Central bank holds learning outreach activities in Ormoc

ORMOC CITY, Leyte, Nov. 22 (PNA) – Bangko Sentral ng Pilipinas (BSP) will conduct the sixth and last leg of its Economic and Financial Learning Program (ELFP) for 2015 in this city on Nov. 23-27.

The EFLP consolidates BSP’s learning outreach activities under one flagship program. It includes a series of learning sessions that aim to promote greater public awareness and understanding of key economic and financial issues.

The ELFP also embodies the goal of BSP to promote economic and financial education among its stakeholders who can then become more effective partners in safeguarding price stability, and ensure a stronger and safer banking and payments system.

Among the activities are Project BSP Reaches Out (BRO), a savings campaign for kids and teens from Grades 1 to 10 scheduled on Nov. 23 at Linao Central School, 9:00-11:00 a.m.; St. Peter’s College, 2:00-4:00 p.m.; and Nov. 24 at Ormoc Central School, 9:00-11:00 a.m.; and New Ormoc National High School, 2:00-4:00 p.m.;

Be up to Speed on BS, an information campaign on BSP’s role in the economy on Nov. 24, 1:30-4:30 p.m. (session for the workforce), and Nov. 25, 8:30 a.m.-12:00 nn (session for students) at Villa Hotel;

Financial Education Expo on Nov. 25, 8:00 a.m.-4:30 p.m. (session for the working sector); and Nov. 26, 8:00 a.m.-4:30 p.m. (session for students and members of the academe) at Sutuwaki restaurant; and,

Paghahanda sa Kinabukasan Financial Learning Campaign for Overseas Filipinos (FLC-OF) and their beneficiaries on Nov. 26, 8:00 a.m.-1:00 p.m. at Villa Hotel.

Project BRO is a new learning session which was launched in Davao City last July 6 and forms part of BSP’s efforts to foster the habit of saving early in Filipinos’ lives. It features interactive lectures and discussions about the value of spending wisely, saving early and saving in banks.

After the session, the BSP will track the students’ saving habits by closely coordinating with teachers and school officials for the purpose of encouraging the youngsters to open and grow savings accounts in banks. This learning activity is in partnership with the Education Department and Bank Marketing Association of the Philippines.

The Be up to Speed on BSP will cover recent economic developments and BSP’s role in the economy with emphasis on the three pillars of central banking, i.e., price stability, financial stability and efficient payments and settlements system. Two sessions will be conducted: one for the workforce (including representatives from government agencies, business sector and banking community), and another for students and other members of the academe.

The Paghahanda sa Kinabukasan FLC-OF aims to educate participants on the importance of using remittances to build up savings and directing these into investments in financial products and business ventures.

Officials from BSP as well as the Department of Trade and Industry will give briefings on topics such as financial planning, investment and business opportunities.

Through this learning advocacy, BSP hopes to help overseas Filipinos and their beneficiaries achieve financial security, bring them into the fold of the formal financial system, and enable them to participate more meaningfully in the country’s economic development.

Finally, the Financial Education Expo offers various financial education activities for students, professionals and others from the public and private sectors. It features learning booths with audio-visual presentations, graphic displays and interactive activities that will help participants become self-reliant in promoting their financial welfare.

Two separate sessions of the Financial Empowerment Course which is an integral part of the Expo will also be conducted for students and members of the workforce. The learning sessions will present the importance of financial education, the Philippine financial system, basics of budgeting, saving, investing and borrowing, financial planning for life-cycle events, and credit card awareness. (PNA)