DepEd strengthens financial literacy in schools

EDUCATION Secretary Leonor Briones led the launch of the Financial Literacy Program for Schools, a partnership project of the Bangko Sentral ng Pilipinas (BSP), Department of Education (DepEd), and BDO Foundation in Mandaluyong City.

In her keynote address, Briones reiterated the importance of financial literacy.

“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,” she said.

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 Education department partnered with BSP and BDOF to further advance the development of financial education initiatives.

A Memorandum of Agreement was signed by Briones, together with BSP Governor Nestor Espenilla Jr., and Banco de Oro Foundation President Mario Deriquito, a former DepEd undersecretary.

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.

“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 said.

“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 added.

Republic Act 10922, otherwise known as the “Economic and Financial Literacy Act,” mandates DepEd to “ensure that economic and financial education becomes an integral part of formal learning.”

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