Digital banks to empower MSMEs

Digital banks to empower MSMEs – BSP

By Mayvelin U. Caraballo

Apr 14, 2022 12:17 am

THE Bangko Sentral ng Pilipinas (BSP) believes that digital banks can help empower micro, small and medium enterprises (MSMEs).

MSMEs account for 99.6 percent of total business firms in the Philippines, central bank Governor Benjamin Diokno pointed out during a virtual briefing on Tuesday, but while they are important contributors to the economy, many of them have had difficulties that were highlighted during the pandemic.

Bangko Sentral ng Pilipinas Governor Benjamin Diokno says digital banks can help empower micro, small and medium enterprises. PHOTO BY JOHN RYAN BALDEMOR

Already have an active account? Log in here to continue reading.
Or
Subscribe to the Premium Subscription plan to access this subscriber-exclusive article.

Related Articles

Weaker peso blamed as NG debt tops P16T

Apple Pay, Google Wallet could launch in PH – BSP

Rice imports hit record 4.25 million metric tons

Peso gains but stock market slips

Inflation fight mostly on track – Fed execs

BOI urges Green Lane bill approval

PH still a preferred global IT-BPM provider