Our political representatives are finding it hard to mediate between the general interest and particular interests; citizens are receiving conflicting and uncertain signals in this respect. We cannot always ask others to shoulder the burden of reform. All of us must do our share: firms, workers, banks, public institutions.
The BSP likewise supports the Philippine Identification System, which will allow unbanked Filipinos to finally open financial accounts, thereby accelerate financial inclusion. Looking beyond the country’s borders, the BSP and the Monetary Authority of Singapore recently signed an enhanced FinTech Cooperation Agreement to facilitate interoperable payments between the Philippines and Singapore.