Ernest John "EJ" Obiena (Facebook photo) MANILA - National sports associations (NSAs) will continue to directly receive the financial assistance due the athletes but must devise a better disbursement system to prevent another case similar to pole vaulter Ernest John "EJ" Obiena. During the hearing of the Senate committees on sports and finance on Monday, Philippine Sports Commission (PSC) Chair William Ramirez said the direct financial assistance to NSAs will remain. "They will be directed to provide a better mechanism accounting, disbursement and handling so the athlete can focus on training," Ramirez said. The Philippine Athletics Track and Field Association (Patafa) has dropped the 26-year-old Obiena from its rolls and has threatened to file estafa raps against the World No. 5 and charges related to the World Athletics' Integrity Code of Conduct against Ukrainian coach Vitaly Petrov. The case stemmed from Obiena's alleged non-payment of Petrov&#
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