The Development Bank of the Philippines has signed an agreement with the Bureau of Customs to automate the collection and remittance of customs fees and charges that are generated through the 17 customs districts nationwide.
DBP President and Chief Executive Officer Emmanuel G. Herbosa said the joint initiative with BoC, along with the Bureau of Treasury and PayMaya Philippines, would use DBP’s online banking system and ensure seamless transfer of funds to state coffers.
DBP is the eighth largest bank in the country in terms of assets and has a branch network of 129 offices and 11 branch-lite units nationwide.
BoC is the second largest revenue earning agency in the national government next to the Bureau of Internal Revenue.
Under the agreement, all collections and payments made in and deposited to DBP will be remitted to a BTr-BoC-PayMaya clearing account.
DBP will also provide additional service through its Digital Banking Portal or DBP2 to enable BTr to conveniently monitor remittance of customs collections.
Herbosa said the joint undertaking is an essential element in the national government’s efforts to shift to digital platforms to increase efficiency and effectiveness in its revenue generation activities.
He said these types of partnerships that involve active private sector participation would be an ideal model for other state agencies seeking to bridge the gaps in their service delivery systems. – Press release
April 19, 2024
