financial inclusion, education, and regulation in the philippines
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DJLF Riref`b Xdpor ^orfos
Cf`d`nfda F`nausfi`, Ojundtfi`, d`j
\obuadtfi` f` tmo Xmfafppf`os
Bfalorti K. Aad`ti
@i. ?:4 Dubust
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Zmo Riref`b Xdpor sorfos fs d ni`tf`udtfi` ic tmo cirkoray `dkoj Jfsnussfi` Xdpor sorfos5tmo `uklorf`b ic tmo pdpors ni`tf`uoj wftmiut f`torruptfi` ir nmd`bo. DJLF‖s wiref`bpdpors rocaont f`ftfda fjods i` d tipfn d`j dro pistoj i`af`o cir jfsnussfi`. DJLF o`niurdbosrodjors ti pist tmofr nikko`ts i` tmo kdf` pdbo cir odnm wiref`b pdpor (bfvo` f` tmonftdtfi` loaiw). ^iko wiref`b pdpors kdy jovoaip f`ti itmor cirks ic pulafndtfi`.
^ubbostoj nftdtfi`7
Aad`ti, B. K. -->?6>-??88Cdx7 +=4->->?6>-??24_\A7 www.djlf.irbO-kdfa7 f`ciHdjlf.irb
©
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Dlstrdnt
Ostdlafsmf`b cf`d`nfdaay f`nausfvo onisystoks cir aiw-f`niko nafo`ts, f`naujf`b skdaa d`jkojfuk o`torprfsos, mds loniko d rfsf`b bailda ni`nor`. Zmo Ni`suatdtfvo Briup ti Dssfsttmo Xiir d`j tmo Riraj Ld`e ostfkdto tmdt driu`j
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Ni`to`ts
4. F`trijuntfi` ................................................................................................................ >
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4. F@Z\IJ_NZFI@
Ostdlafsmf`b ‑cf`d`nfdaay f`nausfvo onisystoks‛ (Omrlone, Xfneo`s, d`j Zdrdzf
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robdrjf`b tmo `ooj cir ldad`no lotwoo` cf`d`nfda f`nausfi` d`j cf`d`nfda stdlfafty.^ontfi` ? ni`naujos wftm siko piafny ronikko`jdtfi`s.
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(Zdlaos , d`j :). Zmo Bailda Cf`jox wolsfto privfjos f`cirkdtfi` i` sdvf`bs d`jaid` dnniu`ts dt cirkda cf`d`nfda f`stftutfi`s ly sox, f`niko, dbo briup, ojundtfi ,̀ d`jpadno ic rosfjo`no (urld` ir rurda). Zmo tdlaos f`jfndto roadtfvoay aiw dnnoss ti d`jusdbo ic cf`d`nfda sorvfnos f` tmo niu`try nikpdroj ti ^f`bdpiro, Kdadysfd, d`jZmdfad`j, tmo tmroo mfbm„kfjjao f`niko niu`trfos f` tmo D^OD@ robfi`. ^f`bdpiro mdstmo kist cf`d`nfdaay f`nausfvo systok, wmfao tmo Xmfafppf`os, tibotmor wftm tmo AdiXoipao‖s Jokinrdtfn \opulafn, Ndklijfd, F`ji`osfd, d`j Sfot @dk, mdvo dnnoss ticf`d`nfda sorvfnos tmdt dro aiwor tmd` tmiso ic Odst Dsfd d`j tmo Xdnfcfn d`j tmo wiraj.Zdlaos , d`j : sfb`fcy tmo brodt nmdaao`bo cdnoj ly tmo Xmfafppf`os f` wiref`b cirbrodtor f`nausfvo`oss ic fts cf`d`nfda onisystok.
Zdlao .2 4.2 ?.: >.> :.?
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Zmo % ic tmiso wftm `i jopisft dnniu`tssdfj tmoy jfj `it mdvo o`iubm ki`oy cir ld`e jopisfts (L^X
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Cfburo
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=% ic tmofr aid` pirtciafi cir kfnri d`j skdaa o`torprfsos, d`j dt aodst
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crik >:.?< kfaafi` f` .>? kfaafi` dnniu`ts f` , oqufvdao`t ti d` dvordbod``uda briwtm ic 2.4%, oxnopt f` % yodr-i`-yodr jonaf`o,iwf`b kdf`ay ti d jonrodso f` tmo `uklor ic jopisft dnniu`ts f` tmo @dtfi`da Ndpftda\obfi`. F` , skdaa sdvors, f`naujf`b tmiso usf`b `i`-stine sdvf`bs d`j aid`dssinfdtfi`s (@^^ADs) kd`dboj ti f`nrodso tmofr sdvf`bs jopisfts. Zmo uso ic ldsfncf`d`nfda sorvfnos (aid`s d`j jopisfts) mds oxpd`joj.
Miwovor, tmoro fs jfspdrfty f` tmo jfstrflutfi` ic cf`d`nfda sorvfnos dnnoss pif`tslonduso ld`es dro ciu`j kistay f` mfbm f`niko d`j urld` drods. Ld`bei ^o`trda `bXfafpf`ds `itos tmdt :>% ic tmo titda `uklor ic jopisft dnniu`ts d`j 32% ic tmo titdadkiu`t ic jopisfts dro f` tmo @dtfi`da Ndpftda \obfi` (@N\). Kd`y drods f` tmoniu`try dro stfaa u`jorsorvoj ir ovo` u`sorvoj, f`jfndtf`b tmo brodt nmdaao`bo ticf`d`nfda f`nausfi`. Zmo niu`try fs d` drnmfpoadbi ic kiro tmd` 2,888 fsad`js d`jboibrdpmy pisos cirkfjdlao ldrrfors ti dnnossflfafty ic cf`d`nfda sorvfnos joafvorojtmriubm trdjftfi`da ‑lrfne d`j kirtdr‛ lrd`nm ld`ef`b.
Cirtu`dtoay, kijor` tonm`iaibfos, o.b., o-ki`oy d`j kilfao ld`ef`b, nd` moap
ivorniko tmo pmysfnda ldrrfors ti cf`d`nfda f`nausfi` pifsoj ly tmo niu`try‖sdrnmfpoadbfn tipibrdpmy. O-ki`oy dnniu`ts d`j o-ki`oy trd`sdntfi`s mdvosfb`fcfnd`tay briw` f` tmo pdst cow yodrs. Zmoro dro `iw
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Zdlao 27 Nipf`b F`struko`ts ic Aiw-f`niko Xmfafppf`o Miusomiajs
Nipf`b Konmd`fsk Josnrfp tfi`
F`cirkda, i`-tmo-spit dntfi` ^uppirt crik roadtfvos, aid`s crik ki`oyao`jors, sdao ic dssots, o.b., afvostine, cdrk
d`fkdasAinda f`cirkda ‑sinfda pritontfi`‛ snmokos ^uppirt crik ritdtf`b sdvf`bs d`j nrojft
dssinfdtfi`s, d`j itmor f`cirkda snmokosF`stftutfi`da f`surd`no snmokos ^infda sonurfty systok, bivor`ko`t sorvfno
f`surd`no systok, nikkornfda f`surors, fc tmomiusomiajs dro dlao ti dnnoss tmok.
Kfnrif`surd`no snmokos ^nmokos jovoaipoj ly KCFs, kutuda lo`ocftdssinfdtfi`s, niipordtfvos
KCF ; kfnricf`d`no f`stftutfi`.
^iurno7 Djdptoj crik Aad`ti (,?88 f`
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Cirokist ic tmo pusm cdntirs dro tmo piafny d`j f`stftutfi`da rocirks djiptoj ly tmobivor`ko`t wftm tmo ji`ir nikku`fty‖s dssfstd`no ti nrodto d mispftdlao o`vfri`ko`tcir kfnricf`d`no. Xrfvdto kfnricf`d`no privfjors rospi`joj ly jovoaipf`b suftdlaojoafvory tonm`fquos d`j dppriprfdto prijunts.
2 Zmo bivor`ko`t (Jopdrtko`t ic
Cf`d`no-@dtfi`da Nrojft Niu`nfa d`j Ld`bei ^o`trda `b Xfafpf`ds) d`j ji`irsniaadlirdtoj ti jovoaip d robuadtiry crdkowire ni`junfvo cir kfnricf`d`no. Zmojovoaipko`ts f` Xmfafppf`o kfnricf`d`no dro `ostoj wftmf` d bailda sottf`b wmorobivor`ko`ts d`j ji`irs dafeo dro sooef`b vdrfius wdys ti oxpd`j cf`d`nfda f`nausfi`. Dnnossflfafty ic f`cirkdtfi` d`j joki`strdtfi` ic sunnosscua d`j cdfaojoxporfko`tdtfi`s f` kfnricf`d`no woro fkpirtd`t aodr`f`b siurnos cir tmo kfnricf`d`nonikku`fty f` tmo Xmfafppf`os. Zmo f`tor`dtfi`da ji`ir nikku`fty, o`tmusoj ly tmosunnosscua oxporfo`nos ic kfnricf`d`no f`stftutfi`s f` vdrfius pdrts ic tmo bailo f`rodnmf`b iut ti aiw-f`niko nafo`ts, f`vdrfdlay f`naujoj kfnricf`d`no f` tmofrjovoaipko`t dssfstd`no strdtobfos ti tmo Xmfafppf`os ds d` f`struko`t cir cf`d`nfdaf`nausfi`.
F` 4662, tmo _`ftoj ^tdtos Dbo`ny cir F`tor`dtfi`da Jovoaipko`t (_^DFJ) privfjoj
nrunfda tonm`fnda dssfstd`no ti tmo Jopdrtko`t ic Cf`d`no-@dtfi`da Nrojft Niu`nfau`jor tmo Nrojft Xiafny Fkprivoko`t Xrigont (NXFX). F`tor`dtfi`da d`j Cfafpf`i oxportsworo kdjo dvdfadlao ti djvfso tmo bivor`ko`t d`j tmo okorbf`b kfnricf`d`nonikku`fty i` occontfvo bailda kfnricf`d`no prdntfnos. Zmo NXFX adfj jiw` tmo piafny,robuadtiry, d`j f`stftutfi`da crdkowire tmdt rosuatoj f` tmo nurro`t `itdlao porcirkd`noic tmo kfnricf`d`no sontir. Zmo NXFX wds f`struko`tda f` privfjf`b biij piafny djvfnoti tmo bivor`ko`t wftm tmo ciaaiwf`b kdgir rocirk kodsuros lo`ocftf`b crik tmotonm`fnda dssfstd`no7 @dtfi`da ^trdtoby cir Kfnricf`d`no, Oxonutfvo Irjor @i. 4>=,nrojft piafny privfsfi`s f` tmo Dbrfnuaturo d`j Cfsmorfos Kijor`fzdtfi` Dnt, kfnricf`d`noprivfsfi`s f` tmo Bo`orda Ld`ef`b Dnt ic
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dssfstd`no (IJD) cu`js porcirkoj tmo nrftfnda cu`ntfi` ic joki`strdtf`b tmdtkfnricf`d`no wds litm sinfdaay lo`ocfnfda d`j pricftdlao (tmo jiulao littik af`o). Rftmsunnoss ndko kiro cu`jf`b, tmfs tfko crik ainda nikkornfda siurnos, prfvdto ji`irs,d`j f`tor`dtfi`da ciu`jdtfi`s.
6
D`itmor pusm cdntir f` tmo odray jdys ic kfnricf`d`no wds tmo rodafzdtfi` i` tmo pdrt ictmo bivor`ko`t ic tmo cdfauro ic sulsfjfzoj ir jfrontoj nrojft pribrdks (JNXs) f`rodnmf`b tmo f`to`joj tdrbots, kistay skdaa cdrkors d`j itmor skdaa-sndao nafo`ts, f` dsustdf`dlao kd``or. Zmo cfsnda nist ic cu`jf`b 3> JNXs, roproso`tf`b 2>% ic JNXsfkpaoko`toj ly vdrfius bivor`ko`t dbo`nfos, wds ds kunm ds 4.=% ic briss `dtfi`daprijunt (B@X) f` 4663.
48 Zmo luae ic tmo cu`jf`b ndko crik cirofb` aid`s. Jdtd crik
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dbo`ts. Zmo Riraj Ld`e‖s Cfrst F`ftfdtfvo Xrigont privfjoj tmo F`surd`no Nikkfssfi`wftm tonm`fnda dssfstd`no ti o`md`no fts cf`d`nfda ropirtf`b crdkowire usf`b f`cirkdtfi`d`j nikku`fndtfi` tonm`iaiby (FNZ) ds d tiia (Jopdrtko`t ic Cf`d`no
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@BIs, d`j adtor usoj tmo Dssinfdtfi` cir ^infda Djvd`noko`t‖s (D^D) kijfcfojBrdkoo` dppridnm ic briup ao`jf`b lut wftmiut d gif`t afdlfafty roqufroko`t ti oxpd`jiutrodnm d`j kdf`tdf` aid` niaaontfi` occfnfo`ny. F`tor`daay, kd`y KCFs mdvo rosiavojti djmoro ti tmo porcirkd`no std`jdrjs f`ftfdaay jovoaipoj ly tmo Nidaftfi` i`Xorcirkd`no ^td`jdrjs d`j f`cauo`noj ly NBDX bufjoaf`os i` porcirkd`no d`jbivor`d`no. Zmo lidrj ic trustoos/jfrontirs d`j f`tor`dtfi`da ji`irs ti tmiso KCFsnaisoay ki`ftir tmo porcirkd`no ic tmo KCFs, wmfnm sulkft robuadr ropirts i`porcirkd`no, o.b., sfb`fcfnd`t cf`d`nfda rdtfis jurf`b d ropirtf`b porfij (Zdlao 6).
D`itmor kdgir f`tor`da cdntir oxpadf`f̀ b tmo jovoaipko`t ic tmo kfnricf`d`no sontir fstmo qudafty ic bivor`d`no ic tmo KCFs. Bivor`d`no ic KCFs ds d` osso`tfda nikpi`o`tic ai`b-tork f`stftutfi`da sunnoss mds i`ay rono`tay surcdnoj (Itori
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Zdlao 67 ^iko Cf`d`nfda \dtfis Ki`ftiroj d`j \opirtoj ly Kfnricf`d`noF`stftutfi`s f` tmo Xmfafppf`os
^fb`fcfnd`t Cf`d`nfda \dtfis F`justry \dtfi,ds ic Nurro`t
Ki`tm*
Zdrbot Nurro`tKi`tm/Vodr
XrovfiusKi`tm/Vodr
^iavo`ny
4 Ndpftda Djoqudny \dtfi (ND\) 43.44% Brodtor tmd`
< Zitda ndpftda ti titda dssots 44.:8% Brodtor tmd`
> Jolt ti Oqufty \dtfi 4.=>% Brodtor tmd`
> Jopisfts ti ndpftda 2% Aoss tmd`
> @ot f`niko dctor tdx ti dvordbo ndpftdarotur` i` oqufty
3.=?% Brodtor tmd`
: @ot f`niko dctor tdx ti dvordbo dssots
rotur` i` dssots
8.=?% Brodtor tmd`
? @ot f`torost kdrbf` ti dvordbo odr`f`bdssots cir ^KO ld`es
?.8 Gu`o =, lut ti daaiw jfront ao`jf`b ly d bivor`ko`t af`o jopdrtko`tf` drods daaobojay `it nurro`tay sorvoj ly d`y KCF. Zmo prilaok wftm tmo nikprikfsofs tmdt ft jo`fos tmo KCF d` f`no`tfvo ti aindto f` tmiso drods pronfsoay londuso icbivor`ko`t jfront f`torvo`tfi`. Zmiso drods wfaa tmorociro rokdf` jopo`jo`t i`bivor`ko`t f`gontfi` ic nmodp cu`js. Xiafny f`ni`sfsto`ny nd` rotdrj curtmor pribrossf` tmo kfnricf`d`no sontir.
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4=
Zmo adne ic pripor u`jorstd`jf`b ic nafo`t `oojs, u`djjrossoj sinfioni`ikfn d`jnuaturda cdntirs, d`j ldrrfors pisoj ly boibrdpmy, f`cirkdtfi`, d`j niirjf`dtfi`prilaoks nd` dasi lo sfb`fcfnd`t murjaos cir curtmor briwtm ic tmo sontir. F`djoqudtopmysfnda f`crdstrunturo, sunm ds ldj ridjs, f`occfnfo`t trd`spirt, d`j smfppf`b cdnfaftfos,ds woaa ds prilaoks wftm dnnoss ti occfnfo`t toaonikku`fndtfi`s sorvfnos, oxdnorldtotmo prilaoks pisoj ly boibrdpmy.
Zmo saiw fkpaoko`tdtfi` ic d nrojft f`cirkdtfi` systok tmdt fs f`to`joj ti ivornikotmo adne ic cirkda cf`d`nfda mfstiry ic nafo`ts fs dasi d` fssuo. F`
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Lix
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7 Ld`bei ^o`trda `b Xfafpf`ds ds d` O`dlaor
^ovorda yodrs dbi, tmo robuadtir wds proso`toj wftm twi o-ki`oy snmokos. I`o o-ki`oy prijunt, ^kdrt Ki`oy, wds fssuoj ly d ld`e. Zmo itmor, Bndsm, wds fssuoj lyd `i`-ld`e sulsfjfdry ic Bailo Zoaonik, i`o ic tmo adrbost kilfao `otwire ipordtirsf` tmo Xmfafppf`os. Datmiubm Bndsm f`trijunoj d `i`-ld`e dntir f`ti wmdt mdj loo`soo` ds tmo jikdf` ic afno`soj ld`es, tmo L^X nmiso ti ipo` tmo jiir ti d`f``ivdtfvo prijunt wftm tmo pito`tfda ti rodnm u`ld`eoj pipuadtfi`s. _sf`b fts ruao-kdef`b piwor ds tmo pdyko`t systok ivorsoor, L^X dpprivoj odnm kijoa i` d` djmin ldsfs, lut i`ay dctor ni`cfrkf`b tmdt odnm kijoa kftfbdtoj fjo`tfcfoj rfses. Ldsoj i`fts ilsorvdtfi`s ic tmo kdreot‖s jovoaipko`t ivor kiro tmd` : yodrs, L^X fssuoj o-ki`oy robuadtfi`s f`
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ti mdvo vduats cir sdcoeoopf`b `ir sonurfty budrjs f` tmo prokfsos ds robuadr ld`esdro. Zmoro fs d `ooj cir naisor ki`ftirf`b d`j kiro occfnfo`t f`cirkdtfi` systoks cirKCFs d`j robuadtirs ds woaa ti o`suro cf`d`nfda f`tobrfty d`j stdlfafty. Ft fs `itoj,tmiubm, tmdt tmo aid` pirtciafis ic KCFs dro `it ds ni`no`trdtoj ds tmiso ic nikkornfdald`es. Nrojft rfses d`j itmor rfses dro woaa-jfstrflutoj d`j tmus tmo cdfauro ic d` KCFld`e (d roadtfvoay skdaa rurda ld`e) jios `it fkpdnt djvorsoay i` tmo cf`d`nfda systokds d wmiao. KCFs ji `it sook ti piso systokfn rfse u`afeo tmo jikostfn systokfndaayfkpirtd`t ld`es (o.b., u`fvorsda ld`es) wmiso naisuro wiuaj djvorsoay fkpdnt i` tmooni`iky. 4= Rmdt fs dt rfse tmiubm fs tmo roputdtfi` ic kfnricf`d`no crik tmoporspontfvo ic skdaa jopisftirs, osponfdaay tmiso wmi mdvo mftmorti loo` oxnaujoj.Cdfauro ir naisuro ic KCF ld`es wfaa fkpdnt i` tmo wfaaf`b`oss ic skdaa jopisftirs tipdrtfnfpdto f` tmo kdf`strodk cf`d`nfda systok. Zmoro fs d `ooj ti ndrocuaay ldad`no tmopripirtfi`dto robuadtfi` ic ld`es o`bdboj f` kfnricf`d`no wftm tmo `ooj ti pritontcf`d`nfda f`tobrfty d`j stdlfafty ic tmiso ld`es.
?. NI@NA_^FI@ D@J XIAFNV \ONIKKO@JDZFI@^Zmo Xmfafppf`o oxporfo`no wftm kfnricf`d`no smiws tmo osso`tfda riao padyoj ly dni`junfvo piafny d`j robuadtiry crdkowire f` kitfvdtf`b prfvdto cf`d`nfda sorvfnosprivfjors f` kdef`b f``ivdtfvo cf`d`nfda prijunts d`j sorvfnos dnnossflao ti tmo piir.Cf`d`nfda joopo`f`b dki`b tmo oxnaujoj sobko`t ic tmo pipuadtfi` mds stdrtoj ti tdeoriit. Cf`d`nfda f`nausfi` mds stdrtoj ti oxpd`j, lut tmoro dro nmdaao`bos cdnf`bpiafnykdeors d`j robuadtirs ds woaa. Cf`d`nfda ojundtfi` dasi mds d nrftfnda riao f`cf`d`nfda f`nausfi`. Zmfs smiuaj f`naujo d pribrdk ic cf`d`nfda ojundtfi` cir ^KOslonduso skdaa cfrks proso`t brodt ippirtu`ftfos cir f`nausfvo briwtm.
Zmo prfkdry nmdaao`bo cdnoj ly tmo bivor`ko`t fs jocf`f`b fts riao f` nrodtf`b lridjord`j kiro f`torni``ontoj onisystoks cir sdco d`j occfnfo`t prijunt joafvory ti tmo piir
(Omrlone, Xfneo`s, d`j Zdrdzf
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Itori, K. . KfnriCf`d`no @otwire.
^dadzdr-]frf`dnms, G. K.