Bangko Sentral ng Pilipinas (BSP) Governor Eli Remolona Jr. was conferred an honorary fellowship by the Asian Institute of Chartered Bankers (AICB) on Saturday in Malaysia.
AICB members vowed to harness technology to ensure inclusive and safe banking and sustainable profit growth of private lenders. They also urged banks to fund more green projects.
AICB is Malaysia’s banking professional network, consisting of representatives from the Central Bank of Malaysia, also called Bank Negara Malaysia. It offers professional certifications to bankers to help the industry remain resilient and innovative.
“I am deeply honored to receive this recognition. This fellowship celebrates efforts to advance the financial industry in our region,” Remolona said.
He said collaborations with Southeast Asian central bankers and financial institutions produced meaningful services to less privileged Filipinos, including the QR code payment system and the Nexus cross-border payment system.
“This conferment is a reminder of what we can accomplish together. The future finance is regional and today’s honorees are leading the way,” Remolona said.
QR codes are now being used by public market vendors, public transport drivers, and small entrepreneurs in the country to accept payments from customers without worries of a lack or inexact amount of change.
In July last year, Remolona said the region’s central banks were preparing to pilot Nexus, a digital fund transfer system that allows quick and affordable transactions.
This followed the completion of the Nexus blueprint created by the local central bank, the Central Bank of Malaysia, the Monetary Authority of Singapore, the Bank of Thailand and the Bank for International Settlements.
Sustainable banking
Bank Negara Malaysia Governor Dato’ Seri Abdul Rasheed Ghaffour said the effective and ethical use of artificial intelligence (AI) will help banks attract clients amid the global economic uncertainties caused by Trump’s tariffs and geopolitical tensions.
“The use of AI-powered chatbots and virtual assistants enhances personalized customer experience even without the need to see the branch,” he said.
Ghaffour also advised banks to explore financing client segments related to innovative industries, including data centers, shipping, aviation and aerospace.
“By addressing these gaps, the banking industry can better position businesses to compete effectively in the global stage,” he said.
To support the development of environment-friendly and climate change mitigation projects, Ghaffour added that banks must further study blended financing, which aims to reduce financial losses by combining public, private, and philanthropic funds.
“A report by AMRO highlighted that Southeast Asia will require over $200 billion annually in climate related investments to achieve its net-zero carbon emissions targets,” he said.
