In fact, I am delighted that we central bankers in the Pacific have taken this bold step to strengthen our research capacity, which is evident by the high-level attendance today, of representative central banks from the region.
We will also foster competition among banks to reduce remittance charges as well as transparency to encourage overseas Filipinos to use the banking system. We will continue to push for the development of the capital market, the expansion of microfinance, and the promotion of financial literacy.