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Industry leaders push for financial inclusion of MSMEs

Industry leaders are pushing for the financial inclusion of micro, small, and medium enterprises (MSMEs) in the Philippines.

In a hybrid webinar, Bangko Sentral ng Pilipinas Deputy Governor Bernadette Romulo-Puyat noted that opportunities are available for aspiring Pinoy entrepreneurs, but it lacks accessibility. She noted that there is a need for digitalization for the sector, especially for payment and transactions.

She also noted the progress of the country in terms of e-accounts, going beyond savings and credit to cover services like payment, insurance, and remittances, it was seen that 6 out of 10 Filipinos now regularly make online transactions.

“From just being a tool for saving and safekeeping, an account has become a tool for convenient transactions any Filipino can benefit from,” she said.

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