Section 20Sec./Art. 20

Role of the Bangko Sentral. Pursuant to its mandate to provide policy direction in the areas of money, banking and credit under Republic Act No. 7653, otherwise known as the New Central Bank Act, and to enhance credit creation in the rural areas, and achieve a more inclusive financial system, the Bangko Sentral shall have the following powers:

(a) Spearhead the promotion, encouragement, creation and organizational development of CSF Cooperatives all over the country;

(b) Facilitate the acquisition by CSF Cooperatives of technical assistance such as trainings and seminars in coordination with other public or private stakeholders for purposes of the CSF; and

(c) Assist the CDA in setting the criteria and qualifications for CSF Cooperatives, and provide such other forms of assistance as may be determined by the Monetary Board to be consistent with its mandate.