Inspirational Talk for ARBEX Induction

By Governor Rafael B. Buenaventura

Distinguished officers and members of the Association of Rural Bank Examiners, my fellow Central Bankers, ladies and gentlemen, a pleasant day.

First of all thank you for inviting me to your induction. The management of the Bangko Sentral has always recognized the indispensable role of our rural bank examiners in carrying out its supervisory authority to ensure the safety and soundness of the rural banking system. This is not a small and trivial challenge considering that rural banks are spread out throughout the archipelago. We realize that our rural bank examiners, perhaps much more than the examiners of other types of banks, often have to work under more difficult and varied conditions. In spite of the hardships encountered, rural bank examiners are able to perform their duties with the professionalism required of their position. I believe that the ability of rural bank examiners to withstand any hindrances along the way, is one of the many good influences of the association.

Clearly, ARBEX has reached its seventeen years because it has been effective in meeting the needs both of its membership and the Bangko Sentral as an institution.

As a non-stock, non-profit association, its main purpose of fostering solidarity through camaraderie seems to be well achieved as shown by the sizeable crowd here present to witness the turn over of authority to the newly elected officers. I was informed that ARBEX is also responsible for the establishment of a Credit Cooperative, a lending window for the benefit of the staff of the Department of Rural Banks. This is a worthy project that further improves the welfare of your members.

At this point, please allow me to congratulate the newly elected officers of the association. In their hands lies the Herculean task that will make ARBEX a better and stronger association. I strongly hope that ARBEX will continue to play a constructive role of improving not just the welfare but also the professional standards of its membership.

Keep up the good work.