Bangko Sentral ng Pilipinas (BSP)

In 2007, the BSP dedicated an office to financial inclusion, a vital move to eliminating poverty in the Philipines and benefiting the overall economy.

Today,  two billion people are denied access to traditional financial services. Morocco, Vietname, Egypt, Philippines, and Mexico have unbanked populations exceeding 60 percent of their people.

Financial inclusion itself provides only a means to an end, it is not the end. It enables better consumer protection, financial education, better decision-making, and increased wealth.

Seeveral central banks have already clear policies in place to address CBDC and these include the banks in – Brazil, Turkey, Indonesia and the Philippines.

“​ With the signing of Republic Act (RA) No. 11211 on 14 February 2019 amending the BSP’s charter, financial inclusion and its complementary objectives of financial literacy and consumer protection became a mandate for the BSP. The amended charter states “In the attainment of its objectives, the Bangko Sentral shall promote broad and convenient access to high quality financial services and consider the interest of the general public.” BSP

Benjamin E. Diokno

BSP Governor

 

By cryptorocks_editor

Editor.