A National Strategy for Financial Education (NSFE), which aims to strengthen the financial health of Filipinos, will be released this year, the Bangko Sentral ng Pilipinas (BSP) said Thursday.

In a statement, the BSP said the NSFE is being refined through consultations with stakeholders.

The NSFE envisions a society where individuals and families have the knowledge, confidence and resilience to make sound financial decisions through accessible and effective financial education programs.

On Wednesday, the BSP convened government agencies, private sector partners, civil society organizations and development institutions at its head office in Manila for a consultation.

During the consultation, the BSP and its partners presented key findings on the country’s financial education landscape and introduced the draft NSFE framework.

Stakeholders also took part in workshops to share insights and identify initiatives to refine the NSFE and guide priority actions.

These discussions, the BSP said, build on earlier consultations and research on existing financial education initiatives, gaps, and priority areas.

The central bank said input from stakeholders will be consolidated and analyzed to further improve the NSFE.

“No amount of research can replace the insights of those doing the work on the ground. That is why consultations matter. A national strategy only becomes meaningful when government, industry, civil society, and development partners work together to make it succeed. That is when it becomes more than a document,” BSP Deputy Governor Bernadette Romulo-Puyat said.

The NSFE receives technical assistance from the World Bank and input from the Foreign, Commonwealth & Development Office.

It will form part of the broader National Strategy for Financial Inclusion 2022–2028 and will be endorsed to the Financial Inclusion Steering Committee for further approval. (PNA)