Carlos G. Dominguez
Secretary of Finance
Bangko Sentral ng Pilipinas Governor Ben Diokno; National Treasurer Rosalia De Leon; Land Bank of the Philippines President and CEO Cecilia Borromeo; Development Bank of the Philippines President and CEO Emmanuel Herbosa; fellow workers in government: Good afternoon.
The Philippines’ first-ever onshore retail dollar bond offering not only supports the development of our capital markets but also helps fulfill President Rodrigo Duterte’s goal of financial inclusion among Filipinos.
The Retail Dollar Bonds will offer our small investors an outlet for diversifying their investment portfolios. They do not need to keep their dollar holdings in deposit accounts that pay minimal interest. With a minimum investment of just 300 US dollars or about 15,000 pesos, small investors can now grow their US dollar savings.
We will take advantage of digital platforms so investors can easily purchase these bonds through the Bonds dot PH application, the Overseas Filipino Bank’s and LandBank’s mobile applications, and the Treasury’s Online Ordering Facility.
Moreover, we launched a mobile application that allows investors to learn and understand the fundraising and debt management activities of the national government. The app also keeps users updated on the latest offerings of government securities.
With these innovations, Filipinos, especially our Overseas Filipino Workers, can now make investments in government securities without having to pay out huge commissions to brokers and traders. Investing in bonds becomes seamless and nearly friction-free.
I encourage our people to invest their savings in dollar bonds. This is a win-win proposition. Retail dollar bonds provide a safe investment and income opportunity. Buying them will help raise funds for our economic investments and the nation’s comprehensive effort to defeat the pandemic. This helps open up the financial system to small investors and encourages more efficient intermediation. Overall, this aids in restoring the vigor of the Philippine economy at the soonest possible time.
We will work hard to come up with more attractive and dependable investment products available for small savers.
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