BSP partners with DICT for digitalization initiatives

THE BANGKO SENTRAL ng Pilipinas (BSP) has signed a memorandum of agreement with the Department of Information and Communications Technology (DICT) to provide infrastructure support for the regulator’s digitalization initiatives.

BSP Deputy Governor Bernadette Romulo-Puyat and DICT Secretary Henry Rhoel R. Aguda led the signing of the agreement during the Financial Education Stakeholders’ Congress on Nov. 18 at the BSP Head Office in Manila.

The DICT will provide digital infrastructure support to Paleng-QR Ph Plus and BSP E-Learning Academy (BELA), two of the central bank’s flagship initiatives.

Paleng-QR Ph, first introduced by the BSP and the Department of the Interior and Local Government in 2022, expands electronic payments using quick response or QR codes in public markets, local transport, and small businesses. The program is part of the National Strategy for Financial Inclusion for 2022 to 2028.

Meanwhile, BELA is an online platform launched in August last year that provides e-learning courses on personal finance, economics, and central banking.

During the congress, the Credit Card Association of the Philippines launched its “Credit Card Essentials E-Learning Module,” while the central bank introduced the enhanced “Protect Your Money” campaign as part of its financial education initiatives, also partnering with various government agencies and the private sector. — Katherine K. Chan