Earlier this week, the Bangko Sentral ng Pilipinas (BSP) led the launching of financial education programs designed specifically for Overseas Filipino Workers (OFWs), college students, and agricultural workers.
The event was held at the BSP’s head office in Manila with no less than BSP Governor Felipe M. Medalla leading the ceremonies.
Photo shows BSP Governor Medalla (seated, center) together with Secretary Susana V. Ople (seated, at left) of the Department of Migrant Workers (DMW), and Mario A. Deriquito (seated, right), President of BDO Foundation (BDOF) during the signing of a Memorandum of Agreement between the three parties. Joining them were (standing, from left:) BSP Deputy Governor Mamerto E. Tangonan, Monetary Board Member (MBM) Antonio S. Abacan, Jr., MBM Anita Linda R. Aquino, MBM V. Bruce J. Tolentino, BSP Deputy Governor Mamerto E. Tangonan, Monetary Board Member Antonio S. Abacan, Jr., Monetary Board Member Anita Linda R. Aquino, Monetary Board Member V. Bruce J. Tolentino, Monetary Board Member Eli M. Remolona, BSP Deputy Governor Bernadette Romulo-Puyat, and BSP Deputy Governor Francisco G. Dakila, Jr.
The MOA signing was for the continuation of the Pinansyal na Talino at Kaalaman (PiTaKa) program, which teaches OFWs and their families the value of saving, investing, and achieving financial stability.
Under the PiTaKa program, the BSP, together with the Department of Migrant Workers (DMW) and BDO Foundation, will deliver customized multimedia materials and training modules through “Post-Arrival Orientation Seminars” for OFWs abroad and learning sessions for OFWs and their families based in the Philippines.
Photo shows (from left, seated) CHED Director Cherrie Melanie Ancheta-Diego, Insurance Commissioner Reynaldo A. Regalado, BSP governor Felipe M. Medalla, BPI Foundation (BPIF) Executive Director Owen L. Cammayo, and NEDA Undersecretary Rosemarie G. Edillon. They are joined by (standing, from left) SEC Assistant Director Jernel R. Macatangay, PDIC Officer-in-Charge Sandra A. Diaz, Insurance Deputy Commissioner Ferdinand George A. Florendo, BSP Deputy Governor Romulo-Puyat, BPIF Associate Director Juvylyn S. Reniva, and CHED Chief for Programs and Standards Development Aline Genato-Magalong.
The central bank governor also signed a memorandum of agreement on “Personal Finance 101” with the National Economic and Development Authority (NEDA), Commission on Higher Education (CHED), BPI Foundation (BPIF), and the Insurance Commission.
“Personal Finance 101” is a course module that aims to boost the financial decision-making skills of college students before they join the workforce.
Finally, the BSP has also developed the “Kapital at Ipon Tungo sa Asenso” or “KITA Mo Na!” game in cooperation with the Agricultural Credit Policy Council (ACPC) and the BDO Foundation.
KITA Mo Na! is an interactive game that’s been designed to reinforce positive money habits for small farmers, fisherfolk, and livestock and poultry raisers. It also highlights the importance of formal financial services, bank account ownership, microcredit, and microinsurance.
Photo shows Eleazar Vergara (third from left), a farmer from Dolores, Quezon, while receiving the kit from BSP Governor Medalla (fourth from left). Also joining them in the photo were (from left:) MBM V. Bruce J. Tolentino, ACPC Executive Director Jocelyn Alma R. Badiola, BDO Foundation President Deriquito, and BSP Deputy Governor Romulo-Puyat.
During the launch, the BSP governor also turned over a kit for KITA Mo Na!” to Eleazar Vergara, a farmer based in Dolores, Quezon. He received the kit as a representative of the small farmers and fisherfolks in Quezon province who are beneficiaries of the ACPC.
In a press statement, the BSP stated that these initiatives are being developed in cooperation with various partner organizations to help broaden and deepen the reach of financial education (FinEd) to millions of Filipinos.