BDO Foundation has been awarded by the Asian Banking & Finance, a publication based in Singapore, for 4 consecutive years now. The recognition is for their financial inclusion advocacy and efforts to help improve financial literacy levels in the Philippines.
Another Award for BDO Foundation
For the fourth consecutive year, BDO Unibank was recognized by Singapore-based finance publication Asian Banking & Finance for its corporate citizenship initiatives.
BDO’s corporate social responsibility arm received an award for its financial inclusion advocacy and efforts to improve financial literacy in the Philippines.
The foundation was conferred the Financial Inclusion Initiative of the Year Award. This is for the financial education program for overseas Filipino workers (OFWs), its partnership project with the Overseas Workers Welfare Administration (OWWA), and Bangko Sentral ng Pilipinas (BSP).
According to Asian Banking & Finance, “For showcasing a strong initiative to drive financial education among the country’s citizens both within and outside the country as well as supporting key government agencies in monitoring and evaluating the state of financial education programs in place, BDO Foundation is deservedly taking home the award.”
Virtual Awarding Ceremony
BDO Foundation president Mario Deriquito accepted the award at a virtual presentation of Retail Banking Awards 2020 organized by Asian Banking & Finance.
Deriquito underscored the significant contributions of migrant workers to the Philippine economy and the need to support OFWs through financial education.
“Leveraging our partnership with OWWA and BSP, we developed educational materials and modules. These are now being used in training programs for OFWs and their families,” Deriquito shared.
“Together, we trained close to 600 subject matter experts tasked to handle financial literacy sessions. Ultimately, we were able to institutionalize financial education in OWWA’s training initiatives.”
Deriquito also said that the award is a testament to their successful collaboration with OWWA and BSP. “It reaffirms our reputation as a staunch advocate of financial education. Embracing our role as a champion of financial inclusion, we will continue to promote financial responsibility,” he added.
Through the on-going program, BDO Foundation contributes to OWWA’s capacity to provide financial education for migrant workers and their families. This is in support of the BSP’s National Strategy for Financial Inclusion.
The award-winning initiative is expected to benefit an estimated 2.3 million OFWs in the short term. In the long term, about 10.2 million migrant workers will be covered by this program.
The Financial Inclusion Initiative of the Year Award is the latest accolade received by BDO Foundation from the Retail Banking Awards.
Last year, the foundation was given the CSR Program of the Year Gold Award for the financial education program for public schools.
In previous years, BDO Foundation was cited for constructing resettlement homes for persons with disabilities displaced by Typhoon Yolanda. Moreover, the group also successfully rehabilitated rural health units in poor, disaster-stricken communities.
The Retail Banking Awards
Now in its 15th year, Retail Banking Awards honors the outstanding products and services of banks and financial institutions in the Asia-Pacific region.
The award of BDO Foundation at the Asian Banking & Finance Retail Banking Awards 2020 is a Filipino pride.
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