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BSP commits to supporting MFIs

THE Bangko Sentral ng Pilipinas (BSP) said it remains committed to support the microfinance sector under its National Strategy for Financial Inclusion (NSFI) 2022-2028. 'Through the NSFI 2022-2028, the BSP remains steadfast in promoting a whole-of-nation undertaking that will enable microfinance to thrive and remain vibrant in the post-Covid-19 economy,' central bank Governor Benjamin Diokno said during a virtual briefing on Thursday.

He went on to say that the central bank sees the potential of digital technology to transform microfinance and that digital loan disbursement and collection, as well as online payment gateways, are gaining popularity.

Bangko Sentral ng Pilipinas Governor Benjamin Diokno. TMT FILE PHOTO