It is to be noted that some countries have opted to have a PCR only for supervisory purposes, where they cover large credits only. It is also documented that the coverage of adult population by PCR and PCBs varies widely depending on the objectives set by the regulators as well as the prevailing socio-economic condition in these countries.
After all, the BSP’s financial inclusion mission started with microfinance, in the belief that the poor can contribute just as much, if not more, to the country’s growth and prosperity. In closing, we must do things with a greater sense of urgency and efficiency. We must aim higher and strive to reach out to more Filipinos.