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Biz group wants clarification of non-banking day

By Jovi T. De Leon
Tuesday, June 21, 2011
CITY OF SAN FERNANDO — The Pampanga Chamber of Commerce and Industry Inc. (PamCham) is seeking for clarification on why the City of San Fernando Bankers Association declared a non-banking day last June 15, Mt. Pinatubo Memorial Day, without Malacanang’s announcement.
PamCham is poised to communicate with the Bangko Sentral ng Pilipinas (BSP) regional office here as to why the bankers’ group went on a holiday, which the group’s president Jim Jimenez described was disruptive to business all over the province.
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Reportedly, the bankers claimed they are “an independent body” with rights to such an action.
An official of the bankers’ group told Sun.Star Pampanga that their declaration of the non-banking day was based on a news report that appeared on a national broadsheet on May 27, which said the Provincial Government has declared June 15 a special non-working holiday.
However, Governor Lilia Pineda, in a separate interview on June 13, said Capitol has not issued an official declaration. The same stand was echoed by officials of the City of San Fernando.
House Bill 3948 was filed by Congressman Aurelio Gonzales Jr. and was approved by the House committee on laws. But the bill still has to be ratified at the Senate and then will move to Malacaรฑang for approval.
Irate businessmen branded the move of the bankers as a big blunder, since businesses were open at that time and banks were closed. They said banks were an important component of economic activity and should fulfill their mandate of public service.
“We have a clarificatory letter to the BSP questioning their decision. Although we respect that, it caused confusion. Bakit may bank holiday in the first place? There was no holiday. It was actually us at PamCham advocating for a holiday but when we were informed that it was not, we decided to go on with business as usual,” said Jimenez.
He cited instances where clients had dated checks and other transactions for June 15 that were severely affected by the non-banking day.
“It was even a payday. Many got confused because they were asking where to get cash,” he said.
“What is their right to declare that a holiday? The President did not sign it yet. Maybe they have, or maybe they do not have such a right. We want to be clarified. But we are putting the letter on hold since the bankers requested for an audience with PamCham led by our chairman Levy P. Laus later this afternoon. The main point here is that the declaration of the bankers association has disrupted the normal economic activity. They were gravely misinformed,” Jimenez added.
Meanwhile, BSP official Lou Laconsay said their approval of the request of the bankers’ group for the non-banking day was based solely on the association’s resolution.
“It was late to retract that then because we have to have at least three days to process it,” Laconsay said.
Published in the Sun.Star Pampanga newspaper on June 22, 2011.

Source: http://www.sunstar.com.ph/pampanga/local-news/2011/06/21/biz-group-wants-clarification-non-banking-day-162453

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