral ng pilipinas, this is good news indeed. as one of several core organizations in the banking sector, bmap ’ s continuing advocacy for banking reforms and for strengthening consumer information and protection …. is certain to strengthen our partnership in working toward a responsive and globally competitive banking system. with the economy on the rise and savings rate on the upswing, this is the perfect time for bmap members to take the lead in ensuring that marketing of bank products and services are done in accordance with the good governance tenets of fairness, accountability and transparency. you and i know a bad egg can unfairly spoil and soil the well - guarded reputation of banks. it is imperative therefore that bmap does its share in policing its own ranks in accordance with the standards set in your brainchild that is the “ service code for consumer banking in the philippines. ” this is the only way we can sustain public confidence in the banking system. as bmap itself said : “ bank - client relationship is based on mutual trust, and fair banking practices produce optimum results for both parties. therefore, adherence to high service standards remains to be the primary concern of members of the banking industry. ” i hope therefore that bmap will sustain its efforts in providing truthful, useful information, and responsive service to its clients. i am pleased to note that some of our recommendations are being implemented by some banks. for instance, several atm machines now indicate its fees before a transaction is initiated. i hope that within the year, we would see all atm machines doing the same. as a public service, i also recommend that all banks and its branches prominently display in their premises the names and contact details of bank officers they can call or write to for concerns that remain unattended. i say this because the bangko sentral ng pilipinas has been receiving more and more complaints against banks which do not respond to their queries or request for clarification. ladies and gentlemen of the banking community. listen to your clients …. take care of them … fulfill the promise of service you gave them when you marketed your products and services. you have it in you to facilitate the deepening of our capital markets by nurturing public confidence in the banking system. economic trends to anchor your marketing efforts, i will give you a brief overview of our economy in general and our banking sector in particular. as you all know, our economy