Financial literacy is taking center stage in Bohol as the Bangko Sentral ng Pilipinas (BSP), the Tagbilaran City Government, and BDO Foundation formalized a partnership aimed at helping more Filipinos build healthier financial habits and gain better access to formal financial services.
The three organizations signed a memorandum of agreement on July 7 at Tagbilaran City Hall, reinforcing a collaboration that extends beyond classroom-style financial education to include financial inclusion, consumer protection, and access to banking.
For the BSP, the partnership reflects a growing recognition that improving financial capability requires more than government-led campaigns.
“Financial education is most effective when the government, the private sector, the community, and local government units work together,” BSP Deputy Governor Bernadette Romulo-Puyat said during the signing.
Tagbilaran City Mayor Jane Censoria Yap said the city wants financial literacy to become part of everyday learning, particularly for young people.
“This is a whole-of-city approach in partnership with BSP and BDO,” she said. “We should teach our young people financial literacy not only so they can learn, but so they can improve their lives.”
BDO Foundation President Mario Deriquito said the partnership will allow the foundation to reach more communities with practical financial education that people can immediately apply in their daily lives.
Reaching different sectors
The agreement comes with a series of activities targeting different sectors of the community.
The BSP conducted financial learning sessions for micro, small, and medium enterprises (MSMEs), senior citizens, and civil society organizations. Participating financial institutions also helped attendees open bank accounts, supporting the central bank’s broader goal of bringing more Filipinos into the formal financial system.
IMAGE CREDIT: BSP
The central bank likewise introduced universities in Bohol to the BSP E-Learning Academy (BELA), a free online learning platform that offers courses on personal finance, economics, and central banking. The initiative is intended to help schools incorporate financial education into their learning programs.
Beyond the classroom, BSP officials also met with banks and other financial institutions to discuss ways of expanding access to financial services across the province.
Another activity focused on the fisheries sector, where the BSP met with the Provincial Fisheries Office to explore ways of improving fisherfolk’s financial capability. Officials also observed the rollout of Fish N’ LEarn, an interactive game designed to teach money management through a combination of learning and earning concepts.
Before the week’s activities began, BSP representatives also paid a courtesy visit to Bohol First District Representative John Geesnell “Baba” Lim Yap II to discuss continued collaboration on financial education, financial inclusion, and consumer protection initiatives in the province.
The latest agreement builds on financial education programs launched in Tagbilaran in 2025, including training local government facilitators and conducting financial literacy sessions for the agriculture, youth, and education sectors.
For the BSP, initiatives like these are part of a broader effort to make financial education more accessible at the local level. By working with local governments, schools, financial institutions, and private organizations, the central bank hopes to equip more Filipinos with the knowledge and confidence to make informed financial decisions.
