ADFIAP in DBP good governance council

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DBP governanceUpon the invitation of ADFIAP founding member, Development Bank of the Philippines (DBP), the Association will be represented by its Secretary General, Mr. Octavio B. Peralta, in the Bank’s Multi Sectoral Governance Council (MSGC). The Council, which will serve as an oversight body that will encourage and assist the Bank in realizing its vision and its strategic direction, is composed of at least 12 members from a diverse, multi-sectoral group coming from business, academe, media, civil society and development organizations. Its two key functions are to monitor the performance of the Bank and to utilize its resources and networks to help the Bank move their strategy.

The involvement of external stakeholders is an important component in ensuring that public institutions are responsive to their mandate. The Council aims to promote, among other governance practices, accountability and transparency in reporting organizational performance using the governance scorecards.

DBP holds the distinction of being the first government-owned financial institution in the Philippines to be classified as “initiated” under the Performance Governance Scorecard (PGS) by the Institute for Solidarity in Asia (ISA). DBP is now is the process to be certified as “compliant” under the PGS and accredited as an “Island of Good Governance”.

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