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March 01, 2024

BSP ramps up financial literacy drive

In recognition of the importance of developing the personal finance skills of both teachers and learners, the Bangko Sentral ng Pilipinas (BSP) is further intensifying its efforts to boost overall financial education in the Philippines.

BSP Governor Benjamin Diokno said the central bank’s two-pronged approach for the education sector involves embedding financial literacy concepts in the basic education curriculum and integrating personal financial management in the regular training of teaching and non-teaching personnel of the Department of Education (DepEd).

As part of the first approach, Diokno said during the recent IPON Conference that the DepEd’s “Financial Education Policy” has helped integrate financial education in the K-to-12 curriculum.

To support the second approach, IPON was launched to promote financial learning among DepEd workers, teachers, and parents.

Under its Digital Payments Transformation Roadmap, the BSP aims to increase the number of Filipino adults with bank accounts to 70 percent and shift 50 percent of total retail transactions to electronic channels by 2023.

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