BSP, DOLE hold financial forum for the labor sector

The Bangko Sentral ng Pilipinas (BSP), together with the Department of Labor and Employment (DOLE), held the Financial Inclusion Forum for the Labor Sector on 18 November 2019 at the BSP Complex in Manila.

The forum was geared toward promoting awareness on financial inclusion, digital payments and the developments in the financial services industry that can enhance workers’ welfare.

Specifically, the forum highlighted the benefits of using a transaction account – i.e., a bank account or an e-money account – considered as a gateway to a whole range of other digital financial services, including credit, insurance, payments and investments.

The forum featured speakers from the BSP as well as GCash, PayMaya, Cebuana Lhuillier Rural Bank and Union Bank who introduced their innovative product offerings suitable for the workers and their employers.

More than 150 participants from various employer and worker groups, including associations of informal workers and kasambahays, participated in the Forum.

The Forum is the first project of the DOLE as member of the Financial Inclusion Steering Committee (FISC), the 19-member strong interagency body that provides strategic direction, guidance, and oversight in the implementation of the National Strategy for Financial Inclusion (NSFI).

DOLE became a member of the FISC in September 2019.