Most Filipinos shy away from banks, World Bank survey finds 23 SHARES Share it! But living outside of the banking system also means getting left out of some economic opportunities. According to the World Bank 2017 Global Findex, only 34 percent of Filipino adults have bank accounts, better than the central bank’s own 2017 Financial Inclusion Survey (FIS) which showed that only 22.6 percent of the population or 15.8 million Filipino adults have bank accounts. The BSP survey showed that out of 52.8 million adults who do not own a bank account, 60 percent said they do not have enough money. Asian Development Bank president Takehiko Nakao has been encouraging central banks across Asia to use more digital infrastructure to promote financial inclusion.

Source: Manila Bulletin November 24, 2018 13:52 UTC