National ID to push ‘financial inclusion’ in PH: NEDA

Jessica Fenol, ABS-CBN News

Posted at Jul 08 2020 03:32 PM

A customer withdraws money from an ATM inside a supermarket in Quezon City on March 12, 2020 as reports of a lockdown in response to the COVID-19 outbreak circulated on social media. Fernando G. Sepe Jr., ABS-CBN News/File

MANILA - The National ID system will help push financial inclusion in the country by providing means for all Filipino families to open bank accounts, Acting Socioeconomic Planning Secretary Karl Chua said Wednesday. 

Registration for the national ID system will start in the last 2 months of the year, Chua said during a pre-State of the Nation Address forum. The goal is to register 15 million families by the middle of 2021 so that the heads of households can open bank accounts, he said.

The national ID system will give individuals a government accredited identification card, required when opening a bank account.

"Ang layunin natin ay mabigyan ng bank account ang bawat pamilya para maisulong ang financial inclusion," Chua said.

(The goal is to give bank accounts for every family to push financial inclusion.)

The government earlier said the national ID system can also be used to facilitate faster cash aid distribution.