Remittances and Financial Inclusion: A Policy and Regulatory Approach
18 March 2015
Author / Speaker

The volume of remittance inflows in the Philippines continues to grow. In 2014, remittances channeled through the banking system reached US$24.3 billion, or 8.5% of the country's gross domestic product. The Bangko Sentral ng Pilipinas (BSP) sees this is an opportunity for inclusive growth. It has fostered financial inclusion through policy initiatives that enable more Filipinos to gain effective access to a wide range of financial services that could help them manage unforeseen financial shocks and increase their savings and investments. This presentation features details of the BSP's strategy for financial inclusion.

Disclaimer

The views expressed on this website are those of the authors and do not necessarily reflect the views and policies of the Asian Development Bank (ADB) or its Board of Governors or the governments they represent. ADB does not guarantee the accuracy of the data included in this publication and accepts no responsibility for any consequence of their use. By making any designation of or reference to a particular territory or geographic area, or by using the term “country” in this document, ADB does not intend to make any judgments as to the legal or other status of any territory or area.

Download

Topics

  • Finance