Moreover, the BSP took a more proactive stand by creating the Consumer Education Committee in January of this year to help improve basic financial literacy.
I commend BMAP together with the Credit Card Association of the Philippines (CCAP), the Bankers Association of the Philippines (BAP), the Chamber of Thrift Banks (CTB) and the Rural Bankers Association of the Philippines (RBAP) for taking a similar stand and creating a multi-sectoral team for the conceptualization of a service code for consumer banking in the Philippines.