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BITC Inks New Agreements to Bolster Industrial Peace

05.19.2015

The Banking Industry Tripartite Council (BITC) has adopted four new resolutions that further enhance labor-management in the Philippine banking industry.

Bangko Sentral ng Pilipinas (BSP) Governor Amando M. Tetangco, Jr. and Department of Labor and Employment (DOLE) Secretary Rosalinda Dimapilis-Baldoz led the signing of said resolutions at the BSP Complex in Manila on May 19.

Signing for the workers’ sector were the leaders of the National Union of Bank Employees, Federation of Free Workers and Associated Labor Unions. Bank management, on the other hand, was represented by the heads of the Bankers Association of the Philippines, the Chamber of Thrift Banks and the Rural Bankers Association of the Philippines.

The Council, co-chaired by the BSP and DOLE, gathers representatives from labor unions, bank management and the government as the forum for nurturing harmonious labor-management relations and tripartite cooperation in the banking industry.

Last December 2011, the BITC signed its landmark resolution where a formal process for mediation and conciliation was agreed upon as well as the handling of the outsourcing of banking functions. The new resolutions build upon the December 2011 agreement by strengthening the BITC organization and by establishing the committee that would handle conciliation and mediation of labor disputes.

In his remarks, BSP Governor Tetangco thanked the institutions and individuals who have invested their time and effort “to make the BITC model work.”

The Governor also highlighted recent developments such as the ASEAN banking integration and the passage of both R.A. 10574 and R.A. 10641 as some of the key evolving issues. Noting that these will create new jobs, he urged the BITC to consider capacity building and financial literacy as key initiatives moving forward.

In concluding his remarks, Governor Tetangco said that “We, at the BSP, truly value the opportunity of collaborating through the BITC. I believe that we have made considerable progress and the platform for dialogue that is the BITC is another continuing milestone that we should always nurture.”

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