Ke REPRES,

Republic of the Philippines
HOUSE OF REPRESENTATIVES
Quezon City, Metro Manila

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TWENTIETH CONGRESS
1 Regular Session

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House Bill No.

Introduced by Representative OMAR S. DUFERTE

EXPLANATORY NOTE

Financial literacy and entrepreneurship are increasingly recognized as indispensable life skills in
this fast-paced society, serving as cornerstones for economic empowerment, poverty reduction,
and long-term national development. In the Philippines, millions remain vulnerable to economic
shocks and financial mismanagement. Hence, it becomes of primordial importance to equip
citizens with the knowledge t0 make sound financial decisions and develop income-generating

activities.

Despite the proliferation of digital financial technologies, which is fueled by the COVID-19
pandemic and the rapid expansion of cashless transactions, the Philippines continues to face
alarmingly low levels of financial literacy. According to the World Bank, only 25% of Filipino
adults possess basic financial knowledge, a finding echoed by the Bangko Sentral ng Pilipinas
(BSP). This gap is especially concerning given the growing complexity of financial products and

the rising prevalence of digital lending, online scams, and unsustainable consumer debt.

To address this gap, this bill proposes the inclusion of Financial Literacy and Entrepreneurship
as core subjects in the junior and senior high school curricula of both public and private schools.
‘The proposed measure aims to institutionalize financial education as part of the formal learning
system—embedding it carly in the educational journey, at a time when lifelong habits and skills

are formed.

‘This measure builds upon Section 4 of Republic Act No. 10922, or the Economic and Financial

Literacy Week Act, which mandates the promotion of financial literacy among Filipinos. It aligns

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with the need to overhaul curriculum priorities and focus on foundational and future-rcady skills

to improve educational outcomes and relevance.
When young Filipinos are empowered to start micro-businesses, manage capital responsibly, and
contribute to houschold or community income, they become agents of inevitable economic

progress in the country.

In view of the foregoing, the immediate passage of this bill is earnestly sought.

. OMAR S. RTE


Republic of the Philippines
HOUSE OF REPRESENTATIVES
Quezon City, Metro Manila

TWENTIETH CONGRESS
1 Regular Session

House Bill No,_ 499

Introduced by Representative OMAR S. DUFERFE

AN ACT
REQUIRING THE INCLUSION OF FINANCIAL LITERACY AND
ENTREPRENEURSHIP AS SEPARATE CORE SUBJECTS IN FHE JUNIOR AND
SENIOR HIGH SCHOOL CURRICULA OF THE K-12 PROGRAM, AMENDING
FOR THE PURPOSE REPUBLIC ACT NO. 10679, OTHERWISE KNOWN AS THE
“YOUTH ENTREPRENEURSHIP ACT”

Be it enacted by the Senate and House of Representatives of the Philippines in Congress assembled:

SECTION 1. Financial Literacy and Entrepreneurship Subjects. - Section 4 of
Republic Act No. 10679 is hereby amended to read as follows:

"SECTION 4. Youth Entrepreneurship and Financial Literacy
Program. - ‘The promotion of youth entrepreneurship and financial literacy
program shall be inculcated in all levels of education nationwide. Consistent with
Section 5 of Republic Act No. 10533, or the "Enhanced Basic Education Act of
2013", the Department of Education (DepED) shall ensure that the K to 12
curriculum shall be supported by programs on entrepreneurship and financial
racy: Provided, ‘That at the clementary level, the programs referred to shall
principally focus on the ideal values necessary to become successful
entrepreneurs.

THERE SHALL BE SEPARATE CORE SUBJECTS ON
FINANCIAL LITERACY AND ENTREPRENEURSHIP IN THE
JUNIOR AND SENIOR HIGH SCHOOL CURRICULA OF BOTH
PUBLIC AND PRIVATE SECONDARY SCHOOLS NATIONWIDE.

‘The Commission on Higher Education (CHED) and the Technical
Education and Skills Development Authority (TESDA) shall ensure the
promotion of programs on entrepreneurship and financial literacy.”

SEC. 2. Development of Subject Content. - Section 6 of Republic Act No. 10679 is
hereby amended to read as follows:

"SEC. 6. Duties of the EEC. - The EEC shall:

a. Formulate a national plan of action for the implementation of this Act;


b. Study and standardize all current programs of schools and institutions on entrepreneurship
and financial literacy;

c. Research current government efforts in forcign countries with the end view of applying
relevant practices in our education system;

d, Provide assistance, training, and support to ensure coherence and clear progression of the
objectives of this Act, namely:

1. Provide information on available government and nongovernment assistance and
training programs that may be availed of by students for further training and possible
entrepreneurial and financial ventures;

Develop mentoring and coaching programs for young entrepreneurs in coordination

with eligible entities to facilitate sharing of technical knowledge and skills/technology

transfer;

3. Set up enterprise incubation laboratories and creative spaces in schools and communities
in coordination with cligible entities to encourage enterprise creation and development;
and

4, Coordinate with the Department of Agriculture and Land Bank of the Philippines to
develop lending and other support programs specifically for agriculnure-rclated
entrepreneurship activities; and

i)

(E) CONDUCT A MULTI-SECTORAL CONSULTATION WITH EDUCATORS
FROM PUBLIC AND PRIVATE HIGH SCHOOLS, MEMBERS OF THE
NATIONAL CHAMBERS OF COMMERCE AND INDUSTRY, LEADING
ENTREPRENEURS AND THE PUBLIC AT LARGE FOR THE PURPOSE OF
DETERMINING THE APPROPRIATE CONTENT AND SCOPE OF THE
FINANCIAL LITERACY AND ENTREPRENEURSHIP SUBJECTS; AND

{8 (F) Fxercise such other powers as may be necessary to carry out the purposes of this Act.”

SEC 3. Implementing Rules and Regulations. — Within sinety (90) days after the
effectivity of this Act, the DepEd Secretary, CHED Chairperson and the TESDA
Director-General, in coordination with the National Youth Commission, shall formulate the
rules and regulations necessary for the implementation of this Act.

SEC 4. Repealing Clause. — All laws, decrees, orders, rules and regulations or other
issuances or parts thercof inconsistent with the provisions of this Act are hereby repealed and
modified accordingly.

SEC 5. Separability Clause. — If any provision or part hereof is held invalid or
unconstitutional, the same shall not affect the validity and effectivity of other provisions.

SEC 6. Effectivity Clause. — This Act shall take effect fifteen (15) days after its
publication in the Official Gazette or in any newspaper of general circulation.

Approved,