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BSP leads stronger bid towards financial inclusion

BSP Governor Benjamin Diokno (File photo) MANILA - Financial inclusion encompasses not just broader access to financial products but provides opportunities even for people in the lower bracket of society to move up the ladder, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno said Friday. In his speech during the hybrid event held both virtually and physically for the launch of the National Strategy for Financial Inclusion (NSFI) 2022-2028, Diokno said stakeholders defined what financial inclusion is in the local setting when they launched the original NSFI in 2015. He said the initial program allowed greater public and private sector collaboration towards bringing more Filipinos into the formal banking system. These measures allowed previously unbanked Filipinos to open transaction accounts, obtain loans, invest, and purchase insurance products through the formal financial system. "These initiatives have been instrumental in broadening access to essential financial produ

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