BSP, BDO launch financial literacy drive in Parañaque

The Bangko Sentral ng Pilipinas (BSP) and BDO Foundation have partnered to roll out a financial education program aimed at improving money management among fisherfolk and small-scale earners.

Launched in cooperation with the Parañaque local government, the initiative targets vulnerable sectors with irregular income streams, equipping them with basic financial skills such as saving, budgeting, and resource management.

Officials said the program forms part of broader efforts to deepen financial inclusion at the grassroots level, particularly among communities exposed to income volatility and environmental risks.

BDO Foundation President Mario Deriquito said the initiative centers on “partnership, practical knowledge, and preparedness,” noting that financial literacy is key to building resilience among low-income households.

“If people know how to manage their finances, they become resilient,” he said in Filipino.

For its part, the BSP said the program supports its whole-of-society approach to financial education. “This collaboration shows what is possible when the public and private sectors work hand in hand for the good of our communities,” said BSP Economic and Financial Learning Office Director Marianne Santos.

Beneficiaries, including vendors and fisherfolk, said they aim to strengthen their financial habits, particularly in formal banking and savings.

“My husband and I are already saving, but we want to learn more. I want to understand the proper way of saving in a bank,” said Mary Jane Gutierrez, a vendor at Parañaque’s Bulungan Seafood Market.

The program is being implemented with support from local cooperatives and sector groups, alongside participation from city officials, including Parañaque Mayor Edwin Olivarez and District 1 Representative Eric Olivarez.