The Bangko Sentral ng Pilipinas wants to boost the proportion of financial transactions done digitally and expand Filipinos’ access to banking services as part of a broader objective to achieve financial inclusion, according to central bank Governor Benjamin Diokno.
It is his “vision” that at least half of all financial transactions in southeast Asia’s second-most populous country are done digitally, and that at a minimum, 70% of the nation’s adult population has financial accounts by 2023, Diokno said in a phone interview. The year 2023 is also when Diokno’s current term ends.
Such objectives are typically uncommon for a central bank, and are usually left to government...
¬ Haymarket Media Limited. All rights reserved.
