BSP Hub opens

After years of covering the old Central Bank of the Philippines and the Bangko Sentral ng Pilipinas (BSP), I finally get to see one welcome innovation that embraces "some transparency" in what the BSP does.

- MARIANNE GO

I'm sure most of the public truly don't know what the BSP does and hardly even transact any business directly with the financial institution when it comes to banking matters. Mostly, it is the banking sector that deals with the BSP.

Even in what should be a public service when it comes to inquiries about changing damaged currencies or demonetized bills, or inquiring about the status of banks — be it universal, commercial, rural and now, digital banks — the public mostly are clueless and just rely on their local banks for such services.

Even when I covered the old Central Bank in the early 1980s, access to the building was very strict and was not generally open to the public. It has never been a public facility where an ordinary person can come in to inquire or easily get an explanation about banks or financial institutions. Even the simple act of trying to change damaged bills was not really available unless someone knew somebody in the BSP.

Thus, it was a welcome surprise to be informed that the BSP has taken what to me is a landmark step of opening a BSP Hub that was inaugurated just this month, making it more convenient for Filipinos to avail of BSP services and make inquiries about banking matters directly with the central monetary authority.

The new BSP Hub that was opened to the public Monday last week, June 9, is located at the BSP head office along the service road of Roxas Boulevard in Manila, or right across the Philippine Navy headquarters and the Manila Yacht Club. It is beside the Ospital ng Maynila.