Philippine Standard Time:

The Bureau of Labor Relations (BLR) employees participated in the Financial Education Expo on 26-27 October 2016 at the Bangko Sentral ng Pilipinas Assembly Hall in Malate, Manila. The Banking Industry Tripartite Council (BITC) in coordination with the Bangko Sentral ng Pilipinas-Financial Consumer Protection Department (BSP-FCPD) and the Department of Labor and Employment (DOLE) conducted the two-day event.

Approximately 130 participants composed of representatives from the labor and employers sectors from the BITC, various associations in the banking industry, and social partners such as Insurance Commission, Philippine Deposit Insurance Corporation, Securities and Exchange Commission were present in the activity.

The two-day event offered various financial education activities which aimed to instill awareness about the availability and accessibility of financial education program to all Filipinos, increase personal financial consciousness on the values and benefits of being financially empowered, and orient the public about available financial tools that can help in the promotion of their financial well-being. The activity featured five sessions aimed to develop an understanding of the Philippine financial system, consumer assistance mechanism, personal finance and financial consumer protection. It also showcased the Alerto Ako Exhibit which aimed to provide financial consumers with greater awareness on various financial frauds and scams and the necessary precautionary measures.

“Financial literacy is important as it is one of the critical life skills needed to make the most out of life,” FCPD Director Prudence Angelita A. Kasala said in her message. FCPD Assistant Governor Johnny Noe E. Ravalo emphasized that saving entails a commitment.

“We want to make a little bit of difference through this event because no matter what you think, it is not what you think. The element of time makes a difference in terms of a person’s financial goals,” Asst. Governor Ravalo said in his closing remarks.