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NEDA urges Filipinos to embrace financial digitalization amid pandemic

 

NEDA 7 Regional Director Efren B. Carreon delivers his speech during the opening of the 2021 "Economic and Financial Literacy Week" held via zoom on Monday, Nov. 8, 2021. (Screenshot from Zoom)

CEBU CITY, Cebu, Nov.8 (PIA) - The National Economic Development Authority Central Visayas (NEDA-7) encouraged the public to engage and utilize the advantage of digital transactions and other online financial services in the middle of the pandemic on Monday during the opening of the 2021 Economic and Financial Literacy (EFLC) Week.

The NEDA-7 in collaboration with the Bankgo Sentral ng Pilipinas (BSP) promoted the relevance of financial technology in this current situation and urged everyone to embrace financial technology in bringing more Filipinos into the financial loop by using digital payment methods and other online payment transactions.

Through digital transformation in the financial sector, NEDA aspires to help Filipinos in having strong family and community ties ("Matatag"), comfortable lifestyle ("Maginhawa"), and secured future ("Panatag"). As it also aims to enhance the knowledge of the public in economic and financial concepts and provide insights and tools that will enable Filipinos to create informed and sound financial decisions.

The NEDA will also hold a series of webinars that seek to provide the public the much needed support and information in financial digitalization in order to prepare for the uncertainties of life in the new normal.

NEDA-7 Regional Director Efren Carreon, in his message, introduced the theme, "A Glimpse into AmbisyoNatin 2040 What to expect in the New Normal", and stressed the changes and opportunities in the financial world during the Covid-19 pandemic.

"The pandemic gave us an opportunity to recalibrate our plans and strategies to achieve our collective vision and this is well embodied in the Central Visayas Regional recovery plan. The pandemic has accelerated progress in other areas notably in the digitalization  of financial services, many Filipinos have shifted their financial transactions online but more work needs to be done to include more Filipinos in the digital sphere," Carreon said.

"Our celebration is timely because it highlights the ongoing transformation in financial technology," he added.

Meanwhile, BSP Visayas Deputy Director Atty. Bridget Rose Mesina-Romera talked about the benefits of digital payments, digital payments and financial inclusion landscapes, and the National Payment System Development.

Mesina-Romera also discussed the BSP Digital Payment Transformation Roadmap and provided some tips on how to secure the online financial transactions.

"Ang broad-based vision ng BSP ay magkaroon ng matatag at maginhawang pamumuhay ang mga Pilipino sa pamamagitan ng paggamit ng digital payment at other online financial services sa tama at responsableng pamamaraan," said Mesina-Romero.

The launching of the 2021 Economic and  Financial Literacy Week done virtually was attended by various officials from different government agencies, government workers, private sectors, representatives from the academe, and other stakeholders.

The Republic Act. No. 10922 mandates the annual celebration of the "Economic and Financial Literacy Week" scheduled every second week of the month of November with the aim to develop a national consciousness on economic and financial literacy. (RGC/PIA7)

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