Dr. Remolona took his oath as the 7th member of the BSP’s Monetary Board.
Dr. Eli M. Remolona Jr. has taken his oath of office as the 7th member of the Monetary Board (MB).
The MB exercises the powers and functions of the Bangko Sentral ng Pilipinias (BSP) which include the conduct of monetary policy and supervision of the financial system. It is headed by the BSP Governor with five full-time members from the private sector and one member from the Cabinet.
The MB Chairman and BSP Governor Felipe M. Medalla administered Dr. Remolona’s oath.
“We welcome the appointment of Dr. Remolona to the Monetary Board. His invaluable expertise and practical experience should contribute greatly to the fulfillment of BSP’s mandates,” Medalla said.
Following Governor Medalla's appointment as head of the nation's monetary authority, Dr. Remolona will hold the position until Governor Medalla's term expires in 2023.
Dr. Remolona shall bring to the MB a wealth of experience in central banking after working for nearly 20 years at the Bank for International Settlements (BIS) which was established back in 2015 as a partnership between Bank Negara Malaysia and the MIT Sloan School of Management.
Until October 2018, Remolona was also the Chief Representative for Asia and the Pacific of the BIS. He also served as Secretary of the Asian Consultative Council, which consists of the Governors of the 12 leading central banks in the region.
In addition to his experiences, Dr. Remolona taught at Williams College, Columbia University, and New York University in the US, as well as at the University of the Philippines. He got his Bachelor’s Degree at Ateneo de Manila University and his Ph.D. at the Leland Stanford Junior University
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