The Bangko Sentral ng Pilipinas (BSP) has recently partnered with the Microfinance Council of the Philippines, Inc. (MCPI) and the Rural Bankers Association of the Philippines, Inc. (RBAP) to expand financial education for low-income families.
During the launch of the financial education (fin-ed) programs on May 22, 2025, at the BSP head office in Manila, BSP Governor Eli M. Remolona, Jr., stressed the need for broader public engagement, saying, “Traditionally, central banks have prioritized communication with markets, but broader public engagement is just as essential.”
He likewise underscored fin-ed’s role in helping people understand policies better and make informed financial decisions.
BSP Deputy Governor Bernadette Romulo-Puyat in a pre-recorded speech
Deputy Governor Bernadette Romulo-Puyat highlighted that the goal is to make financial education a practical part of everyday life. “Whether you’re a microentrepreneur managing a business, a rural banker advising a farmer, or a learner gaining new skills, financial literacy should be useful, relatable, and rooted in real-life decisions.”
BSP’s collaborative push to enhance fin-ed for inclusive growth
The speakers and participants in one of the BSP’s sessions on Financial education sessions
MCPI Chairperson Gilbert Maramba emphasized the partnership’s role in strengthening microfinance institutions (MFIs) financial education programs. “Microfinance institutions with good financial education tend to be able to serve their clients better. Their clients are able to increase their income faster, and therefore, we will be able to achieve our vision and mission of helping the poor faster.”
RBAP President Jose Paolo Palileo highlighted the initiative’s goal to enhance financial literacy in rural communities. “Through this training program, we see an opportunity not only to sharpen the financial literacy of our rural bank personnel, but also to cascade these learnings to our clients.”
The BSP, MCPI, and RBAP are leveraging their expertise to train MFIs and rural bankers in conducting financial learning sessions.
MCPI, a network of MFIs, supports entrepreneurs through a wide range of accessible financial services. Meanwhile, RBAP is a national association of rural banks that provide credit to farmers, fishermen, cooperatives, and merchants in rural areas.
The BSP has also launched new fin-ed modules co-developed with BDO Foundation. Topics include investment, fraud and scam prevention, financial consumer protection, digital financial literacy, the Personal Equity and Retirement Account,[1] and the BSP’s role in the economy.
These modules can be accessed through the BSP E-Learning Academy (BELA) and Technical Education and Skills Development Authority (TESDA) e-learning platform or TESDA Online Program, complementing face-to-face fin-ed programs.
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[1] Personal Equity and Retirement Account or PERA is a voluntary retirement saving program that supplements the existing retirement benefits from Social Security System, Government Service Insurance System, and employers.