Given this upbeat scenario, what role do I see for ICT in fostering economic growth? E-reportorial requirements Let me begin with the banking sector. Since the enactment of the e-commerce law in 1999, the BSP has taken to task the promotion of electronic transations. We began by simplifying bank reporting and providing guidelines for the electronic transmission of the same to the BSP.
We have systems in place for the electronic transmission of reports to us not only by the big commercial banks but the thrift and rural banks as well. In order to better appreciate the reports and data gathered from the banks and utilize these to supervise them in a more proactive way, the BSP embarked on a data warehousing project.