Wednesday 13 December
Powered by Ajaxy
Nov 24, 2017 @ 19:13

86M unbanked Filipinos ‘intolerable,’ Dominguez says


It’s 2017, yet most Pinoys still do not have access to formal bank and lending services.

Finance Secretary Carlos Dominguez III expressed dismay about the huge number of Filipinos who remain unbanked, with 86% still unable to access formal financial channels despite rapid economic growth.

“Over 86 percent of Filipinos remain unbanked to this day. That is an intolerable ratio of the population excluded from the financial mainstream. We aim to reduce that number dramatically over the next few years,” Dominguez said during the 20th anniversary of Maybank Philippines.

“Continuous technological innovation in banking practices will help bring us closer to financial inclusion.”

Dominguez assured that the Duterte administration will be working to democratize services down to the farthest towns and provinces to get more residents on board.

Tags: , , , ,

Related Stories
“Paglilingkuran ko ang aking bayan ng walang pag-iimbot at ng buong katapatan. Sisikapin kong maging
The black market is out, gold is in.
China's loans to Manila show "understanding and sympathy" from the country's newest brother.
This Cabinet official remains confident that growth goals are within reach.


Trending News

Recommended on sister sites

Copyright © 2017 Bilyonaryo -