The Philippine Deposit Insurance Corporation (PDIC) said only 33% of Filipino adults save, while only two-thirds of them place their money in banks.
This is the reason, said Jose Villaret Jr., PDIC vice-president for Corporate Affairs Group, said the agency, which is tasked to campaign for financial literacy, said it is implementing the Be a Wise Saver (BAWS) Campaign, an information drive that promotes wise saving and responsible banking.
“Financial literacy is something that even those with MBAs can even get wrong. That is why we hope more people will be encouraged on wise financial investments,” said Villaret in a forum yesterday at the city hall.
The campaign features the 7 Habits of a Wise Saver, a module of lessons that depositors of closed banks learned from their experiences and shared to other depositors.
Next month, the agency will pilot-test the Abot Lingkod Program campaign at Abreeza Mall.
Among the objectives is to launch the BAWS module to academic community, LGUs, professionals and financially vulnerable sectors.
“We will be here to talk about deposits, savings, and deposit insurance,” said Villaret.
“We will go around schools as well,” he added.
Apart from BAWS, PDIC will also have kiosk that will entertain queries on closed banks in the past. “Those who were depositors of closed banks in the past, if you have queries, you can meet us there,” Villaret said.
“It’s also a good opportunity for businessmen that we have properties for sale even outside in Davao,” he added.