amando m tetangco, jr : crafting a regional agenda for child & youth finance speech by mr amando m tetangco, jr, governor of bangko sentral ng pilipinas ( the central bank of the philippines ), at the asia and the pacific regional meeting on “ child & youth finance ”, manila, 4 december 2012. * * * secretary imelda nicolas of the commission on filipinos overseas ; cyfi managing director jeroo billimoria ; distinguished resource persons ; child and youth representatives callista ( 12 years old ) from indonesia, sam ( 11 years old ) from uganda and jessie from the philippines ; fellow advocates of financial inclusion from asia and the pacific ; our media partners ; special guests, good morning and welcome to the bangko sentral ng pilipinas, the philippine central bank. we at the bangko sentral are happy that you have come to the philippines to discuss child and youth finance in asia and the pacific – where it is said roughly 60 % of the world ’ s youth reside. here in the philippines alone, about half of our total population are young. it is important for our country therefore to ensure that our youth are given proper basic education that will allow them to grow into responsible self - reliant adults. indeed, to us at the bangko sentral, finance education is for everyone. thus, when a 2006 survey indicated that less than 5 % of the filipino youth save regularly, we made a decision to place child and youth finance education high on our agenda. this is important to us. after all, we have roughly 25 million students in both elementary and high school levels. and as philippine national hero dr. jose rizal once said “ ang kabataan ang pag - asa ng ating bayan. ” the youth are the hope of our future. furthermore, the 2006 citibank financial quotient survey indicated that filipinos have a financial intelligence quotient of 47. 8 points, less than half the maximum score of 100. while there were other countries that had lower scores, the result was disturbing for us nevertheless. it was an indication that over the long term our countrymen may miss out on the opportunities that development brings. or worse, be unprepared to weather financial uncertainties that may arise in the future. these results provided us with the strong resolve to broaden and deepen our financial education program. since then, the bangko sentral ng pilip

benjamin e diokno : philippine identification system - paving the way towards financial inclusion speech by mr benjamin e diokno, governor of bangko sentral ng pilipinas ( bsp, the central bank of the philippines ), at the roundtable discussion on " championing and accelerating good digital id for all " during the world bank group / imf annual meetings, washington dc, 17 october 2019. * * * good morning! it is a privilege and honor to be speaking before a chosen group of eminent dignitaries on a very important and growing topic across the globe. the innovation, development and advancement of technologies has ushered us to a new digital world, and reshaped mindsets, perspectives and decisions of government officials and regulators. technologies have greatly influenced the way we go about our normal ways and they continue to do so as we speak. the journey for a national id for the philippines started 30 years ago. but it failed to pass one congress after another. finally last year, the philippine id system act was past last year. and i am happy to announce that on 07 october 2019, we had a milestone as the central bank of the philippines signed the memorandum of agreement ( moa ) with the philippine statistics authority that starts the implementation of the “ philippine identification system ( philsys ) act. the law, which promulgates the policy of the state to establish a single national identification system, mandates the issuance of a unique, non - transferable card to all citizens or resident aliens registered under the philsys. the law is beneficial for all filipinos as it provides “ a means of simplifying public and private transaction ” through a reliable and nationally - accepted proof of identity. having this proof of identity has far - reaching benefits, particularly in promoting financial inclusion. with the “ philippine id ”, unbanked filipinos will have a proof of identity which is a key requirement in opening a bank account. it will be easier for unbanked filipinos to open bank accounts and avail of financial services — a win for our financial inclusion agenda. this will enable more of our marginalized countrymen to enjoy gains from and participate more actively in the country ’ s growing economy. as such, the central bank of the philippines is glad to take part in this game - changing reform as we join the other countries in providing a foundational platform for the delivery of services. the central bank of the philippines, as the national security printer for the philippine currency, has the