DepEd, BSP, BDO Foundation tie up for financial literacy program

MANDALUYONG CITY -- Education Secretary Leonor Magtolis Briones led the launch of the Financial Literacy Program for Schools, a partnership project of Bangko Sentral ng Pilipinas (BSP), Department of Education (DepEd), and BDO Foundation (BDOF), on May 28, 2018 at the BDO Corporate Center in Ortigas, Mandaluyong City.

During her keynote address, Briones reiterated the importance of financial literacy in finding solutions to life’s challenges.

“This is what financial literacy is all about. It’s finding solutions to challenges that we face. It’s finding solutions to reaching the goals that you want to reach, what you want to be, and what you want to do with the rest of your lives.”

Having already incorporated Financial Literacy in the K to 12 Basic Education Program, and in the in-service training (INSET) program for teachers and non-teaching personnel, the Department partnered with BSP and BDOF to further advance the development of financial education initiatives.

The Memorandum of Agreement (MOA) was signed by Briones, together with BSP Governor Nestor Espenilla Jr., and BDOF President Mario Deriquito.

Also present in the launch and MOA signing were DepEd Undersecretary for Finance, Accounting, and Employee Account Management Victoria Catibog, and Undersecretary for Legislative Affairs, External Partnerships, and School Sports Tonisito Umali.

Learner-friendly materials

The partnership includes the distribution of learning materials, primarily videos, which shall be used for the training of teachers and non-teaching personnel, and for classroom instruction accompanied by teachers’ guides.

The learner-friendly videos, which shall be made available through various formats -- DVD, USB sticks, Learning Resource Materials Development System (LRMDS), links, etc., based on the needs and capabilities of the schools -- were also previewed during the launch. The materials focus on simple ways to save and manage one’s expenses.

“We really appreciate our partners, BDO and Bangko Sentral ng Pilipinas, for taking the initiative in helping us out in fulfilling the requirements of law,” Briones mentioned, referring to Republic Act 10922, otherwise known as the “Economic and Financial Literacy Act,” which mandates DepEd to “ensure that economic and financial education becomes an integral part of formal learning.”

“Therefore, this is really a wonderful development for all of us not only in the public school system, but in the education system as well,” the Education chief added.

Personal capacitation, improvement

The Secretary further emphasized how this initiative goes beyond the provisions of the law.

“It’s not only a response to requirements of law, but to our own professional capacitation, to our own personal improvement. It’s always a good thing to learn to be aware, to know what the greatest developments in our particular field are, because it makes us great teachers. But at the same time, it’s also a good thing to learn something which will help us manage our personal affairs,” she explained.

The collaborating agencies believe that institutionalizing financial literacy in the curriculum is a crucial step towards a “financially-learned citizenry” who shall better contribute to nation-building in the future.

“So we hope that we in the DepEd, especially the teachers, especially the learners, will accept and receive this gift in the spirit of love that it is given to us, in the spirit of caring for our future, not only for our personal future, but the future of the learners whom we are sworn to serve and to mentor,” Briones concluded.

The learning tools are set to be used by approximately 700,000 teachers and non-teaching personnel, for the benefit of the millions of students from public schools nationwide. (PR)