Key stakeholders, leaders, decision-makers, influencers and representatives from public and private institutions, development partners, international organizations, civic society and the academe convened at the SMX Convention Center Manila last 27 and 28 November 2018 for the first ever Financial Education Stakeholders Expo organized by the Bangko Sentral ng Pilipinas (BSP).
In her keynote address, BSP Deputy Governor Chuchi Fonacier stated that “We are all stakeholders with significant roles to play to achieve an obvious public good – a high level of financial literacy in the Philippines… We want this generation, and the next ones, to be highly literate and financially capable to attain prosperity. We have the collective ability to make this happen.”
Department of Education (DepEd) Secretary Leonor Magtolis-Briones, in her keynote, likened the 800,000-strong DepEd personnel to an “army,” underscoring their significant role in teaching young learners the value of prudent money management, and the importance of being models of financial literacy themselves.
In the spirit of partnership, the Expo was supported by Asian Development Bank, Bank Marketing Association of the Philippines, The Praxis Company and Visa Foundation. Expo activities included talks on financial stewardship by well-known personal finance coaches and advocates such as Francis Kong, Salve Duplito, Rose Fres Fausto, Ardy Roberto, Chinkee Tan and Randell Tiongson. Plenary discussions focused on the financial education landscape in the Philippines and around the world, innovative approaches to delivering financial education messages to a variety of audiences, and examples of private sector initiatives in financial education as part of their corporate social responsibility.
Expo participants enjoyed a theater production called “Lukot-Lukot, Bilog-Bilog” which teaches saving and budgeting concepts in a creative way. They also participated in The Praxis Game, an interactive board game that simulates market situations and real life socio-economic scenarios while players make critical financial decisions to finish the game with the highest possible amount of retirement money. Alongside the plenary sessions and activities was an exhibit, wherein selected private and non-government entities showcased their financial education programs and other advocacy activities.
The 2018 Expo is the beginning of an annual tradition where the BSP, DepEd and key financial education stakeholders can continue to engage, build connections and pave the way for more productive, impactful partnerships in financial education.
The Expo supports Republic Act No. 10922, which designates the second week of November as Economic and Financial Literacy Week. It is also aligned with the objectives of the Philippine National Strategy for Financial Inclusion, the BSP advocacy for financial education, and the BSP mandates of maintaining price stability, financial stability and efficient payments system.
Taken after the Expo opening ceremonies, this photo features (left to right) Dr. Noi Keng Koh, Chairperson of the Center for Financial Literacy Singapore, Citi-National Institute of Education Financial Literacy Hub for Teachers; BSP Monetary Board Member V. Bruce J. Tolentino; BSP Deputy Governor Chuchi G. Fonacier; DepEd Secretary Leonor Magtolis-Briones; and Ms. Kelly Hattel, Senior Financial Sector Specialist of Asian Development Bank.
Actors sing the theme song of “Lukot-Lukot, Bilog-Bilog”, a financial education play about spending wisely and saving for important needs. The play is sponsored by Visa Foundation and interpreted by theater production team Haraya Collective.
Expo participants have fun playing the Praxis Game, making saving, credit and investment decisions in a boom, bust, recession and recovery cycles of the Praxis World economy.