The BSP has also issued six digital banking licenses. The COVID-19 pandemic emerged as a catalyst for digitalization. As a result of the pandemic, the volume and value of electronic payments in the country grew exponentially. The BSP also contributes to the vision of a stronger post-COVID Philippine economy through its sustainable finance agenda.
We have issued regulations requiring banks to incorporate sustainability principles into their operations. We are also among the early investors in the Bank for International Settlements’ Green Bond Fund and the Asian Green Bond Fund. We did not sit idly by as the virus raged. Congress approved three landmark laws that further open the Philippines to foreign investors.