The BSP is honored to sign the memorandum of agreement with PSA that starts the implementation of the “Philippine Identification System (PhilSys) Act.” As you know, this is thirty years in the making. The law is universally-beneficial for Filipinos as it provides “a means of simplifying public and private transactions” through a reliable and nationally-accepted proof of identity.
We should acknowledge the role played by the Government, PTA and the Mobile Operators for achieving this high level of penetration, especially under our existing socioeconomic conditions.