Nasa 700 delegado mula sa 70 bansa, nagsama-sama para sa 2023 Alliance for Financial Inclusion Global Policy Forum

Transcript

00:00 700 delegates from 70 countries joined the 2023 Alliance for Financial Inclusion Global Policy Forum.

00:10 The aim of this forum is to discuss how to make financial products safe and accessible to everyone.

00:18 The forum also discussed various issues on digital technology, green finance, gender gap, and the role of financial inclusion.

00:27 According to the report, 1.4 billion people worldwide are considered excluded or have no access to the formal financial system.

00:37 That is why the Central Bank of the Philippines is pushing programs on financial inclusion

00:43 to alleviate the difficulties of some of our fellow Filipinos.

00:47 The BSP is also discussing with the Bankers Association of the Philippines

00:52 to remove the cost of small bank transactions.

00:57 In general, when it comes to payments, you want to make sure that the poor don't subsidize the rich.

01:05 If you have a credit card and if you're a big spender on credit cards, you get rewards.

01:10 Guess who pays for those rewards?

01:13 It's the small guys who only charge small amounts in their credit cards.

01:20 So that's one thing we're trying to push for.

01:23 We're in discussion with the BAP, in fact, later this week on those things.

01:31 One more thing about the payment system is not only don't we want the poor to subsidize the rich,

01:38 we also want the system to be transparent.

01:42 [MUSIC PLAYING]