March 25, 2009

BSP- SM Partnership Boosts Coin Recirculation & Support for Public Schools

SM Prime Holdings Inc., the largest shopping mall operator in the Philippines, is one of the partners of the Bangko Sentral ng Pilipinas in promoting the regular use of coins and the “Tulong Barya Para sa Eskwela,” the joint BSP-DepEd coin collection campaign for the benefit of public elementary schools.

At SM’s Mall of Asia, the program was launched by (from left) SM Supermalls President Annie Garcia, SM Prime Holdings SVP for Retail Operations Jorge Mendiola, Monetary Board Member Juanita Amatong, and BSP Corporate Affairs Director Fe de la Cruz. The Bangko Sentral has issued roughly 14 billion pieces of coins worth P14 billion. However, the habit of many consumers to leave coins in their homes and offices have reduced the number of coins in circulation. By supporting “Tulong Barya,” coins are recirculated, stores are able to provide exact change to consumers, and funds are raised for public elementary schools. “Tulong Barya” coin cans are at cashier counters of SM Department Stores.- BSP

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