With innovations such as digital and mobile banking, e-payment systems, blockchain ledgers and cryptocurrency, financial technology (fintech) is set to expand rapidly in the coming years, bolstered by a supportive regulatory environment, low levels of financial inclusion and rapid adoption of digital technology.
While the ASEAN Economic Community (AEC) was formally established in 2015, financial cooperation across the region remains somewhat fragmented. Goods and services move freely between countries, but banks, stock exchanges and securities companies tend to be limited to their home markets.
What are the next steps to accelerate the transition into a digital financial system?
Though smaller than some other capital markets in the region, the Philippine Stock Exchange (PSE) reached record highs in 2017 against a backdrop of robust macroeconomic expansion and the sweeping Tax Reform for Acceleration and Inclusion programme, which should support the government’s sizeable infrastructure agenda, Build, Build, Build (BBB). Benefitting from rising levels of trading and...
The prevailing narrative of the Philippines’ energy sector in recent years has centred around energy security concerns and the challenge of meeting growing demand. Efforts to realign the energy sector were ramped up during 2017 with the launch of reforms targeting investment and the promotion of efficiency. Modifications to the Electric Power Industry Reform Act of 2001 have come at a critical...
The banking sector in the Philippines is expanding rapidly, hitting double-digit credit growth in four of the five years in the 2013-17 period. In addition, the sector simultaneously recorded notable improve-ments across major stability indicators. The country’s banking sector is highly liquid and well provisioned, and it benefits from robust macroeconomic growth, even as excess liquidity and...
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