PGIN, BSP ink MOU to boost financial literacy via KNR

By Ma. Christian A. Ramos, PGIN-CMO

The Bangko Sentral ng Pilipinas (BSP) and the Provincial Government of Ilocos Norte (PGIN) entered a memorandum of understanding (MOU) for the installation of a Knowledge Resource Network (KNR) at the Provincial Library, also known as the i-Hub.

The KNR offers information materials ranging from printed books, BSP annual reports, guides and brochures in banking to online research assistance through free access to the BSP website.

Signatories in the MOU were Senior Provincial Board Member Matthew Joseph Marcos Manotoc and Dr. Buenafe F. Alinio, deputy director of BSP-Batac City.

Alinio shared that the KNR originated in their Batac branch and triggered the nationwide formalization of BSP resource networks, adding that the KNR corner at the i-Hub is among the first in the country.

“This is a part of the Bangko Sentral ng Pilipinas’ project of bringing our resources closer to its stakeholders.

“We have an economic learning center in our Batac [City] branch which has several books and reading materials but is seldom visited by students.

With the KNR at i-hub, students from Laoag City wouldn’t travel to Batac anymore to just come and browse our database.

“Student, academicians, and the public who need information about the BSP are now welcome to visit the corner here in the Provincial Library,” said Alinio who is grateful for the cooperation of PGIN and citing the assistance provided by Provincial Librarian Ms. Matilde M. Nery, who assured that the KNR is now more accessible to the public.

SPBM Manotoc also said that the MOU for the KNR is “one step forward for the province’s financial literacy,” hoping that the youth along with researchers and economic or finance professionals would explore the resources available at the KNR.

“Siguro po ang next step ay sa Provincial Government na, kailangang gamitin ‘to, ‘wag lang sanang mag-collect ng alikabok,” he added, saying that PGIN is eyeing a partnership with the Department of Education for students to make use of the documents provided by the BSP.

Nery likewise assured that the i-Hub is committed to promote the availability of the resources.

With 60% of Overseas Filipino Workers (OFWs) coming from Ilocos Norte, the province receives a high number of remittances from abroad. However, there is lack of awareness regarding how to maximize their hard earned money such as through personal equity accounts, investments, and time deposits.

The KNR provides resources on these subjects, and thus is set to intensify financial literacy among Ilocanos as the province sustains rapid economic growth driven primarily by rural development and booming tourism. – (Ma. Christian A. Ramos, PGIN-CMO)