You proactively responded to emerging developments and challenges such as our transition from being a cash-heavy to a cash-lite economy with the implementation of the National Retail Payment System (NRPS)! Salamat sa inyo. Fourth, we remain on course in promoting financial deepening, with measures to further develop the domestic capital and foreign exchange (FX) markets.
We will continue streamlining documentary requirements for FX trade and non-trade transactions. The BSP will likewise issue a circular on FX market governance framework, formalizing policies that promote fair, liquid, and transparent FX market. And we shall continue to pursue meaningful initiatives and partnerships to advance financial education and inclusion, and consumer protection. No one is dropping the ball.