The Bankers Association of the Philippines (BAP) through its Education Committee and in partnership with the Bangko Sentral ng Pilipinas (BSP), the Bankers Institute of the Philippines (BAIPhil) and the Bank Marketing Association of the Philippines (BMAP) – recently conducted a Financial Education Programme on 13 March 2015 in Laoag City, Ilocos Norte, Philippines. The event was hosted by the Provincial Government of Ilocos Norte under the able leadership of Governor Imee Romualdez-Marcos.
The event was the third of the five-series seminar of the BAP’s Financial Literacy Program for the families and beneficiaries of overseas Filipino workers (OFW). The aim was to educate them in managing personal finances by introducing the concepts of savings and budgeting; familiarise them with various bank products and services. At the same time provide them with basic information on how to augment their basic income through investments and entrepreneurship; and guide them on the process on how to qualify, apply and availability of microfinance loans to finance their investments.
BAP Education Committee chairman Jaime C. Laya, in his welcome remarks, provided the overview and objectives of the BAP’s financial literacy program. The program was consistent with the BSP’s directive to promote financial inclusion in the country. Speakers from the partner associations talked on personal finance, investment basics and opportunities in microfinance.