In a recent news article from the Philippine Deposit Insurance Corporation (PDIC) website. The Bangko Sentral ng Pilipinas (BSP) issued a P50 commemorative banknotes for public circulation. It has an overprint of the Philippine Deposit Insurance Corporation (PDIC) logo to commemorate PDIC’s golden anniversary.
According to PDIC website, “the P50-commemorative bill was launched during the PDIC-hosted International Conference on “Financial Inclusion: Challenges and Issues for the Deposit Insurer” on June 20, 2013, a gathering of deposit insurance experts from various deposit insurance jurisdictions and multilateral organizations worldwide. Department of Finance Secretary and Chairman of the PDIC Board of Directors Cesar V. Purisima was the Conference’s keynote speaker.
The PDIC is the government entity mandated to provide depositor protection and help maintain stability in the financial system.
BSP issues commemorative bills to observe significant events of national interest. The 50peso commemorative notes is aim to raise public awareness on the PDIC and deposit insurance.”