By Nimfa Estrellado BSP Lucena Branch in Lucena City, saw active participation from various media outlets and local government representativ...
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| BSP Lucena Branch in Lucena City, saw active participation from various media outlets and local government representatives. (Photo from Ruel Orinday, PIA Quezon) |
LUCENA CITY, Quezon - The Bangko Sentral ng Pilipinas (BSP) Lucena Branch successfully conducted its third Media Information Session on August 5, 2024 solidifying its commitment to promoting financial literacy and digital transformation in Quezon Province. The event, held at the BSP Lucena Branch in Lucena City, saw active participation from various media outlets and local government representatives.
Key topics covered in the session included a comprehensive overview of the BSP's core functions, highlighting its role in maintaining price stability, a healthy financial system, and the security and efficiency of the national payment system, with emphasis on its proactive approach to managing inflation and fostering a stable economic environment.
The session also delved into the National Payment System Act (NPSA), elucidating its role in modernizing the country's payment system by facilitating secure and efficient electronic fund transfers, promoting financial inclusion, and reducing reliance on cash transactions.
Further discussions explored the BSP's initiatives to accelerate the adoption of digital payments in the Philippines, showcasing the benefits of PESONet and InstaPay in terms of convenience, affordability, and real-time transaction capabilities, ultimately contributing to economic growth.
The session also addressed the Financial Consumer Protection Act (FCPA) and the BSP's comprehensive framework for resolving consumer complaints. It highlighted the various consumer protection mechanisms in place, including the BSP Online Buddy (BOB) complaint platform, and emphasized the importance of financial education in empowering consumers.
The BSP's commitment to fair and impartial resolution of disputes between financial institutions and their clients was underscored through a detailed explanation of the mediation and adjudication process.
Addressing concerns about the banking landscape in Quezon Province, Atty. Dennis Gamaya, Area Director of BSP Lucena, provided data on the province's population and the number of banks operating in the region. He assured attendees that the existing banking infrastructure is sufficient to meet the financial needs of the province's residents, dispelling any concerns about a shortage of banking services.
The media information session concluded with an interactive Q&A session, allowing media representatives and local government officials to seek further clarification on the topics discussed. The BSP officials reiterated their commitment to collaborating with stakeholders to enhance financial literacy and promote a secure and efficient financial system in Quezon Province.
The BSP Lucena branch remains steadfast in its mission to foster financial inclusion and empower the people of Quezon Province through various initiatives. This includes conducting regular information sessions, financial literacy campaigns, and collaborating with local stakeholders to ensure that financial services are accessible to all.
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