Philippine Deposit Insurance Corporation (PDIC) President Valentin A. Araneta and Philippine Judicial Academy (PHILJA) Chancellor Justice Adolfo S. Azcuna renew the PDIC-PHILJA partnership through the 5th run of the Seminar-Workshop on Deposit Insurance, Banking Practices and Bank Conservatorship, Receivership and Liquidation. Also present during the signing of the PDIC-PHILJA memorandum of understanding are PDIC General Counsel Atty. Romeo M. Mendoza, Jr. and PHILJA Chief Administrator Judge Thelma A. Ponferrada.

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 of 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 to enhance the appreciation and understanding of members of the Judiciary of banking jurisprudence particularly on the PDIC mandates.

The 5th Seminar-Workshop was conducted for Regional Trial Court (RTC) Judges in Regions 1, 3 and 4 who are handling Petitions for Assistance in the Liquidation (PALs) of closed banks and those who preside over commercial courts. The nationwide public engagement that began in June 2009 has reached various judicial communities in the National Capital Region, Luzon, Visayas and Mindanao. The first four runs were well-received by the participants with a record-high satisfaction level on the seminar’s content.

The 5th series of the Seminar-Workshop was held November 13 to 14, 2012 at the Century Park Hotel, Manila. Lecturers for the two-day seminar included: Associate Justice Estela M. Perlas-Bernabe (Supreme Court); Dr. George Cheselden V. Carmona (Professorial Lecturer, PHILJA-Commercial Law Department); PDIC General Counsel Romeo M. Mendoza, Jr.; PDIC Vice President Atty. Ma. Antonette B. Bolivar; Bangko Sentral ng Pilipinas Deputy Governor and General Counsel Juan de Zuñiga, Jr.; and Deputy Director Richard David C. Funk II (Anti-Money Laundering Council).

Public engagement with various stakeholders is in line with PDIC’s strategic direction to promote awareness on PDIC’s mandates, depositor protection and financial stability. PDIC and PHILJA expressed optimism that the partnership will cover as much members of the Judiciary.

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 permanent and continuing deposit insurance. Effective June 1, 2009, the maximum deposit insurance coverage is P500,000 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.

PDIC news/press releases and other information are available at the website, www.pdic.gov.ph.