Registration nears 6 million despite weather disturbances; most said they have no bank accounts
MANILA – The Philippine Statistics Authority (PSA) reported 5,788,615 Filipinos completed Step 1 Registration of the Philippine Identification System (PhilSys) as of Friday, November 20. The procedure includes the house-to-house collection of the demographic information of low-income household heads in the 32 priority provinces for the year.
The select provinces are Ilocos Sur, La Union, Pangasinan, Cagayan, Isabela, Bataan, Bulacan, Nueva Ecija, Pampanga, Tarlac, Zambales, Batangas, Cavite, Laguna, Quezon, Rizal, Albay, Camarines Sur, Masbate, Antique, Capiz, Iloilo, Negros Occidental, Bohol, Cebu, Negros Oriental, Davao de Oro, Davao del Norte, Davao del Sur, Davao Occidental, Leyte, and Tawi-tawi.
The total number of registrants is equivalent to 58.7 percent of the PSA’s target of 9 million for Step 1 by year-end.
According to the PSA statement, 89 percent of the registrants said they do not have bank accounts. The lack of proper identification, including the national ID, appears to be a hindrance to financial inclusion. The lack of formal identification prevents people from engaging in bank transactions. With the PhilSys program more Filipinos will have access to basic banking services and make them less vulnerable to the age-old informal lending practices which levies onerous interest rates. (Melo M. Acuña)
