BSP receives 'Best Conduct of Business Regulator' award

ABS-CBN News

Posted at Jun 07 2014 08:17 AM | Updated as of Jun 07 2014 04:17 PM

MANILA, Philippines - The Bangko Sentral ng Pilipinas (BSP) received the Best Conduct of Business Regulator Award in Asia-Pacific for 2013.

The award recognized the BSP's success in “building confidence in the financial services and markets, protecting consumer interest and ensuring market integrity as well as incorporating transparency and independency in its governance.”

The award was given by The Asian Banker, one of Asia’s leading financial services consultancies, at its Business Achievement Awards Dinner held recently in Kuala Lumpur.

"The BSP has consistently committed to establishing an inclusive financial system that provides effective access to finance for all, regardless of their socio-economic status," The Asian Banker said.

"It also set and followed a clear vision that steadily pursued and embedded the financial inclusion objective and continued to promote an enabling environment for microfinance as a key advocacy to support poverty reduction. It also adopted a consumer protection framework that makes consumer protection an integral part of banking supervision," it added.

Last year, The Asian Banker named the BSP as Best Macroeconomic Regulator.