Meanwhile, the number of basic deposit accounts reached 7 million with PHP4.8 billion deposits in the first quarter of 2021. As of the first quarter of 2021, the proportion of “banked” Filipino adults have reached 53 percent, nearing the target of 70 percent. These include basic deposit and e-money accounts.
The BSP welcomes the recent issuance of the implementing rules and regulations of Executive Order No. 127, which liberalizes access to satellite services by allowing non-enfranchised but registered Internet Service Providers (ISPs) and Value-Added Service Providers (VASPs) to directly access satellite systems to build broadband facilities.