BSP reaching out to lessen victims of counterfeit bills PDF Print E-mail
Saturday, 15 March 2014 11:49

Bangko Sentral ng Pilipinas (BSP) Zamboanga Branch has catered to 5,939 individuals within Region 9 in its Public Information Campaign in 2013.

The campaign is an advocacy of the BSP to ensure awareness among Filipinos regarding counterfeit detection, clean note policy, coin recirculation, central banking 101 and many others.

Most groups were composed of students. Banks, business establishments, various government agencies and other institutions were also accommodated. Security features of the Philippine currency were discussed. This was most helpful to businesspersons, cashiers, and sales personnel since they are more exposed to counterfeit notes.

The BSP-Zamboanga Branch aims to increase the number of Public Information Campaigns for 2014. This is to heighten the awareness of the public regarding the Philippine Currency and the Roles of BSP.

At a glance, the Public Information Campaign is an advocacy of BSP to inform the public regarding the Clean Note Policy, Coin Recirculation, Security Features of the Philippine Currency, the Roles of Bangko Sentral, etc.. The Clean Note Policy is a mandate of BSP to preserve and maintain the integrity of the currency. Thus, the public will be penalized for any violation against the laws enacted for this cause. An expeditious disposal of unfit and mutilated notes is encouraged.    The Coin Recirculation Program is another advocacy of BSP to encourage the public to use the coins they usually hide in their drawers, piggy banks, and other places. Low denomination coins are short in circulation when in fact, BSP produces around 200 coins per Filipino. Thus, this program is extensively advocated. The workshop on the Security Features of the Philippine Currency hopes to prevent the public from being victimized by counterfeit notes. The first and second level designs will be explained in detail for the benefit of the audience.

The BSP Zamboanga Branch is also open for tour or visit in BSP Zamboanga Building. The Branch has a numismatic display of old currencies which will describe the history of the country’smoney way back to the Spanish era. In addition, the Branch also has a specialized library with collections of books such as Economics, Finance, Management, Banking, Accounting and exclusive collections of BSP-published reports and periodicals. For more information, please contact us at telephone number 991-2864. – BSP Zamboanga