The central bank wants to strengthen the country’s rural banking sector, which it believes has an important role to play in bringing credit to the “underbanked” and developing entrepreneurial activities in the countryside.
The Bangko Sentral ng Pilipinas (BSP) has launched a program that aims to strengthen these small financial institutions for them to better provide financial services to rural and agricultural communities.
“The Rural Banking Industry Strengthening Program (RBSP) is part of the BSP’s broader and continuing efforts to boost the resilience of the rural banking industry, which is a key agent of countryside development as it provides financial services to rural communi…
Keep on reading: BSP-led group to propose reforms to strengthen rural banks