Global Money Week 2024 Ends with an Asia-Wide Multisectoral Forum

The Global Money Week (GMW) 2024 celebration culminated in a one-day stakeholders’ forum on March 22, 2024, held at VISA office in Pasay City, with panelists coming from various sectors -youth, cooperatives, government, and private sectors, NGOs, financial industry, and ASEAN delegates. Around 100 guests from around the world joined the forum via Zoom platform.

The forum was organized and facilitated by the National Confederation of Cooperatives (NATCCO) in collaboration with the Aflatoun International, CDA and Visa,  in observance of the weeklong celebration of Global Money Week.

The panelists agreed on a common ground: financial education among children and young people is essential for them to make an informed and sound financial decision to help them secure a bright future.

CDA Chairman Undersecretary Joseph B. Encabo in his message of support said that “the youth as the hope of our nation needs to act for a better future”, adding that the youth should be deliberate with their saving to achieve financial security.

Board Director Atty. Soledad Cabangis of NATCCO said that Aflatoun International wants to leave a legacy for the young generation through a better financial future by building trust and confidence through its advocacy.

Ms. Patsian Low, Vice President, Inclusive Impact and Sustainability (Asia Pacific), Visa Worldwide Pte Limited, said that Visa strongly supports financial literacy and has reached out to more than 100 countries to educate young people across the globe on financial management and practical money skills. She likewise presented statistics on the users of various financial digital platforms which are largely being adopted by a majority of the youth population worldwide.

Other notable organizations that comprised the panelists were representatives from the Bangko Sentral ng Pilipinas (BSP), Tagum Cooperative, Most Holy Rosary Multipurpose Cooperative, NATCCO youth representatives from different primaries, Visa, Banco de Oro Foundation, and various non-profit organizations from Cambodia, Lao, Malaysia, and Indonesia.

CDA officials present in the forum as guests were Assistant Secretary Luz H. Yringco, Head of Finance Cooperatives Cluster, Deputy Administrator Atty. Ma. Lourdes P. Pacao, Credit Surety Fund (CSF) Service, Acting CSF Service Director Joselito O. Hallazgo and selected employees.

Panel discussions centered on the challenges encountered in the promotion of youth financial literacy, stakeholders’ various initiatives to integrate financial education into the school curriculum, and innovative ideas shared by youths in mainstreaming financial literacy among children and young ones.

Aflatoun International is a non-governmental organization focusing on educating children about their rights and responsibilities and managing financial resources through social and financial education. NATCCO has long been implementing the Aflatoun program, making the Philippines one of the pioneering countries in the network.

The Global Money Week is an annual global awareness-raising campaign on the importance of ensuring that young people are financially aware, and gradually acquiring the knowledge, skills, attitudes, and behaviors necessary to make sound financial decisions for their financial well-being and resilience.