Enhancing Financial Capability and Inclusion in the Philippines : A Demand-Side Survey
In response to a request of the Bangko Sentral ng Pilipinas (BSP) and as part of a broader engagement on enhancing financial consumer protection and education in the Philippines, the World Bank has implemented a financial capability survey. Financi...
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| Format: | Report |
| Language: | English en_US |
| Published: |
World Bank, Washington, DC
2016
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| Online Access: | http://documents.worldbank.org/curated/en/2016/08/26708570/philippines-financial-inclusion-capability-survey-vol-2-main-report http://hdl.handle.net/10986/25073 |
| Summary: | In response to a request of the Bangko
Sentral ng Pilipinas (BSP) and as part of a broader
engagement on enhancing financial consumer protection and
education in the Philippines, the World Bank has implemented
a financial capability survey. Financial inclusion,
financial literacy and consumer protection are important
priorities for the BSP and the Philippines government.
Consumer protection and education are critical elements in
building an inclusive financial system and BSP seeks to
identify sustainable methods of delivering financial
education through effective partnerships. The proposed
survey constitutes a key diagnostic tool that aims to guide
BSP on the models for delivering financial education and to
set quantifiable and concrete targets. This financial
capability survey is the first in the Philippines and one of
the very first in the East Asia and Pacific Region (EAPF).
The key findings and recommendations presented in this
report cover 3 main areas: 1. Financial Inclusion, 2.
Financial Capability, and 3. Financial Consumer Protection.
The remaining chapters are structured as follows. Chapter 1
explores the financial inclusion landscape in the
Philippines. Chapter 2 gives an overview of Filipinos'
levels of financial capability, in particular about their
financial knowledge, attitudes and behaviors. The last
chapter investigates if the products which financially
included individuals use are effectively meeting their needs. |
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