BSP launches financial inclusion website

THE BANGKO SENTRAL ng Pilipinas (BSP) has launched a website to promote financial inclusion.

The website will serve as a “one-stop shop for financial inclusion news and resources, making relevant economic and financial information accessible to consumers, industry players, regulators, and other stakeholders supporting the effective implementation of the National Strategy for Financial Inclusion (NSFI),” the central bank said.

The project was developed by the Financial Inclusion Steering Committee. The committee was established in 2016 to implement initiatives under the NSFI.

“The website, as you have seen, will have comprehensive content on financial inclusion and financial health from partner government agencies, financial service providers, and other supporting institutions,” BSP Governor Eli M. Remolona, Jr. said during the launch on Wednesday.

The BSP also said the public can “submit blog posts or videos to share their stories related to financial inclusion” on the website.

“Our hope is that making financial inclusion information more easily accessible, this empowers and inspires our countrymen,” Mr. Remolona said.

Through the NSFI, the government aims to promote digital finance, strengthen financial education and consumer protection, enhance access to risk protection and social safety nets, and enhance the agriculture and micro, small, and medium enterprise financing ecosystem.

“We hope the information and stories on the website inspire everyone, those who need it and those who can help provide it, to work together to advance the whole country’s journey toward financial inclusion and financial health,” the BSP chief said.

“Financial health is a newer aspiration beyond financial inclusion. It means you don’t have to have a bank account, but can still meet financial obligations, save and invest for the future, and bounce back in case of shocks.”

The share of Filipinos with bank accounts reached 65% of the adult population in 2022. The BSP wants at least 70% of adult Filipinos to be part of the formal financial system. — Luisa Maria Jacinta C. Jocson

BSP launches financial inclusion website
Philippines Pandemic