Manila, Jan. 10 -- Finance Secretary Carlos Dominguez III in a statement on Thursday underscored the need to put in place a liberal regulatory environment to enable financial technologies (Fintech), that would help Filipinos ride the digital wave, flourish in the country.
In a meeting held recently with officials of the International Finance Corp. (IFC), Dominguez likened Fintech in the Philippines to a "seed starting to grow," and that can only sprout if it is unfettered by regulations.
"Let's not choke it with regulations. Let them grow, make mistakes. Then we learn how to regulate them," Dominguez said, as he pointed out that these new financial technologies are crucial for the government to achieve President Duterte's goal of financia...