BIS Review 74/2006  1  In response to this need, BSP has undertaken the following: created specialized supervision units such as that for information technology; issued Circulars to guide the development of electronic banking as well as to ensure consumer protection and awareness; and adopted international best practices to keep us at par with the rest of the world.
The increasing interdependencies of banking, telecommunications, and information technology, pose a challenge for BSP to continuously adapt to a rapidly evolving technological and business environment. Nevertheless, with the support and cooperation of all stakeholders, such as Globe and Innove….I am confident our vision of a globally competitive financial industry will be realized, eventually.