We are trying to use BCs to take banking to the people’s doorsteps. The BC model is aimed at reducing the transaction costs of banking services as the cost of regular bank employees is very high, making it difficult to provide low cost banking services to the unbanked poor..
Ang sabi nga ng ating matatanda: “Ang hindi marunong lumingon sapinang-galingan, hindi makara-rating sa paro-roonan.”1 Today’s occasion therefore is not only a tribute to the history of central banking in the Philippines; it is also an invitation for us to reflect on what we have accomplished together and how to move team BSP forward.