State of Financial Inclusion in the Philippines

Abstract:

As the Bangko Sentral ng Pilipinas (BSP) brings its financial inclusion agenda to new heights, an increasing number of questions are being asked about the inclusiveness of the Philippine financial system –from the most fundamental: “How many Filipinos have access to formal financial services?”, “Is financial access translating into actual usage?” to the more complex:“
Are existing financial products relevant, of good quality and responsive to the needs of financial consumers?”, “Does financial inclusion make a positive difference on the lives of the Filipino people?”

It can be observed that Eastern Visayas and ARMM consistently belong to the bottom group in all the financial access indicators. If reach of the financial infrastructure is to be intensified, these two regions deserve priority attention.

Info
Source InstitutionBangko Sentral ng Pilipinas
Source URLhttp://www.bsp.gov.ph/downloads/Publications/2013/Financial%20Inclusion.pdf
Page Count36
Place of PublicationManila
Original Publication DateJanuary 1, 2013
Tags tate of Financial Inclusion