BSP youth drive logs 500 new accounts in Southern Leyte
By embedding financial inclusion in the education sector, regulators hope to expand the banking sector’s reach in underserved areas.
Daily TribuneBy embedding financial inclusion in the education sector, regulators hope to expand the banking sector’s reach in underserved areas.
The country’s banking system welcomed more than 500 new account holders in Southern Leyte after students of Southern Leyte State University (SLSU) opened their first bank accounts on 14 August, under the Youth Financial Inclusion (YFI) Initiative.
Launched in January 2025, the program is spearheaded by the Financial Inclusion Steering Committee (FISC) chaired by the Bangko Sentral ng Pilipinas (BSP). It seeks to integrate young Filipinos into the formal financial system by introducing them to transaction accounts, the entry point to a wider range of financial services such as digital payments, savings and credit.
The BSP underscored that financial inclusion among the youth is a long-term investment in the economy, with early access to banking services expected to improve money management, promote savings culture, and expand future participation in formal financial markets.
The Southern Leyte campaign marked the first YFI rollout in the Visayas, with over 1,100 students attending the launch. SLSU students not only received financial literacy sessions from BSP resource persons but also onboarded with participating financial service providers (FSPs) during the event.
Notably, the initiative in Southern Leyte was organized entirely by the YFI Ambassadors for Visayas — student leaders trained to champion financial inclusion among peers. Their grassroots-driven approach reflects the BSP’s strategy of empowering young Filipinos to become advocates of financial health within their own communities.
The YFI is backed by key government agencies under FISC, including the Department of Information and Communications Technology, Department of Finance–Bureau of the Treasury and National Youth Commission, with support from the Presidential Communications Office.