The Bangko Sentral ng Pilipinas (BSP) is ramping up efforts to strengthen the financial well-being of Filipinos through the development of a National Strategy for Financial Education (NSFE), a landmark initiative aimed at helping individuals and families make more informed and resilient financial decisions.
Targeted for release later this year, the strategy seeks to build a financially empowered society where Filipinos are equipped with the knowledge, confidence, and tools to manage their finances effectively through accessible and impactful financial education programs.
As part of the strategy’s development, the BSP convened key stakeholders on May 13 at its head office in Manila for a high-level consultation that brought together representatives from government agencies, private sector institutions, civil society organizations, and development partners.
The gathering served as a critical step in refining the national framework, ensuring that it reflects both research-driven insights and practical realities on the ground.
Stakeholders unite to shape national financial strategy
BSP Deputy Governor Bernadette Romulo-Puyat underscored the importance of collaboration in shaping the strategy.
BSP Deputy Governor Bernadette Romulo-Puyat (onscreen)
“No amount of research can replace the insights of those doing the work on the ground,” Romulo-Puyat said. “That is why consultations matter. A national strategy only becomes meaningful when government, industry, civil society, and development partners work together to make it succeed. That is when it becomes more than a document.”
During the consultation, BSP officials and partners presented key findings on the current financial education landscape in the Philippines, highlighting existing initiatives, persistent gaps, and priority areas that require greater attention.
Participants also engaged in workshops designed to gather recommendations and identify actionable initiatives that will help sharpen the strategy’s direction and inform its implementation priorities.
Research-backed strategy advances inclusive financial resilience
The discussions build on earlier rounds of consultations and extensive research into the country’s financial education ecosystem.
Inputs gathered from stakeholders will be consolidated and analyzed to further strengthen the final framework.
The NSFE is being developed with technical assistance from the World Bank and with input from the Foreign, Commonwealth & Development Office.
Once finalized, it will become a key component of the National Strategy for Financial Inclusion 2022–2028 and will be endorsed to the Financial Inclusion Steering Committee for approval.
Through the initiative, the BSP aims to lay the groundwork for a more financially literate and financially resilient Philippines, where sound money management becomes an essential life skill for every Filipino household.
