BDO Unibank was honored for its corporate citizenship programs for the fourth straight year through the Singapore-based financial journal Asian Banking & Finance. In order to help develop financial literacy in the Philippines, BDO’s corporate social responsibility arm BDO Foundation has been granted an award for its financial inclusion efforts.
BDO Foundation bags Asian Banking & Finance honors in four successive years
The foundation was presented with the “Financial Inclusion Initiative of the Year” Award for its financial education program for Overseas Filipino Workers, a partnership project with the Overseas Workers’ Welfare Administration (OWWA), and Bangko Sentral ng Pilipinas (BSP).
The BDO Foundation was given the citation “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,” according to Asian Banking & Finance. The BDO Foundation President, Mario Deriquito, accepted the award at a virtual presentation of Retail Banking Awards 2020 organized by Asian Banking & Finance.
When asked by the award-giving body about the inspiration for and the achievements of the program, 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, which 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.”
“The award is a testament to our 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 among migrant workers and recipients of remittances,” he added.
Through its ongoing initiative, the BDO Foundation contributes to the ability of OWWA in promoting the implementation of BSP’s National Strategy for Financial Inclusion for migrant workers and their families to provide financial literacy. Approximately 2.3 million OFWs and some 10.2 million migrant workers are projected to benefit from the award-winning initiatives in the long run.
The Financial Inclusion Initiative of the Year Award is the latest accolade of awards received by the BDO Foundation from the Retail Banking Awards. The CSR Program of the Year Gold Award was presented to the foundation for its financial education program for public schools last year.
In previous years, the BDO Foundation was cited for constructing resettlement homes for people with disabilities displaced by Typhoon Yolanda, and successfully rehabilitating rural health units in disaster-stricken and economically deprived communities across the country.
Currently, in its 15th year, the Retail Banking Awards recognizes the outstanding products and services of banks and financial institutions in the Asia-Pacific region.
For more information, please visit www.bdo.com.ph.