The newly-inaugurated Bangko Sentral ng Pilipinas (BSP) building, located at Governor Gutierrez Avenue in Barangay Rosary Heights 7 in Cotabato City, reflects economic-financial progress and stability in the Bangsamoro region. (Faisal Camsa Jr./BIO)
COTABATO CITY—The newly inaugurated building of the Bangko Sentral ng Pilipinas (BSP) in Cotabato City is a testament to sustainable economic and financial stability across the Bangsamoro region and nearby areas.
Located in the heart of the city, along Governor Gutierrez Avenue in Barangay Rosary Heights 7, the state-of-the-art BSP building was officially inaugurated on Monday, July 29, 2024.
Bangsamoro Chief Minister Ahod Balawag commended the BSP for its commitment to promoting and maintaining price stability, a strong financial system, and a safe and efficient payment and settlement system, all conducive to sustainable and inclusive economic growth and development in the country.
“We are reminded that our journey towards peace, stability, and prosperity is not without its challenges. […] We are confident that with institutions like the BSP as our partners, we can overcome these hurdles and build a more prosperous future for the Bangsamoro people and future generations,” the Chief Minister said.
He added, “May this building serve as a testament to improving the lives of everyone and a symbol of your determination to support the potential of the Bangsamoro region based on our vision of an empowered, cohesive, progressive, and prosperous region.”
The inauguration coincides with the 75th anniversary of central banking in the Philippines and the 31st anniversary of the Bangko Sentral ng Pilipinas, aimed at boosting the central bank’s financial inclusion and economic and financial learning in the BARMM, apart from further enhancing the BSP’s efficiency in supporting the currency requirements of the region.
Housing the financial and administrative offices, cash operation units, and security management, the BSP Cotabato branch is among the 25 regional offices and branches of the central bank across the country. It serves the currency requirements of the mainland provinces of the BARMM and the nearby areas of South Cotabato, Sultan Kudarat, Sarangani, and General Santos City (SOCSKSARGEN areas).
With an area of 10,604 square meters, the design reflects the next-generation buildings of the BSP, incorporating innovations in green architecture such as a rainwater harvesting system and a sewage treatment plant, promoting BSP’s commitment to environmental sustainability and community support.
Reaffirming the BSP’s commitment to a lasting partnership with Cotabato and the Bangsamoro region, BSP Deputy Governor Bernadette Romulo-Puyat emphasized, “The journey of the BSP Cotabato Branch reflects our unwavering commitment to service.”
“Reflecting the remarkable economic progress of BARMM, our new facility stands as a beacon of modernity and sustainability,” Puyat said.
She added, “We look forward to expanding Islamic banking services, improving access to financial products that follow Islamic principles, and boosting economic progress.”
Meanwhile, Office of the Presidential Adviser on Peace, Reconciliation, and Unity Secretary (OPAPRU) Carlito Galvez, Jr. graced the event and stressed that this facility is not just a physical structure but foremost a testament to the national government’s unwavering confidence in the booming economy of the BARMM and North and South Cotabato.
“Today, we are witnessing a region that is rapidly evolving into a major trading, commercial, and tourism hub not only in Mindanao but throughout the country,” Galvez said.
He added that the BARMM is undergoing a remarkable transformation that can be seen and felt in its vibrancy and dynamism, a manifestation of a spontaneously expanding economy in the region.
“Let it be a reminder to all of us that we are on an incredible journey towards realizing long-lasting peace and sustainable development for all Bangsamoro brothers and sisters and for all Filipinos.”
Cotabato City Mayor Mohammad Ali “Bruce” Matabalao expressed that this institution stands as a testament to hard work and dedication, reflecting the commitment to economic growth and financial stability.
“This building represents hope, opportunity, and a brighter future for all. It serves as the cornerstone for progress, creating jobs, stimulating local businesses, and uplifting lives across our region,” Matabalao said.
Expressing the significant milestones of the BSP Cotabato Branch, BSP Cotabato Branch Acting Area Director Zarinah Aligsao mentioned, “We are not only celebrating a new chapter but a culmination of a journey that mirrors the dynamic transformation of the Bangsamoro region.”
“For almost 40 years, the BSP’s presence symbolizes resiliency, adaptability, and progress. This new building reflects our commitment to continue evolving and ensuring that we provide the highest standard of public service,” Aligsao said.
Moreover, Monday’s launching ceremony was also graced by Monetary Board Member and former Secretary of Finance Benjamin Diokno, Monetary Board Member and former Treasurer Rosaria De Leon, bank managers, local executives, representatives from Bangsamoro ministries, offices, and agencies, men-in-uniform, private and business sectors, and media, among others. (Kasan Usop, Jr./BIO)
