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Bangko Sentral and Russian Federation Compare Microfinance and Mobile Banking Initiatives

04.12.2010

The Bangko Sentral ng Pilipinas led by (from left) Deputy Governor Nestor Espenilla Jr. and Governor Amando Tetangco Jr. welcomed the 12-person Russian Federation delegation led by Secretary of State and Deputy Minister for Economic Development Anna Popova (right)   who are here to observe and discuss initiatives on microfinance and mobile-banking. Russian Federation Deputy Minister of Finance Alexey Savatyugin (third from left) and Mikhail Mamuta, President of the Russian Microfinance Center look on as Governor Tetangco presents a copy of the new BSP text book "Central Banking in Challenging Times: the Philippine Experience" to Deputy Minister Popova. The BSP’s regulatory environment for the microfinance sector has been recognized in a global survey as the best in the world while its pioneering regulations for mobile money transfers have been cited for its potential to reach out to the un-banked to become a useful and efficient channel for inclusive banking.

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