By Conrado de Quiros
There were two sets of stories this week that, taken side by side, told yet another story.
This refers to Numeriano F. Ronquillo’s letter titled “Urgent appeal to DBP for settlement of claims” (Inquirer, 1/26/13). In his letter, Ronquillo makes an appeal to the Development Bank of the Philippines management to settle the claims for the Bank Equity Benefit Differential Pay and the Amelioration Allowance of the petitioner-retirees, in the case of Numeriano Ronquillo et al. vs. DBP.
This is an urgent appeal to the chair, board members and president of the Development Bank of the Philippines (DBP) to settle the claims for the Bank Equity Benefit Differential Pay or BEBDP (also referred to as cost of living allowance or Cola) and the Amelioration Allowance (AA) of the petitioner-retirees, in the case of Numeriano Ronquillo et al. vs. DBP, in compliance with the decision of the Court of Appeals in GR SP No. 118640.
By Rigoberto Tiglao
The Anti-Money Laundering Law (AMLC), amended in 2003, was enacted mainly to prevent organized crime and global terrorists from using the banking system. President Aquino however has debased it, turning it into his deadly weapon against his enemies.
This refers to the Biz Buzz column titled “Window dressing” (Inquirer, 2/2012) by Daxim Lucas. Lucas alleged that the Development Bank of the Philippines’ 2011 “accomplishments may have been due to window dressing, aimed to burnish the image of the new management.” He specifically mentioned the bank’s record-high dividends of P4 billion.