Bangko Sentral reiterates commitment to foster PWD-friendly financial system

ABS-CBN News

Posted at Dec 09 2021 05:58 PM

BSP Handout
The enhanced bills launched in July 2020 featuring new anti-counterfeit technology, indigenous weave design and tactile marks for the visually-impaired. BSP Handout

MANILA - The Bangko Sentral ng Pilipinas on Thursday said it remains committed to promote a financial system that is inclusive of Persons with Disability (PWDs).

The BSP said it has issued regulations to uphold the Batas Pambansa 344 (An Act to Enhance the Mobility of Disabled Persons by Requiring Certain Buildings, Institutions, Establishments, and Public Utilities to Install Facilities and Other Devices) and Republic Act No. 9994 (Expanded Senior Citizens Act).

These measures were meant to make financial products and services more convenient, accessible and affordable for PWDs, the central bank said.

BSP-supervised financial institutions were also urged to observe non-discriminatory practices as well as a risk-based customer acceptance and identification policy to make it easier for PWDs, the BSP said. 

Last year, the central bank released enhanced versions of Philippine banknotes which were more PWD-friendly by adding "tactile marks" to make them easier to be identified by the visually impaired.

“PWDs represent a key segment of our financial inclusion agenda considering the unique barriers and challenges they face when conducting financial transactions,” said BSP Governor Benjamin E. Diokno. 

“By fostering a PWD-friendly financial system, more Filipinos will be in a position to overcome restrictions brought about by the pandemic and to take advantage of opportunities in the post-COVID Economy,” he said.

The BSP said it is in constant discussion with the National Council on Disability Affairs (NCDA). 

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