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PDIC, PhilJA renew partnership

August 30, 2017

PDIC renews partnership with PhilJA. Philippine Deposit Insurance Corporation (PDIC) President Roberto B. Tan (3rd from left) and Philippine Judicial Academy (PhilJA) Chancellor Justice Adolfo S. Azcuna (2nd from left) seal the Memorandum of Agreement (MOA) they signed via a handshake. The MOA provides for the conduct of seminar-workshops on deposit insurance, banking practices, and bank conservatorship and liquidation for the judiciary. The agreement, signed on August 10, 2017 at simple ceremonies at the PDIC office, was witnessed by PhilJA’s Chief of Academic Affairs Justice Delilah V. Magtolis and PDIC General Counsel Ma. Antonette B. Bolivar.

The Philippine Deposit Insurance Corporation (PDIC) and the Philippine Judicial Academy (PhilJA) on August 10, 2017 renewed their partnership for the conduct of the 9th Seminar-Workshop on Deposit Insurance, Banking Practices, and Bank Conservatorship and Liquidation for the Judiciary through a Memorandum of Agreement (MOA) signed by PDIC President Roberto B. Tan and PhilJA Chancellor Justice Adolfo S. Azcuna at the PDIC office in Makati City.

“The conduct of seminar-workshops is one of the initiatives we undertake to provide our colleagues in the judiciary with a better appreciation of PDIC’s mandate of depositor protection,” PDIC President Tan said. For his part, Justice Azcuna recognized the importance of the sustaining PDIC-PhilJA partnership, which is now on its 8th year. “Our judges should have continuous training because the key to excellence is training,” he said.

Said initiative is rendered more important in light of the effectivity of the amended PDIC Charter last year which granted PDIC enhanced authorities as liquidator of closed banks.

The 9th PDIC-PhilJA seminar-workshop was held on August 15 – 16, 2017 at the Bayview Hotel in Pasay City for Regional Trial Court (RTC) judges from Regions 1 to 3. Past seminar-workshops covered RTC judges in the National Capital Region, Visayas and Mindanao.

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The Philippine Deposit Insurance Corporation (PDIC) was established on June 22, 1963 by Republic Act 3591 to provide depositor protection and help maintain stability in the financial system by providing deposit insurance. Effective June 1, 2009, the maximum deposit insurance coverage is PHP500,000 per depositor. All deposit accounts by a depositor in a closed bank maintained in the same right and capacity shall be added together. A joint account shall be insured separately from any individually-owned deposit account.

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PDIC is a government instrumentality created in
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