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BSP Calls on Foreign Chambers to Invest in the Philippines' Digital Transformation.

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ENPNewswire-December 29, 2021--BSP Calls on Foreign Chambers to Invest in the Philippines' Digital Transformation

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Release date- 26122021 - The Bangko Sentral ng Pilipinas (BSP) encouraged foreign investors to take advantage of investment opportunities in the country's rapid digital transformation and serve as partners in growth and nation-building.

BSP Governor Benjamin E. Diokno made this call during the Philippine Economic Briefing for Foreign Chambers of Commerce jointly organized by BSP and the Department of Finance.

'As we build our digital finance ecosystem, we encourage foreign investors who may bring advanced technologies and technical expertise to take advantage of untapped potential in the financial services space and be our partners in achieving our economic growth and financial inclusion objectives,' Governor Diokno said.

Based on the BSP's 2019 Financial Inclusion Survey, 71% or 51.2 million Filipino adults have no bank accounts. Moreover, 30.8% of cities and municipalities have no banking offices within their jurisdiction as of 3rd quarter 2020.

By catering to the unserved and underserved, financial technology service providers may tap into a wide client base, diversify revenue sources, and secure new growth opportunities in the country, thereby improving efficiency in banking operations.

The Governor said the introduction of new technology and knowledge transfer will boost the...

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