Women shaping Phl monetary policy

Women have made significant strides as leaders in the Philippine financial services industry even as challenges continue to persist.

- KEISHA TA-ASAN

At the helm are two distinguished female members of the Monetary Board (MB) – the policy-setting body of the Bangko Sentral ng Pilipinas (BSP) – both of whom are breaking the bias for women in finance.

In July 2020, Anita Linda Aquino was appointed to the MB and made history by becoming the first female banker to assume the position. Along with her is Rosalia de Leon, who was the former national treasurer prior to her appointment in September last year.

“Significant strides have been made in advancing gender equality. I acknowledge the pioneering efforts of those who have elevated women’s rights and issues at home, in the workplace, and as citizens,” Aquino told The STAR.

“I commend the great efforts undertaken by companies and society at large in addressing different issues.”

Aquino had weathered the Asian financial crisis in 1997 during her time at Citibank’s Foreign Exchange Desk. She also hurdled the global financial crisis in 2008 while working at Citicorp Investment Bank Singapore Ltd. in Singapore. Most recently, she was a steady hand at the MB during the COVID-19 pandemic. 

Meanwhile, De Leon has been a first-hand witness of how the BSP advocates for gender equality and women empowerment in the banking industry, especially as the MB, the highest policymaking arm of the central bank, now holds two female members.