The Piso Caravan is a nationwide initiative supporting the Clean Note and Coin Policy and Coin Recirculation Programme.Sponsored By:
February 11, 202504 Mins ReadLinkedInFacebookTwitterTelegramCopy LinkEmail
The Bangko Sentral ng Pilipinas (BSP) and the Palawan Group of Companies (PGC) have partnered to promote financial literacy and responsible currency handling through the BSP Piso Caravan.
A formal agreement was signed at the BSP headquarters, with key officials from both organisations in attendance.
The Piso Caravan is a nationwide initiative supporting the Clean Note and Coin Policy and Coin Recirculation Programme.
It aims to expedite the withdrawal of unfit and mutilated banknotes and coins from circulation.
The initiative will also educate the public on proper handling and care of Philippine currency, promote financial literacy and responsible money management, encourage the recirculation of idle coins, and instill behavioral change in how currency is valued.
PGC, a long-time advocate for financial education and economic empowerment, sees this partnership as a significant step in expanding access to financial literacy and resources.
With its extensive network of over 70,000 branches, Pera Padala outlets, and PalawanPay Money Shops across the country, PGC is well-positioned to reach communities nationwide, connecting urban centers with rural and remote areas.
Through this reach, PGC also plays a role in facilitating access to government financial programmes and initiatives.
This collaboration will enhance financial services accessibility, improve currency circulation, and boost financial education.
Karlo Eugene Josef M. Castro, President and CEO of PGC
Karlo Eugene Josef M. Castro, President and CEO of PGC, said,
“PGC is fully committing to support the BSP Piso Caravan to encourage the public to preserve the integrity of Philippine currency, which will expand financial inclusion in the country. We assure you of the Palawan Group of Companies’ support.
Our team is grateful for the privilege of taking part in this initiative which strongly aligns with our mission to provide accessible and reliable financial services to Filipinos across the nation. Through Palawan Pawnshop, Palawan Express Pera Padala, and PalawanPay, we continue to advocate for financial empowerment, responsible money management, and economic participation for every Filipino.”
Bobby Castro, Founder and Chairman of Palawan Group of Companies
Chairman Bobby L. Castro reiterated PGC’s commitment to the initiative,
“When we started as Palawan Pawnshop nearly forty years ago, our goal was to be a reliable financial partner, especially for those in need.
The BSP Piso Caravan reminds us all that every peso counts and can contribute to personal and national economic growth.”
Bernadette Romulo-Puyat, Deputy BSP Governor
BSP Deputy Governor Bernadette Romulo-Puyat added,
“By working with currency exchange centers like yours, we are ensuring that clean and fit bank notes, as well as coins, continue to circulate smoothly. This helps improve everyday transactions and keeps our currency in good condition for businesses and individuals alike.
With over 7,964 locations nationwide, you have built the largest domestic money remittance network in the country. This wide reach makes transactions easier and more convenient for millions of Filipinos.”
The Palawan Group of Companies, supervised by the Bangko Sentral ng Pilipinas, offers a wide range of financial services, including pawning, remittances, microinsurance, bills payment, and e-wallet services through PalawanPay.
Present during the signing were PGC executives: Bobby L. Castro, Founder and Chairman; Angelita M.
Castro, Co-Founder and Deputy Chairman of the Board; Karlo Eugene Josef M. Castro, President and
CEO; Roberto Ben M. Castro, Chief Operations Officer; Lillian Concepcion Castro-Selda, Executive Vice
President and Chief Financial Officer; Korina Gabriela Angela Castro-Fernando, Chief Human Resources
Officer; Lisa Lou Castro-Sabado, Chief Business Development Officer; and Third Librea, President and
CEO of PalawanPay, along with officials from the Bangko Sentral ng Pilipinas (BSP), including Rosabel
B. Guerrero, Assistant Governor; Bernadette Romulo-Puyat, Deputy Governor; Tomas J. Cariño, Jr.,
Regional Director; and Ronaldo O. Bermudez, Area Director.