Legislative History
House Bill/Resolution NO. HB04793 |
FULL TITLE : AN ACT ESTABLISHING THE NATIONAL FINANCIAL LITERACY COUNCIL AND APPROPRIATING FUNDS THEREFOR |
ABSTRACT : Intends to address Filipinos' lack of financial literacy or capability in managing their day-to-day finances, as well as their access to formal financial institutions (banks, insurance and investment companies) that would aid them to acquire specific knowledge to make informed financial decisions.Seeks to instill financial literacy in young Filipino by incorporating its modules to the basic education system which shall include budgeting, financial basics such as the effect of compound interest in debt, savings, and investments, and time value of money. Aims to: integrate financial literacy in the implementation of poverty alleviation; promote financial literacy in all government and private workplaces; and disseminate financial education materials through various media platforms. |
PRINCIPAL AUTHOR/S : BOLILIA, LIANDA B. |
DATE FILED : 2019-09-23 |
SIGNIFICANCE: NATIONAL |
CO-AUTHORS (Journal Entries) : |
1. Salvador-Tambunting (000 2019-12-02) |
ACTIONS TAKEN BY THE COMMITTEE |
MOTHER BILL: HB07701 |
ACTIONS TAKEN BY THE COMMITTEE ON RULES |
REFERRAL TO THE COMMITTEE ON POVERTY ALLEVIATION ON 2019-09-25 |
Abstract
Intends to address Filipinos' lack of financial literacy or capability in managing their day-to-day finances, as well as their access to formal financial institutions (banks, insurance and investment companies) that would aid them to acquire specific knowledge to make informed financial decisions.Seeks to instill financial literacy in young Filipino by incorporating its modules to the basic education system which shall include budgeting, financial basics such as the effect of compound interest in debt, savings, and investments, and time value of money. Aims to: integrate financial literacy in the implementation of poverty alleviation; promote financial literacy in all government and private workplaces; and disseminate financial education materials through various media platforms.
Disclaimer
Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.