When the Banko Sentral ng Pilipinas launched the National Strategy for Financial Inclusion program last 2015, various national government agencies as well as the private sectors have come up with several ways on how to empower and educate the Filipinos especially the youth on how to make informed financial decisions.
VISA, the multinational financial services corporation, have come up with an inventive idea to participate in this nationwide program, one that will surely tap on the awareness of today’s youth and most specifically the so-called millennials. The program, in the form of an interactive play is titled “Lukot-lukot, Bilog-bilog” pertaining to money bills and coins.
In the panel discussion before the initial showing of the interactive play, the importance of financial literacy program in the country was touched upon by guest panelists Dan Wolbert, Visa Philippines Head of Sales, BSP Inclusive Finance Advocacy head Pia Roman-Tayag, Teach for the Philipppines Chief Strategy Officer Patricia Lim and Tanghalang Pilipino Artisitc Director Nanding Josef.
Visa strongly believes in the importance of financial literacy and that it is the key area of focus of Visa’s corporate social responsibility efforts especially to millennials
What is fresh and interesting about this interactive play, which was developed by Tanghalang Pilipino (TP), the resident drama company of the CCP (Cultural Center of the Philippines), and BSP (Bangko Sentral ng Pilipinas), is that it will feature our national heroes Apolinario Mabini and Jose Rizal in different scenarios, as a Filipina senior high school student named Gwyneth is challenged to make financial decisions to differentiate needs versus wants in spending.
Designed to empower and educate the Filipino youth to make informed financial decisions, this play is the first program of its kind. “The informative and interactive performances will stimulate creativity and challenge its audience on their perception of money. By presenting economic concepts in realistic and entertaining situations, we hope that audiences wil find it easier to apply their learning in their daily lives,” says Nanding Josef, Tanghalang Pilipino Artistic Director.
Starting this October, “Lukot-lukot, Bilog-bilog” will be performed in close to 10 different schools to make financial literacy education more accessible to the students. Visa hopes this program targets will reach at least 3,500 students nationwide within a year.
“We believe that financial education should be introduced to learners early on, especially key concepts including budgeting, investing, and setting financial goals. Innovative approach such as blending education and arts are most welcome and can help the existing programs of the government. This is a tangible support from the private sector of the objectives of the NSFI, particularly the pillars on financial education and consumer protection.” says BSP Inclusive Finance Advocacy head Pia Roman-Tayag.
Visa’s financial literacy initiative also aims to reach out to students under Teach for the Philippines, a program Visa has been actively involved with previously.