Philippines: BSP Backs Use of Satellite Technology to Boost Financial Inclusion, Disaster Resilience

Source: ABS-CBN News

The Bangko Sentral ng Pilipinas on Tuesday said the use of satellite technology to expand broadband services would boost financial inclusion, as well as help banks in remote areas improve disaster resiliency.

In a statement, the BSP said it supports the issuance of Executive Order No. 127 and its implementing rules which would liberalize access to satellite technology for broadband services. "With enhanced access to satellite broadband services, financial institutions can improve their disaster recovery plans as part of their resilience strategy," BSP Governor Benjamin E. Diokno said.

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