BSP reception: Warmup for the Philippines as Asean host

MANILA, Philippines – At the courtyard of the newly refurbished Philippine International Convention Center (PICC), the Bangko Sentral ng Pilipinas (BSP) gave its annual reception a double purpose.

Held on Jan. 23, the gathering—long a fixture on the financial calendar—was nominally for the banking community.

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This year, however, it also functioned as a preview of the upgraded PICC ahead of the Philippines’ hosting of the Association of Southeast Asian Nations (Asean) Summit in 2026, signaling renewed preparations to receive the region’s leaders at a venue that once defined the country’s diplomatic ambitions.

BSP Governor Eli Remolona Jr. led the ceremonial toast under the theme “Innovation, Inclusion, Integrity.”

In brief remarks, Remolona describes the theme less as a slogan than as a guidepost, linking economic growth with financial stability and technological progress with public trust.

Business casual, for a change

Building a resilient financial system, Remolona says, will depend on sustained cooperation across the industry—a message aimed not only at regulators but also at the bankers and corporate leaders in the room.

The evening carried its own quiet departures from custom. For one, the BSP dropped the usual formal dress code, opting instead for business casual.

Many executives arrived in open collars and lighter suits, a subtle shift that softened the formality of an industry more often associated with rigid formality. For the male members of the Monetary Board, this meant a no-necktie night.

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Relaxed attire aside, the guest list reflected the weight of the occasion. The reception drew a cross-section of the country’s most influential business figures, underscoring the central bank’s ability to convene the corporate bigwigs. Among those in attendance were siblings Tessie Sy-Coson and Hans Sy of the SM Group, whose presence added weight to the evening.

Also spotted were Lance Gokongwei, Jonathan Gotianun and Erramon Aboitiz.

In the end, the refurbished PICC served as more than a backdrop. It became a setting for projecting readiness—for Asean, for investors and for a financial system adjusting to new technologies and shifting expectations.

As the evening wound down, the message was clear: the Philippines is ready for Asean, and the central bank intends to show it. INQ