Philippines to advance financial health as ASEAN chair

MANILA — The Bangko Sentral ng Pilipinas (BSP) will champion financial health as part of the regional policy agenda when the Philippines assumes the chairmanship of the Association of Southeast Asian Nations (ASEAN) in 2026.

BSP Governor Eli M. Remolona, Jr. made the announcement during a fireside chat held Nov. 11, 2025, at the headquarters of the Bank for International Settlements (BIS) in Basel, Switzerland.

The event, co-organized by BIS’ Financial Stability Institute and the United Nations Secretary-General’s Special Advocate for Financial Health (UNSGSA), featured high-level participants including Her Majesty, Queen Máxima of the Netherlands, BIS General Manager Pablo Hernández de Cos, and Jean-Paul Servais, Chairman of the International Organization of Securities Commissions and the Financial Services and Markets Authority of Belgium.

Financial health, according to the Organisation for Economic Co-operation and Development (OECD), exists when individuals and families are able to manage their financial obligations, absorb economic shocks, pursue goals, seize financial opportunities, and maintain overall confidence in their financial well-being. These outcomes are shaped by a country’s specific socioeconomic context.

“ASEAN should strengthen financial health by expanding access to financial markets such as stocks, bonds, and insurance,” Governor Remolona said during the discussion.

In a separate bilateral meeting with Queen Máxima, Remolona explored potential regional initiatives that the Philippines could pursue during its ASEAN chairmanship to support financial health across Southeast Asia.

The BSP’s planned focus on financial health aligns with growing international efforts to broaden financial inclusion and resilience, especially among underserved populations in emerging markets.