In response to these findings, it is proposed that PASA membership be expanded to include non-bank participants in the national payment system and that arrangements be put in place to enhance the effectiveness of PASA. The SARB intends to continue interacting with a wide range of stakeholders as we work alongside PASA towards further improving the functioning of the national payment system.
Our journey has not been without its challenges, but together we have managed to transform the BSP closer into a truly world-class central bank. The signs say we are on the right path: Just this April, the BSP was hailed at the Asian Banker Leadership Achievement Awards as the Best Macroeconomic Regulator in the Asia Pacific Region.