How to apply in Bangko Sentral ng Pilipinas

In order to apply in the Bangko Sentral ng Pilipinas (BSP) you need to apply via online in their eRecruitment Portal, but before you apply you need to know these following reminders:

1. Applicants must be Filipino citizens and must me​et the minimum requirements of the vacant position(s).
2. Applicants should indicate/specify the position key, title of the position applied for, and the name of the
   department/office where the vacancy is.
3. All items should be answered properly and completely, e.g., “inclusive dates (mm/dd/year – mm/dd/year)”, etc.
4. Likewise, applicants should have a soft copy of CSC Personal Data Sheet and Work Experience Sheet at hand to be uploaded to the system for the application to proceed.
5. Applications will be accepted on or before the deadline which is ten (10) calendar days from publication date; applications received beyond the last day of publication will not be acted upon.​​
6. With the ongoing review of the BSP’s student internship program and considering the safety measures implemented in the BSP premises to prevent the spread of the COVID-19 virus, we are not accepting applications for student internship at this time (whether in-person or virtual internship). An advisory shall be posted at the BSP website once restrictions are lifted, allowing resumption of the student internship program (i.e., Student Office Practice) in the BSP.

How to Apply

Interested applicants may apply online thru the BSP Online Recruitment Form (click here)

Or scan this QR Code:

Documentary Requirements

The following documents be on hand and ready once requested:

• O​riginal and 2 photocopies of your:
  • Transcript of Records
  • Diploma
  • Authenticated copy of Civil Service Eligibility report of rating and/or Board Rating Certificate
• Copies of Updated Resume
• 2 Pictures (Passport-size with white background)
• Certificate/s of Employment with Duties & Responsibilities
• Certificate/s of Trainings/Seminars
• PSA copy of Birth Certificate
• PSA copy of Marriage Certificate (if applicable)
• NBI, Police and Barangay Clearances
• Applications will be considered valid for a period of one (1) year. Due to the large volume of applications we receive, only applicants who are shortlisted will be contacted.

For non-BSP employees, interested and qualified applicants may apply online thru https://www.bsp.gov.ph/Pages/AboutTheBank/Recruitment.aspx

Applications will be considered valid for a period of one (1) year. Due to the large volume of applications we receive, only applicants who are shortlisted will be contacted.

Contact Information

• A. Mabini St. cor. P. Ocampo St.,Malate Manila, Philippines 1004
• (+632) 8811-1277 (8811-1BSP)
• bspmail@bsp.gov.ph

​​​​​​History of the Bank

Creating a Central Bank for the Philippines

​​A group of Filipinos had conceptualized a central bank for the Philippines as early as 1933. It came up with the rudiments of a bill for the establishment of a central bank for the country after a careful study of the economic provisions of the Hare-Hawes Cutting bill, the Philippine independence bill approved by the US Congress.

During the Commonwealth period (1935-1941), the discussion about a Philippine central bank that would promote price stability and economic growth continued. The country’s monetary system then was administered by the Department of Finance and the National Treasury. The Philippines was on the exchange standard using the US dollar—which was backed by 100 percent gold reserve—as the standard currency.

In 1939, as required by the Tydings-McDuffie Act, the Philippine legislature passed a law establishing a central bank. As it was a monetary law, it required the approval of the United States president. However, President Franklin D. Roosevelt disapproved it due to strong opposition from vested interests. A second law was passed in 1944 during the Japanese occupation, but the arrival of the American liberalization forces aborted its implementation.

Shortly after President Manuel Roxas assumed office in 1946, he instructed then Finance Secretary Miguel Cuaderno, Sr. to draw up a charter for a central bank. The establishment of a monetary authority became imperative a year later as a result of the findings of the Joint Philippine-American Finance Commission chaired by Mr. Cuaderno. The Commission, which studied Philippine financial, monetary and fiscal problems in 1947, recommended a shift from the dollar exchange standard to a managed currency system. A central bank was necessary to implement the proposed shift to the new system.

Immediately, the Central Bank Council, which was created by President Manuel Roxas to prepare the charter of a proposed monetary authority, produced a draft. It was submitted to Congress in February1948. By June of the same year, the newly-proclaimed President Elpidio Quirino, who succeeded President Roxas, affixed his signature on Republic Act No. 265, the Central Bank Act of 1948. The establishment of the Central Bank of the Philippines was a definite step toward national sovereignty. Over the years, changes were introduced to make the charter more responsive to the needs of the economy. On 29 November 1972, Presidential Decree No. 72 adopted the recommendations of the Joint IMF-CB Banking Survey Commission which made a study of the Philippine banking system. The Commission proposed a program designed to ensure the system’s soundness and healthy growth. Its most important recommendations were related to the objectives of the Central Bank, its policy-making structures, scope of its authority and procedures for dealing with problem financial institutions.

Subsequent changes sought to enhance the capability of the Central Bank, in the light of a developing economy, to enforce banking laws and regulations and to respond to emerging central banking issues. Thus, in the 1973 Constitution, the National Assembly was mandated to establish an independent central monetary authority. Later, PD 1801 designated the Central Bank of the Philippines as the central monetary authority (CMA). Years later, the 1987 Constitution adopted the provisions on the CMA from the 1973 Constitution that were aimed essentially at establishing an independent monetary authority through increased capitalization and greater private sector representation in the Monetary Board.

The administration that followed the transition government of President Corazon C. Aquino saw the turning of another chapter in Philippine central banking. In accordance with a provision in the 1987 Constitution, President Fidel V. Ramos signed into law Republic Act No. 7653, the New Central Bank Act, on 14 June 1993. The law provides for the establishment of an independent monetary authority to be known as the Bangko Sentral ng Pilipinas, with the maintenance of price stability explicitly stated as its primary objective. This objective was only implied in the old Central Bank charter. The law also gives the Bangko Sentral fiscal and administrative autonomy which the old Central Bank did not have. On 3 July 1993, the New Central Bank Act took effect.

Source: Banko Sentral ng Pilipinas