Financial education program launched for soldiers




By Rose de la Cruz


To equip over 140,000 uniformed and civilian personnel of the Armed Forces of the Philippines with knowledge and skills to combat unhealthy spending habits and achieve personal financial freedom, the Bangko Sentral ng Pilipinas, AFP and BDO Foundation launched a financial education program in Camp Aguinaldo.


This is aligned with the AFP Transformation Roadmap, which considers financial wellness as a cornerstone of the personal scorecards of AFP personnel.

In a ceremony at the AFP Headquarters, BSP Governor Benjamin E. Diokno; AFP Chief-of-Staff, General Benjamin R. Madrigal Jr. and BDO Foundation President Mario A. Deriquito signed a Memorandum of Agreement (MOA) to work together in crafting tailored and relatable financial education tools to be embedded and delivered in a sustained manner through regular AFP capacity building programs.


The MOA expands the coverage of a separate but related Memorandum of Understanding previously signed by the BSP and BDO Foundation with the Philippine Army to the entire Armed Forces, including the Philippine Air Force (PAF) and Philippine Navy (PN).

“Mahalaga na maging panatag ang bawat miyembro ng Armed Forces sa aspetong pampinansiyal, sapagkat sa kanila nakasalalay ang makabuluhang tungkulin na mapanatili ang kapayapaan at seguridad ng ating bansang Pilipinas. (It is necessary for members of the Armed Forces to be financially secure, as they are charged with the significant task of keeping our country peaceful and secure.),” remarked Diokno.


BDO Foundation President Deriquito added, “We extend our gratitude to AFP and BSP for giving BDO Foundation this unique opportunity to contribute to the AFP Transformation Roadmap, which aims to build a strong, world-class Armed Forces that is a source of national pride.” 

This partnership with the AFP is in addition to those executed by the BSP and BDO Foundation with other government agencies like the Department of Education (DepEd) to cover learners who go through K-12 curriculum, DepEd teachers and non-teaching personnel; the Civil Service Commission to cover the rest of the civil service; and the Overseas Workers and Welfare Administration to cover Overseas Filipino Workers and their families.

By targeting key sectors and partnering with key institutions, the BSP aims to build effective multi-sectoral collaborations in implementing an array of sustainable, scalable financial education programs that can support the establishment of a financially-literate nation—enabling every Filipino to make prudent financial decisions and contribute more productively to the Philippine economy.