THE Bank for International Settlements (BIS) and the Bangko Sentral ng Pilipinas (BSP) jointly hosted the Research Conference on Financial Inclusion and Central Banks in Mactan, Cebu, this week.
The high-level conference brought together senior central bankers, leading academics and other experts to discuss key policy issues on financial inclusion. This is the first event the BIS cohosted with the BSP that is focused on financial inclusion.
BSP Governor Amando M. Tetangco Jr. (second from left) said, “Financial inclusion has gained prominence as a global policy agenda as it complements other policy initiatives on reducing poverty, addressing inequality, and promoting financial stability and integrity.”
BIS Chief Representative of Office for Asia and the Pacific Dr. Eli Remolona (third from left) said the BIS, as the global standard-setting body, would want to align reforms with inclusion.
Also at the conference were Bank of Thailand Governor Veerathai Santiprabhob (left), who said financial inclusion is transformative—central banks themselves can participate in making the financial systems more beneficial to the majority of citizens.
Former Governor of the Reserve Bank of India Yaga Venugopal Reddy (right) said financial literacy is relevant for financial inclusion, and also for the broader objective of nurturing an educated public.