PUERTO PRINCESA CITY, Palawan (PIA) — The Bangko Sentral ng Pilipinas (BSP) is urging coin recirculation by encouraging elementary students in Puerto Princesa to start depositing coins in banks and promoting them as the new “piggy banks.”
BSP Puerto Princesa Branch Manager Evelyn Tanagon said that saving may create a lasting impact on students through developing practical saving habits. The practice of saving will also help them familiarize themselves with coin denominations and recognize their value in the economy.
In collaboration with the Schools Division of Puerto Princesa and Palaweño Bankers Association, the BSP agreed on intensifying financial literacy among young learners.
The program dubbed “Barya Man sa Paningin, Malayo ang Mararating” aims to advocate financial education, financial inclusion, and coin recirculation.
“This program aims to instill financial discipline and awareness among the elementary pupils— together, we are planting seeds of wisdom and financial empowerment that will undoubtedly yield a brighter and more secure future for our children,” Tanagon said.
Assistant Schools Division Superintendent Laida Lagar-Mascareñas committed to monitoring the compliance of city schools with the program’s implementation among students.
Aside from ensuring the success of the program, Mascareñas wants learners to appreciate the value of coins at a young age.
“But the most important one is how are we going to help our learners appreciate the value of money, even the smallest value of a coin,” she said.
As of October 31, about 41,585,748,175 coins in any denominations are in circulation, according to BSP.
BSP Regional Director Tomas Cariño, Jr. emphasized the importance of coins in daily instructions and the possibility of having an artificial shortage when they are not circulated.
“This will not only teach practical financial skills but also encourage a sense of responsibility toward our economy,” Cariño said.
Meanwhile, Bankers Association’s president Moises Arzaga, Jr. expressed their willingness to help learners be part of the backbone of the economy through their savings. (RG/PIA MIMAROPA-Palawan)
