The Bangko Sentral ng Pilipinas (BSP) has signed a memorandum of agreement (MOA) with the Technical Education and Skills Development Authority (TESDA), and BDO Foundation on the development of a free online course on personal finance.
In a media advisory, the BSP said that the agreement with TESDA and BDO Foundation aims to boost the financial health of over four million students of technical and vocational (Tech-Voc) skills in the country.
Photo shows (from left): TESDA Director General Danilo P. Cruz, BSP Governor Felipe M. Medalla, and BDO Foundation President Mario A. Deriquito showing a copy of the MOA after the signing ceremony.
The MOA was signed by BSP Governor Felipe M. Medalla, BSP Deputy Governor Bernadette Romulo-Puyat, TESDA Director General Danilo P. Cruz, TESDA Deputy Director General Rosanna A. Urdaneta, BDO Foundation President Mario A. Deriquito, and BDOF Trustees Lucy Co Dy and Lazaro Jerome C. Guevarra.
Based on the agreement, a “Financial Literacy Course” (FLC) will be made available to technical-vocational education and training (TVET) learners and the general public via the TESDA Online Program (www.e-tesda.gov.ph) by 2024.
It will also be launched under the platform’s “Lifelong Learning Skills” courses.
Topics to be covered in the FLC include financial planning, saving and budgeting, debt and investment management, digital financial literacy, and consumer protection.
The vital role of TVET learners cited
“The BSP recognizes the vital role of TVET learners, whether they decide to pursue employment or entrepreneurship here or abroad. Through the FLC, we empower them to take charge of their own personal and financial growth. This ownership, in turn, empowers them to unlock better outcomes and opportunities for themselves, for their families, and for our economy,” stated BSP Governor Felipe Medalla.
“Sustainable public-private partnerships are instrumental in developing more financial education programs that are free, effective, accessible, interactive, and scalable. This greatly expands the reach of our financial inclusion efforts,” the BSP chief further said.
According to the same media advisory, the FLC is aligned with the objectives and priority initiatives under the BSP’s National Strategy for Financial Inclusion 2022-2028, which aims to promote financial education and consumer protection by strengthening the financial and digital literacy of underserved sectors.
“Through this partnership, we hope to be able to help enhance the economic well-being of our learners. Thank you, BSP and TESDA, for giving BDO Foundation this opportunity to participate in yet another project that will contribute to creating a financially inclusive future,” beamed Mario A. Deriquito, BDO Foundation President.
“This joint initiative forms part of our continuing contribution to the BSP’s financial inclusion advocacy,” he added.
TESDA Director General Danilo P. Cruz, for his part, said, “The 21st-century workplace demands workers to demonstrate self-management and develop attitudes toward lifelong learning and career development. This enables them to make sound financial decisions toward the attainment of their life and career goals.”
