The Colombo Plan Staff College (CPSC), in collaboration with the Banking, Finance, and Insurance Institute of Nepal (BFIN) has arranged and facilitated the meetings and study visits for the Executive Education Program in Manila, from May 15 to 19, 2023. This study visit was participated by two senior banking officials from Sunrise Bank Ltd. Nepal who conducted benchmarking activities from various banks and financial institutions in the Philippines.

This benchmarking activity was designed to incorporate leadership management skills and awareness of the emerging trends, challenges, and strategic directions of Philippine financial and banking institutions in the next few years. The visit also allowed the participants to assess some technological trends and how the Philippines are constantly adapting to the digital environment within the financial sector.

For the duration of the program, the participants were able to conduct a visit to two financial and developmental institutions in the Philippines namely: ASA Philippines Foundation, and the Bankers Institute of the Philippines, Inc. (BAIPHIL).

During the visit to ASA Philippines Foundation, the participants were able to learn about the nature of micro-financing and assets and liabilities management in the Philippines as discussed and shared by the Chief Operations Officer (COO), Ms. Maria Regina Pacifico. She explained the functions of ASA Philippines as one of the leading non-profit, non-stock private institutions in providing small loans and capital build-ups to the impoverished sector in the country, helping them to establish small businesses. The participants also briefly toured the facilities in the institution after the short discussion.

Photos during the study visit in ASA Philippines Foundation (left) and BAIPHIL (right)

In addition, the participants also went to the Bankers Institute of the Philippines, Inc. (BAIPHIL) to understand the dynamics of the work culture in the country post-pandemic. The discussion was facilitated by Mr. Dante Fuentes, President of the Association of Certified Fraud Examiners. He also gave some strategies in corporate governance in the banking industry that the institution is currently implementing. In return, the Nepali bankers also shared some of the good banking practices from their institutions in Nepal and some of the major challenges they are facing given the current trends in digital banking.

Presentation of certificates to the participants during the closing ceremony on May 19, 2023

A closing ceremony was conducted on May 19, 2023 to commemorate the success and completion of the weeklong study visit. This was attended by the participants and the CPSC Director General, Prof. G.L.D. Wickramasinghe, and the faculty members, Governing Board-Engaged Faculty Consultant Dr. Kesavan Ulaganathen, and Senior Faculty Specialist, Engr. Dr. Mian Khuram Ahsan. Certificates of Completion were also awarded to the participants in appreciation of their outstanding participation throughout the five-day program.