In a recent study conducted by the Asian Development Bank, the Philippines turned out to be well behind its regional peers when it comes to financial inclusion.

According to the study, the Philippines was at the 120th spot, while its neighboring countries such as Singapore ranked 25th and Malaysia at 41st. The scoring was based on several indicators, which included the ratio of automated teller machines (ATM) per 100,000 adults and domestic credit to gross domestic product ratio.

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