The Bangko Sentral ng Pilipinas (BSP) is the central bank of the Philippines, responsible for maintaining monetary stability and promoting a sound financial system. Established in 1993, it aims to ensure price stability, manage inflation, and regulate the banking sector. The BSP also oversees the issuance of currency and implements policies to foster economic growth. In addition to its monetary functions, the BSP plays a crucial role in safeguarding the country's financial stability. It supervises banks and financial institutions, ensuring they operate safely and soundly. The BSP also engages in financial literacy programs to educate the public about banking and finance.