Bangko Sentral ng Pilipinas Governor Nestor Espenilla Jr. said financial education is a powerful tool that supports not only individual well-being but also economic growth.
“Filipinos with the ability to understand, select and use financial services suitable for their needs can better take advantage of economic opportunities, and gain maximum benefit from participating in the formal financial system,” Espenilla said recently.
“It is the BSP’s conviction that a financially-educated Filipino is an empowered Filipino, able to make wise financial decisions that positively impact personal financial circumstances, and consequently contribute to inclusive and sustained economic development,” he said.
Bangko Sentral Deputy Governor Chuchi Fonacier said improving the financial literacy and capability levels of Filipinos requires collaborative effort among multiple stakeholders from the government and private sectors.