The Bangko Sentral ng Pilipinas (BSP) launched new financial education course materials for out-of-school youth and adults in collaboration with the Department of Education (DepEd) and USAID Opportunity 2.0 Program. (From left to right: Education Development Center’s Philip Purnell, BSP Deputy Governor Bernadette Romulo-Puyat, DepEd Undersecretary Peter Irving Corvera, and DepEd Bureau of Alternative Education Director III Lynn Padillo).
The Bangko Sentral ng Pilipinas (BSP) and its partners emphasized the transformative power of digital technology in enhancing financial literacy among Filipinos during the Financial Education (Fin-Ed) Stakeholders Congress held on November 19-20, 2024, at the Philippine International Convention Center in Pasay City.
Themed “BSP and Partners: From Financial Education to Economic Empowerment for Sustainable Growth,” the two-day event explored innovative ways to empower Filipinos with financial knowledge and skills to make informed decisions on saving, investing, and retirement planning.
BSP Deputy Governor Romulo-Puyat highlighted digitalization’s role in expanding financial education’s reach and effectiveness. “Financial education gains momentum when we embrace technology, making lessons and tools more accessible and ensuring they reach people wherever they are,” Puyat stated.
Power panelists, including celebrity guests Ms. Dimples Romana and Ms. Aya Fernandez, pose during the final session of Day 1, titled “Empowering Individuals and Communities through Tailored Financial Education Programs for Financial Independence and Resilience.” The session was moderated by Ms. Salve Duplito.
A vital feature of this initiative is the BSP E-Learning Academy (BELA), an online platform providing free courses on personal finance. Soft-launched in August 2024, BELA will be fully accessible by 2025, enabling Filipinos to acquire financial skills anytime and anywhere.
The BSP is committed to upgrading its Fin-Ed programs, particularly for underserved groups, including students, teachers, farmers, fisherfolk, Overseas Filipino Workers and their families, micro, small, and medium enterprises, civil servants, and uniformed personnel.
Innovations in financial education
The congress also highlighted cutting-edge technologies such as augmented and virtual reality and artificial intelligence in financial education. New learning materials were introduced for key sectors, such as out-of-school youth, civil servants, police officers, and firefighters.
A new partnership with the Department of Education (DepEd) was formalized to strengthen financial literacy initiatives targeting K-12 students and educators nationwide.
Empowering Filipinos for economic growth
The second day of the congress focused on “Empowering One, Empowering All: How Economic and Financial Education Builds Resilient Filipinos and a Stronger Philippine Economy.” Participants from the academe and workforce engaged in discussions on personal finance, the broader economic impact of individual financial decisions, and the critical role of regulators in ensuring secure financial transactions.
The event also featured inspiring testimonials and expert insights, underscoring the importance of financial literacy in achieving economic resilience and independence.
Aligned with the observance of Economic and Financial Literacy Week, the congress showcased how digital technology can bridge gaps in financial education, paving the way for a more financially empowered and inclusive society. Sessions were streamed live on the BSP’s Facebook pages, extending the event’s reach to online audiences.