benjamin e diokno : message during the launch of pesonet multiple batch settlement message from mr benjamin e diokno, governor of bangko sentral ng pilipinas ( bsp, the central bank of the philippines ), at the launching of pesonet multiple batch settlement, manila, 23 january 2022. * * * a pleasant afternoon to everyone! let me begin by congratulating the philippine payments management, inc. ( ppmi ), the pesonet mbs team, the philippine clearing house corporation ( pchc ), stakeholders in the payments industry and colleagues from the bsp ’ s payments and currency management sector for achieving yet another milestone in philippine retail payment system development : the launch of pesonet multiple batch settlement service or pesonet mbs. about a decade ago, retail payments in the country was dominated by physical cash or checks. to encourage e - payments adoption, the bsp, together with ppmi, embarked on strategic initiatives in building a safe, efficient, reliable, and inclusive payment system. these joint projects were pursued as part of the national retail payment system framework under which pesonet was established. these proactive efforts to lay down interoperable digital payment rails prior to the covid - 19 pandemic turned out to be crucial. digital channels made it possible to carry out essential transactions of households, businesses and the government in the face of mobility restrictions. in fact, a growing volume of pension, social security benefits and government aid have been disbursed digitally through pesonet. in 2021, the value of sss disbursements coursed through pesonet reached p158. 47 billion and there is room for further growth with the launch of these digital initiatives. the numbers showing the use of digital payments and those with financial accounts are encouraging. the bsp exceeded its target of digitalizing a fifth of retail payments by end 2020. along with higher digital payments usage, we also expanded financial inclusion with the increased number of filipinos who opened e - money accounts. by the first quarter of 2021, more than half or 53 percent of filipino adults own a transaction account in a financial institution, a sharp increase from only 29 percent back in 2019. today, we welcome another landmark achievement with the launch of the pesonet multiple batch settlement – an improvement that allows more frequent settlement of pesonet fund transfers, from one to two cycles within a banking day. pesonet recipients will now be able

benjamin e diokno : the road to financial inclusion and sustainable economy speech by mr benjamin e diokno, governor of bangko sentral ng pilipinas ( bsp, the central bank of the philippines ), at the philippine exporters confederation, inc. ( philexport ) 3rd general membership meeting, manila, 16 august 2019. * * * to chairman paterno dizon, dr. sergio ortiz - luis, jr., president, officers and members of philexport ; colleagues from the government ; partners in development ; and distinguished guests : good morning. i am pleased to join you for the 3rd general membership meeting of philexport as we recognize the country ’ s export industry as a key driver of growth and employment generation. i am equally pleased be invited to speak on financial inclusion and economic growth. by bringing financial products to the unserved and underserved, we can empower them and at the same time, nurture economic activity and invigorate static industries by linking businesses to new and untapped markets. i also believe that financial inclusion is vital in bringing about a sustainable economy. for this occasion, allow me to tell you about the bsp ’ s financial inclusion journey, which has been filled by highlights, milestones, and interesting developments. it is, however, by no means a smooth sailing one – we at the bsp are aware of the challenges to serving the financially excluded that persist until today. nevertheless, as i recount bsp efforts and share our current initiatives, i hope you will realize new opportunities for enterprise and collaboration. i also hope to drive the message that our recognition of micro, small, and medium enterprises ( msmes ) lies at the heart of our steadfast push for financial inclusion. the bsp financial inclusion journey started in the 2000s with the adoption of microfinance as a flagship program for poverty alleviation. this was reinforced by the general banking law of 2000 that recognized microfinance as a unique banking activity. when the bsp embraced microfinance as an advocacy, it sought to expand access to credit among the entrepreneurial poor ( e - poor ). the bsp has always believed in the viability of the country ’ s e - poor as a market segment, especially when they are provided with financial products and services appropriate to their needs and capacities. such mindset has led bsp to issue over 40 microfinance - related circulars and foster an enabling regulatory environment