BSP and Financial Inclusion

In 2007, the BSP became the first central bank in the world to hve an office dedicated to financial inclusion. This is in recognition of the importance of financial inclusion and its ability to uplift not only the welfare of many Filipinos, but also its significance to the overall economy of the country.

Initiatives and Regulations on Financial Inclusion

The BSP ensures that an enabling policy and regulatory environment is in place through the issuance of various regulations conducive to financial inclusion. The general approach is characterized by openness to innovations and market-based solutions which can have a transformative role in expanding the scale and reach of financial services.

Financial Inclusion Statistics

Directory of Financial Access Points

Advocacies

The BSP is involved in promoting advocacies that support the financial inclusion priorities set by the Financial Inclusion Steering Committee (FISC) of the National Strategy for Financial Inclusion (NSFI):

National Strategy for Financial Inclusion (NSFI)

External Financial Inclusion Resources and Engagements

An important aspect of the BSP’s financial inclusion work is its participation in various fora to support and sustain global conversation on financial inclusion. The BSP continues its productive exchange of information with relevant agencies and entities to further development of financial inclusion not only in the country but also in the regional and global space.

The BSP Financial Consumer Protection Framework

Circular No. 1048 or the BSP Regulations on Financial Consumer Protection seeks to fundamentally strengthen market conduct practices of Bangko Sentral ng Pilipinas’ (BSP) supervised financial institutions (BSFIs) by establishing guidelines that institutionalize consumer protection as an integral component of corporate governance and culture, as well as risk management.

Consumer Assistance Management System

The Consumer Assistance Management System is an avenue provided by the BSP for financial consumers to escalate their concerns against BSP-Supervised Financial Institutions (BSFIs) when they feel aggrieved by its conduct, products and services, and over-all handling of their issues. The CAMS is also a tool used by the BSP to ensure that BSFIs are responsive to the needs of their clients.

Consumer Assistance Channels and Chatbot

Other Financial Regulators in the Philippines

Financial Products and Services

Common Financial Consumer Protection Issues

As financial consumers gain access to wide range of financial products and services they become vulnerable and exposed to different types of risks such as risks on financial loss, data breaches and identity theft.

Loan Calculator

The loan calculator will help financial consumers shop for the best loan product that banks offer as may be suitable for their needs.

Consumer Assistance Channels of BSP Supervised Financial Institutions

Financial Education

Financial Education Partnership Framework

Financial Education Partnership Programs

Financial Education Stakeholders Expo

Financial Education Learning Modules and Tools

PisoLit

Financial Education and Consumer Protection Campaigns

Financial Education Online Learning

The Economic and Financial Learning Center

The Ec​onomic and Financial Learning Center of the BSP is the focal point of contact of​ the public of information concerning economic and financial matters. Instead of gathering various information from different departments/locations within the BSP, researchers can just visit the EFLC for their information requirements​​​

Online Learning Session

As the BSP’s focal point of contact of the public on information concerning economic and financial matters, the EFLC provides guided group discussion featuring an introductory learning session that orients visitors on the work of the BSP and its role in the Philippine economy through an audio-visual presentation (AVP) and lecture.

EFLC Educational Group Discussion

As the BSP’s focal point of contact of the public on information concerning economic and financial matters, the EFLC provides guided group discussion featuring an introductory learning session that orients visitors on the work of the BSP and its role in the Philippine economy through an audio-visual presentation (AVP) and lecture.