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BSP Joins Celebration of Economic and Financial Literacy Week

11.08.2016

The Bangko Sentral ng Pilipinas (BSP) joins the first nationwide celebration of the Economic and Financial Literacy Week (EFLW) with the conduct of various learning activities, including its Economic and Financial Learning Program (EFLP). The observance of the EFLW is mandated by Republic Act (RA) No. 10922, also known as the Economic and Financial Literacy Act, which aims to develop national consciousness on economic and financial literacy by declaring the second week of November of every year as economic and financial literacy week. For 2016, the theme is “Pera at Ekonomiya: Usapang May Kwenta.”

The BSP will conduct economic and financial learning activities to coincide with the celebration of the 2016 EFLW, including information campaigns, lectures, seminars, briefings, signing of Memorandum of Agreement/Understanding (MOA/MOU), expos and an awarding ceremony (see attached schedule of activities).

Moreover, the fifth leg of the BSP’s EFLP will be held in Malolos City on 15-17 November 2016.  The EFLP consolidates the learning outreach activities of the BSP under one flagship program.  It includes a series of learning sessions that aim to promote greater public awareness and understanding of key economic and financial issues. The EFLP also embodies the goal of the BSP to promote economic and financial education among its stakeholders, who can then become more effective partners of the BSP in safeguarding price stability and in ensuring a stronger and safer banking and payments system.

Under the EFLP, the following  programs will be conducted:

•  “Be up to SPeed on BSP,” Information Campaign on the Role of the BSP in the Economy, 15 November 2016, Tuesday, 8:30 a.m. to  1:00 p.m., Club Royale , Malolos City;
• “Know Your Money” Briefing (module for cash handlers), 15 November 2016, Tuesday, 2:00 p.m. to 5:00 p.m., Club Royale, Malolos City;
• “Paghahanda sa Kinabukasan,” Financial Learning Campaign for Overseas Filipinos and their Beneficiaries, 16 November 2016, Wednesday, 8:00 a.m. to 1:00 p.m., Club Royale, Malolos City; and
• Financial Education Expo, 16 November 2016, Wednesday, 8:00 a.m. to 4:00 p.m. (module for the working sector), and 17 November 2016, Thursday, 8:00 a.m. to 4:00 p.m. (module for students and members of the academe), DJ Paradise Resort, Malolos City.

The “Be up to SPeed on BSP” information campaign will cover recent economic developments and the role of the BSP in the economy, with emphasis on the three pillars of central banking, i.e., price stability, financial stability and efficient payments and settlements system. 

The “Know Your Money” briefing aims to educate cash handlers from transport groups, cooperatives, supermarkets and retail stores on the proper identification and handling of unfit, mutilated and counterfeit banknotes and coins. Topics to be covered include: 1) New Design Series (NDS) banknotes demonetization; 2) security features of the New Generation Currency (NGC) banknotes; 3) relevant provisions of the BSP Clean Note and Coin Policy; and 4) Coin Recirculation Program. The BSP recognizes the vital role of cash handlers in the preservation of the integrity of Philippine banknotes and coins.
 
The “Paghahanda sa Kinabukasan” Financial Learning Campaign for Overseas Filipinos and their Beneficiaries (FLC-OF) aims to educate participants on the importance of using remittances to build up savings and directing these into investments in financial products and business ventures. Through this learning advocacy, the BSP hopes to help overseas Filipinos and their beneficiaries achieve financial security, bring them into the fold of the formal financial system, and enable them to participate more meaningfully in the country’s economic development.  Officials from the BSP, as well as from the Department of Trade and Industry (DTI), will give briefings on topics such as financial planning, investment, and business opportunities.

The Financial Education Expo offers various financial education activities for students, professionals and others from the public and private sectors. It features learning booths with audio-visual presentations, graphic displays and interactive activities that will help participants become self-reliant in promoting their financial welfare.  Two separate sessions of the Financial Empowerment Course, which is an integral part of the Expo, will also be conducted for students and members of the workforce. The learning sessions will present the importance of financial education, the Philippine financial system, basics of budgeting, saving, investing and borrowing, financial planning for life-cycle events, and credit card awareness.

RA No. 10922 identifies the BSP as one of  the key partners to   be   convened  by the lead agency,  the National Economic and Development Authority (NEDA), for  the  EFLW celebration. Other government agencies include, among others, the: 1) Department of Finance (DOF); 2) Department of Education (DepEd); 3) Commission on Higher Education (CHED); 4) National Youth Commission (NYC); and the 5) Department of Interior and Local Government (DILG).

Interested parties may contact Ms. Michelle N. Andres at telephone number (+632)708.7275 or email address aandres@bsp.gov.ph.

View Schedule of Activities

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