BAGUIO CITY (PIA) — Government agencies continue to recognize the valuable role of media in disseminating information that helps in development.
The Philippine Deposit Insurance Corporation (PDIC) conducted “PDIC 101: Understanding Deposit Insurance” forum for media practitioners in Baguio City on October 3, 2024 to promote stability and confidence in the banking system.
PDIC Corporate Affairs Vice President Jose Villaret Jr. discussed the PDIC’s role in the country’s financial system. He highlighted that the PDIC was established to sustain the growth of the financial system by building trust and stability in the system.
“With a better understanding of PDIC, maging kaisa po namin kayo sa patuloy na pagprotekta ng mga deposito sa Pilipinas. The PDIC is the government agency mandated to protect you, and by that we promote stability. PDIC was established to sustain the growth of the financial system,” he said.
“Ang vision ni PDIC is we become a key pillar in promoting stability, we don’t want to be known only as someone that pays depositors when a bank closes, but we are a key pillar in. Our mission is to protect the depositing public, and we promote confidence in the banking system,” Villaret said.
CEO II Catherine San Jose of the PDIC Corporate Communications Department also emphasized the role of media in informing the general public of the importance of deposit insurance in the country’s financial system.
“We, at PDIC, we value the significant role of local media in carrying out our mandate as the deposit insurer of the Philippines,’’ she said.
She is hopeful that the event will help in the promotion of financial stability.
“We hope that through this initiative, you would be able to support our important work of protecting depositors and promoting financial stability. With your accurate and objective reporting, we are confident that you would be able to help us promote greater awareness and understanding of deposit insurance, not just about depositors but for the general public, too,” she said.
This collaborative effort of the PDIC with the Philippine Information Agency aims to educate the media to promote awareness and the enabling of a wider scope for the dispersion of the community’s consciousness on deposit insurance in the country’s financial system, and the importance of saving in banks.
An attached agency of the Bangko Sentral ng Pilipinas created in 1963 by virtue of Republic Act 3591, as amended, the PDIC protects depositors by providing deposit insurance coverage for the depositing public and help promote financial stability. (JDP/CVBT-PIA CAR)
