Bangko Sentral Ng Pilipinas to Develop a Digital Finance Ecosystem in Pursuit of Financial Inclusion & Stability

One of the founding members of the AFI network, Bangko Sentral ng Pilipinas (BSP) has been instrumental in nurturing an conducive environment for the delivery of financial products, specifically for the low income and vulnerable segments of society. Turning microfinance into a banking activity that allows 163 banks — mostly rural banks in the countryside — to serve more than 1.71 million microentrepreneurs, BSP is promoting sustainable financial inclusion through market-based solutions.

BSP is setting its sights on digital innovations as a catalyst and strategic enabler for financial inclusion, while building on microfinance regulations that have also facilitated delivery of financial products such as microdeposit and microinsurance.