BSP hosts 2016 Consumer Welfare Month

The Bangko Sentral ng Pilipinas (BSP) hosted the 2016 Consumer Welfare Month (CWM) which was formally opened at the BSP Assembly Hall, in BSP main office in Manila on Sept. 30, 2016.

The 2016 CWM celebration aims to promote consumer empowerment and cooperation among various stakeholders in ensuring that financial consumers are well-informed and protected.

With a theme, "Consumer Protection: A Shared Responsibility," the event will bring together key officials and representatives from the member agencies of the National Consumer Affairs Council (NCAC) of the Department of Trade and Industry, business, consumer and government sectors.

Officers from government institutions, financial regulators and consumer organizations will also conduct lecture sessions on topics such as regulation on consumer protection; roles and complaints reporting procedure; financial frauds, investment scams, and cybercrime; and tips on getting insurance and accepting checks as payment.

The CWM is held every October pursuant to Presidential Proclamation No. 1098. Said event is led by NCAC, a government body established under Republic Act 7394 otherwise known as the "Consumer Act of the Philippines," to improve the management, coordination and effectiveness of the nation's consumer programs.

A staunch consumer protection advocate, the BSP is the first non-NCAC member to host the CWM. This year also marks a milestone in the BSP's consumer protection and literacy initiatives as its Financial Consumer Protection Department celebrates its 10th anniversary on October 16.

Source: Philippine Information Agency

Related posts