Republic of the Philippines 
HOUSE OF REPRESENTATIVES 
Quezon City, Metro Manila 
Eighteenth Congress 
Third Regular Session 
HOUSE BILL NO. 
Introduced by 
HON. AMIHILDA J. SANGCOPAN, Anak Mindanao (AMIN) Party-List, HON. MUJIV S. 
HATAMAN , Lone District of Basilan, HON. ANGELICA NATASHA CO, BHW Party-List 
HON. SANDRO L. GONZALEZ, Marino Party-List, HON. PAOLO Z. DUTERTE, 1st
District of Davao City, and HON. MACNELL M. LUSOTAN, Marino Party-List 
EXPLANATORY NOTE 
This bill seeks to integrate financial literacy in the livelihood programs of the 
government. 
The livelihood programs implemented by the different government agencies are 
intended to reduce poverty by helping the poor gain access to business opportunities. 
The business opportunities are the means for the poor to sustain the basic necessities 
of life, not only food, shelter and clothing, but more importantly, education and 
healthcare. 
To realize the purpose and goals of livelihood programs, it is not enough to 
provide access to the poor or give them business opportunities. It is imperative that 
they also become financially literate so that they have a higher chance of achieving 
financial freedom and truly improve their quality of life. It is for this reason that this 
bill seeks to require financial literacy to be an integral part of the livelihood programs 
of the government. 
December 1, 2021
2:47 pm
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This bill proposes that every qualified beneficiary, before getting the benefits of 
any livelihood program, must be required to attend a series of financial literacy 
seminars, trainings or workshops. The modules and learning materials for the financial 
literacy seminar, training or workshop shall be jointly formulated by the member- 
agencies of the proposed Financial Literacy Inter-Agency Committee headed by the 
National Economic and Development Authority. 
During the financial literacy seminar, training or workshop, the beneficiaries 
will be trained on how to handle their finances and make informed financial decisions. 
They will learn the importance of increasing their savings. More importantly, they will 
learn their rights as consumers and protect themselves from predatory lending. 
Teaching financial literacy must be a continuing activity and not simply a one- 
time seminar, training or workshop. In addition, government agencies implementing 
livelihood programs shall establish an information desk where the beneficiaries may 
continually make inquiries about their financial matters. 
In view of the foregoing, the passage of this bill is earnestly sought. 
HON. AMIHILDA J. SANGCOPAN 
HON. MUJIV S. HATAMAN 
Representative 
Deputy Speaker 
Anak Mindanao (AMIN) Party-List 
Lone District of Basilan 
HON. ANGELICA NATASHA CO 
HON. SANDRO L. GONZALEZ 
Representative 
Representative 
BHW Party-List 
Marino Party-List 
HON. PAOLO Z. DUTERTE 
HON. MACNELL M. LUSOTAN 
Representative 
Representative 
1st District of Davao City 
Marino Party-List 


Republic of the Philippines 
HOUSE OF REPRESENTATIVES 
Quezon City, Metro Manila 
Eighteenth Congress 
Third Regular Session 
HOUSE BILL NO. 
Introduced by 
HON. AMIHILDA J. SANGCOPAN, Anak Mindanao (AMIN) Party-List, HON. MUJIV S. 
HATAMAN , Lone District of Basilan, HON. ANGELICA NATASHA CO, BHW Party-List 
HON. SANDRO L. GONZALEZ, Marino Party-List, HON. PAOLO Z. DUTERTE, 1st
District of Davao City, and HON. MACNELL M. LUSOTAN, Marino Party-List 
AN ACT 
INTEGRATING 
FINANCIAL 
LITERACY 
IN 
THE 
LIVELIHOOD 
PROGRAMS OF THE GOVERNMENT AND APPROPRIATING FUNDS 
THEREFOR 
Be it enacted by the Senate and House of Representatives of the Philippines in 
Congress assembled: 
SECTION 1. Short Title. – This Act shall be known as the “Financial Literacy 
in Livelihood Programs Act.” 
SEC. 2. Declaration of Policy. – The State promotes a just and dynamic social 
order that will ensure the prosperity and independence of the nation and free the people 
from poverty through policies that provide social services, promote full employment, 
a rising standard of living, and an improved quality of life for all. 
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Pursuant to this, the State recognizes the capacity for economic growth of a 
country through financially literate members of society who make sound financial 
decisions, mobilize savings, have knowledge of financial concepts, and engage in 
financial planning. In line with the State declaration to improve the quality of life for 
all, the State shall integrate financial literacy, its principles and application, as a 
component of present and future livelihood programs. It shall be translated as financial 
skill and capacity of the beneficiaries who are members of the vulnerable sectors of 
society. 
SEC. 3. Definition of Terms. – As used in this Act: 
 
a) 
Financial literacy refers to a person’s ability to understand and effectively 
use various financial skills including personal finance, savings and investment in order 
to make informed decisions and improve one’s personal financial situation. It is the 
ability to use knowledge and skills to manage one’s financial resources effectively for 
lifetime financial security.1 
b) 
Financial literacy activities refer to different activities which a 
government agency may conduct in order to fulfill the objectives of this Act including 
seminars, trainings, workshops; 
 
 
 
 
 
 
1 Mandell, Lewis The Financial Literacy of Young American Adults. Results of the 2008 National Jump$tart Coalition 
Survey of High School Seniors and College Students. Jumpstart Coalition; Washington D.C.: 2009 


c) 
Financial literacy plan refers to the plans and activities of the financial 
literacy program of each concerned agency made in pursuant of this Act; 
d) 
Livelihood program refers to the initiative of a government agency, 
including government-owned and-controlled corporations (GOCCs) and local 
government units (LGUs), which are geared to combat poverty and made to improve 
or complement other social protection programs, with beneficiaries belonging to a 
certain sector or marginalized section of the population. This includes providing grant 
or cash assistance, financing, enterprise development, employment facilitations, 
awarding of seeding kits, and capacity development initiatives. 
SEC. 4. Financial Literacy in Livelihood Programs. – Financial literacy shall be 
integrated in all livelihood programs provided by government agencies, including 
GOCCs and LGUs. During the implementation of a livelihood program, the 
government agency shall conduct financial literacy activities which are tailored to fit 
the needs of the beneficiaries and in line with the intended outcomes of the program. 
There shall be continued mentoring of the beneficiaries for the duration of the 
livelihood program. The financial literacy program shall focus on the basic principles 
and their application. It shall have, among others, the following objectives: 
(a) 
Promote the culture of savings and investments; 
 
(b) 
Inspire the beneficiaries to achieve financial freedom; 
 
(c) 
Instill confidence to save in financial institutions; 


(d) 
Engage the beneficiaries in activities such as financial planning; 
 
(e) 
Prepare the beneficiaries to make well-informed financial decisions; and 
 
(f) 
Educate the beneficiaries about consumer protection and consumer rights. 
 
SEC. 5. Financial Literacy Inter-Agency Committee. – 
 
a) The Financial Literacy Inter-Agency Committee (FLIAC) is established and is 
composed of members from the following agencies: 
1) 
National Economic and Development Authority; 
 
2) 
Department of Finance; 
 
3) 
Department of Budget and Management; 
 
4) 
Department of Trade and Industry; 
 
5) 
Department of the Interior and Local Government; 
 
6) 
Department of Education; 
 
7) 
Bangko Sentral ng Pilipinas; and 
 
8) 
Land Bank of the Philippines. 
 
The FLIAC shall be headed by the member from the National Economic and 
Development Authority. The duly authorized representatives of the member-agencies 
shall have a rank not lower than Assistant Secretary. 
b) 
The FLIAC shall have the following functions: 
 
1) 
Formulate the National Financial Literacy Plan and the guidelines for the 
implementation of the financial literacy activities; 


2) 
Develop and distribute the financial literacy materials to be used for the 
implementation of the financial literacy activities; 
3) 
Conduct the trainer’s training and capacity development of the 
representatives from the different government agencies who shall be conducting the 
financial literacy activities to their beneficiaries; 
4) 
Review the financial literacy plans and activities submitted by 
government agencies pursuant to this Act. 
SEC. 6. Development of Financial Literacy Learning Materials. – The Bangko 
Sentral ng Pilipinas and Land Bank of the Philippines shall spearhead the FLIAC in 
developing the modules and learning materials mentioned in Section 5(b)(2). 
The financial literacy modules and materials shall be distributed to all 
government agencies implementing livelihood programs, and to all local government 
units through the Department of the Interior and Local Government. 
SEC. 7. Capacity Development for Agencies with Livelihood Programs. – The 
FLIAC shall conduct the training of trainers upon completion of the financial literacy 
modules and learning materials development by FLIAC. The trainer’s training shall 
include the study of the financial literacy principles, facilitation, and mentoring skills 
in order to increase the capacity of the trainers to lead and implement the financial 
literacy activities to be implemented by their respective agencies. 


SEC. 8. Financial Literacy Committee. – Upon publication and dissemination of 
the implementing rules and regulations of this Act and subsequent to the training of 
trainers, the heads of government agencies providing livelihood programs shall 
constitute a financial literacy committee of their respective agencies. 
The financial literacy committee shall have the following functions: 
 
a) 
Attend the trainer’s training mentioned in Section 5(b)(3), and thereafter 
conduct the financial literacy seminar, training and workshop and act as trainers of the 
beneficiaries of their agency’s livelihood programs; 
b) 
Prepare the financial literacy plan of the agency containing the activities 
to be implemented in line with their respective livelihood programs. The plan shall be 
approved by the head of the agency to be reviewed by the FLIAC; 
c) 
Ensure that the financial literacy materials mentioned in Section 5 are 
customized to meet the needs of the beneficiaries of their livelihood programs. The 
materials shall be translated to the local dialect and present them in such a way that the 
concepts and application are easily understandable to their beneficiaries. The financial 
literacy materials may include diagrams, flow charts, comic strips and other visual aids; 
d) 
Monitor and mentor beneficiaries continuously in line with the principles 
of financial literacy; and 
e) 
Implement the agency’s financial literacy plan, and execute the approved 
activities in pursuant to the objective of this Act. 


Local government units which are not providing livelihood programs may 
request the Department of the Interior and Local Government to conduct and facilitate 
the financial literacy activities. For this purpose, personnel of the Department of the 
Interior and Local Government who shall facilitate the financial literacy activities to 
local government units may avail of the trainer’s training conducted by the FLIAC. 
SEC. 9. Financial Literacy Information Desk. – All government agencies 
providing livelihood programs shall establish an information desk where the 
beneficiaries may continually make inquiries about financial literacy and their financial 
matters. 
SEC. 10. Appropriations. – The amount necessary for the implementation of this 
Act shall be charged against the current year’s appropriations of the government 
agency implementing a livelihood program. At least ten percent (10%) of the agency’s 
appropriation for administrative cost of the livelihood program shall be spent for the 
implementation of the financial literacy program. 
SEC. 11. Financial Literacy Plan. – All government agencies who provide 
livelihood programs, including GOCCs and LGUs, shall submit their respective 
financial literacy plans to the FLIAC for its review. They shall also submit annual 
reports to Congress, Department of Budget and Management and the FLIAC, 
indicating the accomplishments and the amounts utilized to implement the financial 


literacy activities. The evaluation of the agencies’ utilization of the financial literacy 
plan budget shall be performance-based. 
SEC. 12. Implementing Rules and Regulations. – Within ninety (90) days from 
the effectivity of this Act, the FLIAC, shall promulgate the necessary rules and 
regulations for the implementation of this Act. 
SEC. 13. Effectivity. – This Act shall take effect fifteen (15) days after its 
publication in the Official Gazette or in a newspaper of general circulation. 
Approved,