amando m tetangco, jr : nurturing financially literate filipinos speech by mr amando m tetangco, jr, governor of the central bank of the philippines ( bangko sentral ng pilipinas ), at the moa signing on the “ deped - bsp - epra financial literacy project, manila, 12 april 2007. * * * secretary jesli lapus, dr. cielito habito, our partners from the department of education and epra, special guests from the bankers association of the philippines and the chamber of thrift banks, fellow central bankers. magandang umaga po sa inyong lahat! on behalf of the members of the monetary board, i thank our partners at the department of education and epra for sharing our goal to teach money management to our elementary students and to transform them into net savers. specifically, our program involves the incorporation into the elementary curriculum lessons in saving and money management, as well as the values of pagka - masinop ( prudence / avoiding waste ), pagkamatipid ( thrift ), and pag - iimpok ( saving ). a survey indicating that less than 5 % of our youth regularly save money lends urgency to our program. if we can turn the tide with our present crop of elementary pupils, this will have long - term benefits for them and, ultimately, our country. add to this the potential influence they can wield in their homes and in their communities as change agents. actually, there are other initiatives that are underway under our economic and financial literacy program. in particular, the bangko sentral is at the forefront of a money management program for ofws and their families ; microfinance for the entrepreneurial poor ; continuing economic and financial education for journalists ; and consumer protection for bank customers. we are also set to establish economic and financial literacy centers in bsp offices in the province. of course nurturing a new generation of savers and financially literate adults entails a lot of work and unflagging commitment from all of us. for this, we need all the help we can get. this is the reason why we at the bangko sentral are very pleased that no less than the heads of our principal partners are here with us this morning. ladies and gentlemen, let us give a big hand to the honorable secretary of education jesli lapus who is known for his ability to transform

, as well as capacity building and awareness programs of the bsp, we are seeing banks lean toward sustainable financing. finally, e is for excellence. excellence requires mastery and commitment in all aspects of professional practice. the very same tenet requires us, central bankers, to master our craft and continually improve our competencies. in the bsp, we capitalize on programs to attract, develop, and retain talent. we have relentlessly pursued excellence through competency trainings, scholarship programs, and mentoring arrangements. we also leverage on digital technologies and data analytics for decision making and continuing education of our employees. in the same way, the bsp endeavors to embed a culture of excellence and good governance among supervised financial institutions. cpas are a big part of this. cpas play an important role in promoting transparency in financial reporting and in reinforcing market discipline. thus, it is paramount to know the best practices in accounting and auditing, and the latest regulatory developments. 3 / 4 bis central bankers'speeches you must be abreast of the latest on philippine financial reporting standards, basel reforms, digital transformation, and sustainability, among other important topics. last july, members of the financial sector forum ( fsf ) — comprised of the bsp, the securities and exchange commission, the insurance commission, and the philippine deposit insurance corporation — entered into a memorandum of agreement with the professional regulatory board of accountancy on the establishment of a “ one - stop - shop ” framework for accreditation of external auditors. this goes to show how regulators value your role in the economy, and we expect all of you in picpa to be our partners in the pursuit of economic recovery and growth by consistently observing the highest level of professionalism. as cpas in your respective industries, being flexible in your action plans to surmount the current headwinds and work toward an inclusive, long - term growth will help you and your organization take full advantage of the possibilities awaiting at the close of this health crisis. rest assured, the bsp will always be a partner in pursuing advocacies that promote the development of the accountancy profession. we count on picpa and its members in helping safeguard the soundness of financial institutions and the financial system. again, congratulations on your 76th annual national convention and i wish everyone a productive discussion ahead. 4 / 4 bis central bankers'speeches