In the process, this innovation in refinancing technology is expected to significantly improve the credit access for exporters and small, medium, and micro-enterprises in this part of the country.
These liberalized rediscounting guidelines, together with the requirement under the Electronic Commerce Act of 2000 for government offices to integrate electronic data documents and processes in their transactions, provided the basis for the development of the e-Rediscounting System. The preparatory work for the paperless rediscounting scheme began in March 2006, with the issuance of BSP Circular No. 515.