Benjamin E. Diokno is now officially the new governor of Bangko Sentral ng Pilipinas (BSP) after being sworn in by President Rodrigo Roa Duterte on Wednesday, March 6.

Present during the ceremony were his wife, Jo Ann Camacho, and son, Antonin Camacho.

Full support
In a statement released to the media, BSP Officer-in-Charge Cyd Tuano-Amador expressed their anticipation for Diokno’s entry as the fifth BSP Governor.

Tuano-Amador said that Diokno brings to BSP a “special brand of leadership honed from decades of exposure to different facets of government operations to improve the lives of Filipino, in cooperation with the private sector, the academe, and various organizations.”

Appeasing doubts
Diokno’s appointment was initially met with concerns. It has been an established practice to select a career BSP official for the position of governorship. By choosing Diokno, President Duterte bypassed three deputy governors.

Such doubts, however, have not fazed Diokno. In an interview with Palace reporters, Diokno explained that the role of BSP is not only to regulate banks but to also make sure that price and foreign exchange remain stable. That, he believes, is his strongest suit after serving under three administrations as Budget and Management Secretary and undersecretary.

Addressing IT concerns
It comes as welcome news that Diokno is putting technology at the forefront of his priorities. In November last year, he spoke positively about blockchain technology and his plans to integrate it with government operations. Then, on his first news conference as BSP Chief, he told reporters that among his top priorities is to strengthen financial institutions’ cybersecurity. “Knowing that IT security has systemic implications, BSP, under my leadership shall continue strengthening its ability to address (these) threats,” Diokno said.

Diokno is expected to serve the remainder of the late Nestor A. Espenilla’s unexpired term which is until July 2023.

Photo credit: Photograph by Axelchard13, distributed under a CC-BY 2.0 license.

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