The Bangko Sentral ng Pilipinas (BSP) has partnered with the Microfinance Council of the Philippines, Inc. (MCPI) and the Rural Bankers Association of the Philippines, Inc. (RBAP) to broaden the reach of financial education among low-income families and rural communities, launching new initiatives on May 22, 2025, at the BSP headquarters.
The initiative marks a strategic pivot by the central bank toward deeper public engagement, with a focus on making financial literacy accessible, practical, and relevant to daily life.
Traditionally focused on communication with financial markets, the BSP is now placing equal emphasis on outreach to grassroots sectors to help Filipinos understand economic policies and make sound financial decisions.
The collaborative program will train microfinance institutions (MFIs) and rural banks to deliver community-based financial literacy sessions.
By equipping these institutions with financial education tools, the BSP aims to improve financial behavior, boost income-generating capacity, and enhance consumer protection, particularly in rural and underserved areas.
MCPI, a nationwide network of MFIs, will play a central role in integrating financial literacy into microenterprise services, while RBAP will focus on cascading financial education to farmers, cooperatives, and small rural business owners through its network of rural banks.
The program also targets the upskilling of frontline financial personnel who advise low-income clients.
In addition to training, the BSP rolled out a set of updated financial education modules co-developed with BDO Foundation.
These cover key topics such as fraud prevention, investment basics, digital financial literacy, financial consumer protection, the Personal Equity and Retirement Account (PERA), and the BSP’s role in maintaining economic stability.
The modules are available on the BSP E-Learning Academy (BELA) and TESDA Online Program, allowing for flexible and scalable access nationwide.
They are designed to complement in-person learning and are intended for both financial professionals and the general public.
The initiative underscores the BSP’s commitment to inclusive financial development. By integrating financial literacy into the operational frameworks of MFIs and rural banks, the central bank aims to promote long-term economic resilience at the household level, reduce vulnerability to financial shocks, and support national financial inclusion goals.