
BSP COMPLEMENTS BANK REGULATION WITH DIGITALIZATION INITIATIVES.
Read Time:31 Second
Bangko Sentral ng Pilipinas (BSP) Governor Felipe M. Medalla (above) said banking regulationsare accompanied by initiatives that support the country’s shift from a cash-heavy to a cash-lite economy. During a recent conference by “The Asian Banker,” the Governor explained that the BSP is pursuing these initiatives under its Digital Payments Transformation Roadmap. The Roadmap aims to digitalize at least 50 percent of retail transactions volume, and onboard at least 70 percent of Filipino adults into the formal financial system by 2023. During the forum, the Governor also underscored that digitalization is crucial in promoting financial inclusion and economic growth.
###
About Post Author
Diyaryo Milenyo
DIYARYO MILENYO is a free and independent online media outfit that publishes events happening in the local communities and current issues that matter to the public with local, national and global implications. DIYARYO MILENYO is composed of volunteer journalists and community writers scattered in various parts of the Philippines. They report the news right and where it happens. It adheres to the standards and ethics of journalism. It imposes strict rules against attacking someone. Strictly adhering to publish good news only.