Manulife Philippines has partnered with volunteer organization Hands On Manila, (HOM) to launch a financial-literacy program for public school students dubbed as “Peso Smart.”
According to Manulife, its own employees will serve as the mentors of the Peso Smart program that will run from school year 2017-2018. It will be piloted in schools located in Nueve de Febrero, Pembo, and Plainview in Manila.
“Manulife sets out to help people achieve their dreams and aspirations. Teaching children the importance of saving and investing at a young age can help them make the right financial decision as they get older. Having these financial skills at a young age will help them achieve these goals—not just for themselves but also for their families,” Manulife Philippines President and CEO Ryan Charland said.
In a 2014 study by Standard & Poor’s, findings indicate that only 25 percent Filipinos are financially literate, with the Philippines belonging to the bottom 30 percent in the world when it comes to financial literacy.
“We recognize that there is much opportunity to increase financial inclusion in the country, and we believe that the first step is to gain financial literacy. As a financial institution that has been in the Philippines for 110 years, we know that we have a role to play in this. Peso Smart allows us to do our part in furthering financial literacy, especially among Filipino youth,” he added.
