BSP, MCPI, RBAP Partner to Boost Financial Literacy

The Bangko Sentral ng Pilipinas partnered with the Microfinance Council of the Philippines Inc. and the Rural Bankers Association of the Philippines to expand financial education for low-income families.

During the launch of the financial education programs on May 22, 2025, at the BSP head office in Manila, BSP Governor Eli M. Remolona Jr. emphasized the need for broader public engagement.

“Traditionally, central banks have prioritized communication with markets, but broader public engagement is just as essential,” Remolona said.

He highlighted financial education’s role in helping people understand policies and make informed financial decisions.

Deputy Governor Bernadette Romulo-Puyat said the goal is to make financial literacy 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,” she said.

MCPI Chairperson Gilbert Maramba said the partnership will strengthen financial education efforts by microfinance institutions.

“MFIs with good financial education tend to serve clients better,” Maramba said.

“Their clients increase income faster, helping us achieve our mission of supporting the poor more efficiently.”

RBAP President Jose Paolo Palileo said the initiative aims to improve 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,” Palileo said.

BSP, MCPI and RBAP are combining their expertise to train MFIs and rural bankers in conducting financial learning sessions.

MCPI, a network of MFIs, supports entrepreneurs through accessible financial services.

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 financial education modules co-developed with BDO Foundation.

Topics include investing, fraud and scam prevention, financial consumer protection, digital financial literacy, the Personal Equity and Retirement Account, and the BSP’s role in the economy.

These modules are available through the BSP E-Learning Academy and the Technical Education and Skills Development Authority’s online platform.

They complement face-to-face financial education programs.