maximize these opportunities within the framework of the regulations that we have so far put together. closing ladies and gentlemen of the rural banking sector, in an environment that is rapidly evolving, adaptability is key. but adapting to change does not necessarily mean changing your core and losing your relevance. in fact, as the push for financial inclusion continues to intensify, the role of rural banks today is even greater than it was then. you remain to be a key channel to deliver financial services to the countryside especially the unserved and underserved markets. embrace this mission and role which you have been given more than 6 decades ago and nurture it by evolving and adapting to the demands of the times. on our part, we will remain your partner in this important task. this partnership is integral as we work on our shared goal of a stronger, more competitive and more inclusive rural banking sector that can make a positive difference on the lives of the filipino people. i wish everyone a fruitful convention. thank you and good day. bis central bankers ’ speeches

financial regulation can be a useful tool to contribute to the achievement of national and international environmental objectives. in this regard, the bsp has taken a two - pronged approach to sustainable finance : first, in undertaking capacity building and awareness campaigns ; and second, in mainstreaming environmental and social governance ( esg ) through the issuance of enabling regulations. on the other hand, republic act no. 11439, or “ an act providing for the regulation and organization of islamic banks ” mandates the bsp to exercise regulatory powers and supervision over the operations of islamic banks. this will unlock the full potential of islamic financing in fostering inclusive economic growth. with a well - defined legal framework now in 5 / 7 bis central bankers'speeches place, the bsp looks forward to seeing greater participation in islamic financing by both domestic and foreign banks. this is expected to widen opportunities for our muslim brothers in accessing banking products and services. technological innovations in the provision of financial services have resulted in a myriad of benefits to consumers, including faster processing of transactions, convenience, security, and efficiency. this promotes a more inclusive financial system. bsp data indicate that there is much to be done in the area of financial inclusion in the country. the bsp is intensifying its efforts on digital and financial literacy as well as consumer protection, aimed at deepening the public ’ s knowledge of and trust in our banks and digital financial services. last october 2019, the bsp approved the adoption of the national quick response ( qr ) code standard for payments. the qr technology has emerged as the most convenient and costefficient means of moving funds from one account to another. these twin initiatives on qr code standards and the e - filing and payments system or the efps, among others, ensure the efficiency of payment systems in support of inclusive economic development. the bsp ’ s current approach to financial education focuses on digital content creation and strategic institutional partnerships to generate greater multiplier effect and promote costefficiency and program effectiveness. financial education is expected to benefit students with its inclusion in the schools ’ k - 12 curriculum ; overseas filipinos who attend the pre - departure orientation seminar ( pdos ) and post - arrival orientation seminar ( paos ) ; conditional and unconditional cash transfer recipients ; uniformed personnel ; micro, small and medium enterprises ( msmes ) ; and civil servants. meanwhile, the bsp ’ s consumer assistance mechanism also allows the public to seek redress and