Malacañang approves circular on national strategy for financial inclusion

The Office of the President has issued Memorandum Circular No. 97 dated 23 June 2022 institutionalizing the whole-of-government support for the implementation of the NSFI 2022-2028 and the adoption of financial inclusion as a development agenda at both the national and subnational levels.

“On behalf of the Financial Inclusion Steering Committee (FISC), I thank President Duterte and his administration for this valuable support to the NSFI. The signing of this Circular demonstrates the collective commitment in the government to accelerate financial inclusion in the country,” said BSP Governor Benjamin E. Diokno.

The Circular directs all government agencies to support the successful implementation of the NSFI by incorporating relevant priority initiatives in the agency work programs, policies and budgets.

It also encourages the Regional Development Councils and the Local Development Councils to adopt financial inclusion objectives, targets and programs, in line with the NSFI, in their respective plans.

Local government units (LGUs) are also encouraged to promote financial inclusion in their jurisdictions, particularly through, among others, their capacity development programs and provincial development and physical framework plan.

“Financial inclusion is a whole-of-nation undertaking. It is imperative for all of us, government agencies, regional bodies, LGUs, and the private sector, to work together in ensuring all Filipinos can access welfare-enhancing financial services in line with their needs and capabilities,” added Governor Diokno.

The NSFI 2022-2028 was launched in January 2022 as a shared blueprint to achieve the vision of financial inclusion toward broad-based growth and financial resilience.

It supports the Filipino people’s aspiration for a matatag, maginhawa at panatag na buhay as espoused in both the Philippine Development Plan and the AmBisyon Natin 2040.

The FISC is the interagency governing body that leads the implementation of the NSFI pursuant to Executive Order No. 208 series of 2016.