Benjamin E Diokno: Towards the implementation of a robust Philippine ID system Speech by Mr Benjamin E Diokno, Governor of Bangko Sentral ng Pilipinas (BSP, the central bank of the Philippines), at the MOA Signing between PSA and BSP on the Philippine ID, Manila, 7 October 2019. * * * Undersecretary, National Statistician and Civil Registrar General Claire Dennis S. Mapa; fellow civil servants from the Philippine Statistics Authority and Monetary Board Members, Deputy Governors and colleagues from the Bangko Sentral ng Pilipinas; distinguished guests, ladies and gentlemen, good afternoon. The BSP is honored to sign the memorandum of agreement with PSA that starts the implementation of the “Philippine Identification System (PhilSys) Act.” As you know, this is thirty years in the making. The law is universally-beneficial for Filipinos as it provides “a means of simplifying public and private transactions” through a reliable and nationally-accepted proof of identity. Having this proof of identity has far-reaching benefits, especially in promoting financial inclusion. With the “Philippine ID,” unbanked Filipinos will have a proof of identity which is a key requirement in accessing formal financial services. This will enable more of our underprivileged countrymen to enjoy gains from and participate more actively in the country’s growing economy. As such, the BSP is happy to take part in this undertaking. Under the MOA, the BSP shall produce one hundred sixteen million pieces of blank cards for the Phil ID for three years. We will also provide needed equipment and space for the embedding of personal information onto the blank cards, which will be done by the PSA. With this Philippine ID, the BSP widens its area of cooperation with PSA. While our numbercrunching agencies have a long history of interaction on statistics, the production of national IDs is a trailblazing field for both institutions. With this, the BSP looks forward to working with the PSA in bringing the vision of Philsys into reality. Maraming salamat po and good afternoon to all. 1/1 BIS central bankers' speeches