The Philippine Deposit Insurance Corporation (PDIC) and the Philippine Judicial Academy (PHILJA) renewed their partnership to promote depositor protection and financial stability. PDIC President Valentin A. Araneta and PHILJA Chancellor Justice Adolfo S. Azcuna signed on November 8, 2012, a memorandum Memorandum of understanding Understanding (MOU) for the conduct of the 5th Seminar-Workshop on Deposit Insurance, Banking Practices and Bank Conservatorship, Receivership and Liquidation. The Seminar-Workshop is aimed at to enhancing enhance the appreciation and understanding of members of the Judiciary of banking jurisprudence particularly on the PDIC mandates.Read More
The Philippine Deposit Insurance Corporation (PDIC) announced that the Philippine Postal Corporation (PPC) started mailing the payment for valid savings deposit accounts with balances of P15,000 and below maintained with the closed Ilocandia Community Bank, (Icom Bank) on December 4, 2012, twelve days after the bank’s closure on November 22, 2012.Read More
Customs Commissioner Ruffy Biazon today (December 6, 2012) led the filing of criminal charges against five (5) foreign nationals caught by alert Customs Task Group/Force on Dangerous Drugs and Controlled Chemicals officials while trying to smuggle-in a total of 17.649 kilos of dangerous drugs worth PhP 88,246,145.00 in October this year at the Ninoy Aquino International Airport (NAIA).Read More
Amidst the reforms now being done by the Philippine Shippers Bureau (PSB), Bureau of Customs (BOC) and industry leaders to correct the endemic problem of late, if not undelivered cargoes in the “balikbayan” boxes industry, Customs Commissioner Ruffy Biazon’s call for this industry’s help to raise more revenues for the government was received with optimism by its leaders.Read More
All valid insured deposit claims will be paid
The Monetary Board (MB) placed Rural Bank of Dasmariñas, Inc. under the receivership of the Philippine Deposit Insurance Corporation (PDIC) by virtue of MB Resolution No. 1969 dated November 29, 2012. As receiver, PDIC took over the bank on November 29, 2012.