With the functioning of the Reserve Bank Committee and the ad hoc Committees it is expected that there would be perceptible improvement in customer services and a simplification of procedures and practices. In order to strengthen regulation and supervision, a ‘Standing Technical Advisory Committee on Financial Regulation’ has been set up. The Committee has representation from banks, SEBI and non-bank financial sector, academics, etc.
Further, the Philippines ranked 1st overall in the area of regulatory framework. Ladies and gentlemen, the survey results reflected the gains we have made together in microfinance. Let us therefore give ourselves a well-deserved round of applause! With the continuing support of all stakeholders, the new policies and programs we have crafted are bound to further expand and deepen our microfinance sector.