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MALACAÑAN PALACE
MANILA

BY THE PRESIDENT OF THE PHILIPPINES

[ Proclamation No. 1618, February 16, 1977 ]

DECLARING THE FIRST WEEK OF MARCH OF EACH YEAR AS THRIFT BANK WEEK.

WHEREAS, one of the vital needs of a developing economy is capital to finance various housing, industrial and agricultural projects; and

WHEREAS, thrift banks composed of savings and mortgage banks, private development banks and stock savings and loans associations, operate nationwide and have shown their capabilities in contributing to the national economy, especially in countryside development;

NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers vested in me by law, do hereby declare the first week of March of each year as THRIFT BANK WEEK in order to remind and focus the attention of the citizenry to the active and vital role that thrift banks are playing in our economic development.

I hereby designate the Chamber of Thrift Banks to take full charge of the celebration of this occasion and call upon its membership to participate in projecting its meaningful significance.1aшphi1

IN WITNESS WHEREOF, I have hereunto set my hand and caused the seal of the Republic of the Philippines to be affixed.

Done in the City of Manila, this 16th day of February, in the year of Our Lord, nineteen hundred and seventy-seven.

(Sgd.) FERDINAND E. MARCOS
President of the Philippines

By the President:

(Sgd.) JACOBO C. CLAVE
Presidential Executive Assistant

The Lawphil Project - Arellano Law Foundation

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