Financial stability and financial inclusion are the two policy issues that are foremost in the minds of regulators today. Concerns have been raised, however, that inclusiveness may undermine stability. Our experience in the Philippines suggests that the two are complementary and promote active market participation among diverse stakeholders.
The inclusion initiatives of the Bangko Sentral ng Pilipinas (BSP) are driven by our firm belief that markets must address the needs of their constituents and not the other way around. In an archipelago of 7100 islands and amid socio-economic diversity, this will be a challenge.
