Hence in 2007, we 2  BIS central bankers’ speeches  progressed our advocacy from microfinance to financial inclusion. The BSP was among the first central banks to create a unit dedicated to promoting financial inclusion. Our agenda has since expanded because of the conviction that financial inclusion, when done right, supports the BSP’s primary mandates of price and financial system stability.
We have also put equal focus on consumer protection and financial education. In 2012, the BSP institutionalized financial inclusion as a corporate objective with the creation of the Inclusive Finance Steering Committee (IFSC), which I chair. This Committee serves as a seamless mechanism for internal coordination and synergy of various inclusionrelated initiatives that are being implemented by different operating units.