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BSP chief seeks to boost financial inclusion

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DESPITE the rapid growth of the Philippine economy in recent years, a large number of Filipinos still have no meaningful access to the formal financial system—a situation that makes it more difficult for them to move up the socioeconomic ladder and also leaves them vulnerable to scams.

Thus explained Bangko Sentral ng Pilipinas Governor Amando M. Tetangco Jr., who said that regulators would renew their drive toward greater “financial inclusion” in the country in his last 11 months in office.

“The need is really great,” he said in an interview with the Inquirer Friday evening. “There is no limit to what can and should be done to improve the situation, but there is a limit to what we can realistically achieve in terms of the time that we have.”

For more on this story visit the following link: BSP chief seeks to boost financial inclusion
Source: Inquirer

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