Palawan Group partners with BSP to promote financial literacy thru Piso Caravan

The Palawan Group of Companies (PGC) has partnered with the Bangko Sentral ng Pilipinas (BSP) to enhance financial literacy and promote responsible currency management across the Philippines through the BSP Piso Caravan. The collaboration was formalized during a signing ceremony attended by senior officials from both organizations at the BSP headquarters.

The BSP Piso Caravan is a nationwide initiative aimed at supporting the Clean Note and Coin Policy and Coin Recirculation Program. The program’s objectives include accelerating the withdrawal of unfit and mutilated banknotes and coins from circulation, educating the public on proper currency care, promoting financial literacy, encouraging the recirculation of idle coins, and fostering a greater appreciation for the country’s currency.

PGC president and CEO Karlo Eugene Josef Castro expressed the company’s support for BSP's Piso Caravan initiative, “PGC is fully committing to support the BSP Piso Caravan to encourage the public to preserve the integrity of Philippine currency, which will expand financial inclusion in the country.”

“We assure you of the Palawan Group of Companies’ support. Our team is grateful for the privilege of taking part in this initiative which strongly aligns with our mission to provide accessible and reliable financial services to Filipinos across the nation. Through Palawan Pawnshop, Palawan Express Pera Padala, and PalawanPay, we continue to advocate for financial empowerment, responsible money management, and economic participation for every Filipino,” he continued.

Chairman Bobby Castro also reiterated PGC’s commitment to the initiative, emphasizing that proper money management can make a difference in the lives of many Filipinos, “When we started as Palawan Pawnshop nearly 40 years ago, our goal was to be a reliable financial partner, especially for those in need. The BSP Piso Caravan reminds us all that every peso counts and can contribute to personal and national economic growth.”

BSP Deputy Governor Bernadette Romulo-Puyat highlighted the importance of collaboration in ensuring the success of the BSP Piso Caravan, “By working with currency exchange centers like yours, we are ensuring that clean and fit bank notes, as well as coins, continue to circulate smoothly. This helps improve everyday transactions and keeps our currency in good condition for businesses and individuals alike.”

“With over 7,964 locations nationwide, you have built the largest domestic money remittance network in the country. This wide reach makes transactions easier and more convenient for millions of Filipinos,” she added.

PGC has long been an advocate of financial education and economic empowerment, as both are essential to both individual and national prosperity. Through its partnership with the BSP for the Piso Caravan, PGC takes a significant step toward making financial literacy and essential resources more accessible to communities across the Philippines.

With an extensive network of over 70,000 branches, Pera Padala outlets, and PalawanPay Money Shops strategically located nationwide, PGC is uniquely positioned to connect urban centers with rural areas. This ensures that even the most remote communities can benefit from key government initiatives, financial services, and programs aimed at uplifting and empowering every Filipino, regardless of location.

This partnership between PGC and BSP signifies a major step forward in making financial services more accessible, improving currency circulation, and enhancing financial education across the country.

As the BSP Piso Caravan expands its reach, this collaboration will continue to drive positive change in how Filipinos perceive and handle their money, ensuring a more financially responsible and empowered society.