In his last month in office, President Benigno Aquino III signed into law the creation of Financial Inclusion Steering Committee (FISC), the governing body for the delivery of financial services to low-income households in the Philippines.

Under Executive Order No. 208 signed by Aquino on 02 June 2016, the FISC has been mandated to provide strategic direction, guidance, and oversight of the National Strategy for Financial Inclusion (NSFI), which serves as a guidepost for public and private sector stakeholders to systematically accelerate financial inclusion in the Philippines.

The NSFI defines the national vision for financial inclusion and provides a platform for public and private sector coordination to ensure synergy of efforts.