Our Partners



Bangko Sentral ng Pilipinas

The Bangko Sentral ng Pilipinas (BSP) is the central bank of the Republic of the Philippines. The BSP is the country’s central monetary authority, which enjoys fiscal and administrative autonomy from the national government in the pursuit of its mandated responsibilities. The BSP’s primary objective is to maintain price stability conducive to a balanced and sustainable economic growth. The BSP also aims to promote and preserve monetary stability and the convertibility of the national currency. It provides policy directions in the areas of money, banking, and credit. It supervises operations of banks and exercises regulatory powers over non-bank financial institutions with quasi-banking functions.

In 2000, the BSP recognized microfinance as a legitimate banking activity and set the rules and regulations for its practice within the banking sector. In the same year, the BSP declared microfinance as its flagship program for poverty alleviation, and has since made substantial progress in promoting microfinance in the banking sector. It has put in place an enabling policy and regulatory environment for practitioners, training and capacity building within the BSP and the banking sector, as well as in promoting and advocating microfinance. These efforts have resulted in a progressive increase in the number of sustainable financial institutions providing microfinance services.

 

http://www.bsp.gov.ph/

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