Financial Inclusion

Manila Bulletin, January 25, 2016 | Go to article overview

Financial Inclusion


The Financial Executives Institute of the Philippines (FINEX) which is on its 48th year is the prem-ier professional organization for finance practitioners with a membership base of more than 800 distinguished executives. It is quite an honor for me to have been elected as the President for 2016 but I observed that while the Philippines continues to enjoy high growth rates and improving credit ratings, it would seem that many common Filipinos do not benefit from this.

Therefore, we have decided that our FINEX theme for 2016 should be "Supporting Financial Inclu-sion for All Filipinos," so that we may be able to contribute to the alleviation of this problem. Financial Inclusion means that people must have jobs commensurate with their education and experience. It also means that Filipinos must be financially literate and understand the basic concepts of the banking system, know how to budget and manage their earnings and expenses as well as their savings and investments. The basic understanding of financial concepts is key to the prevention of the various pyramiding scams and other fraudulent activities that have deprived countless Filipinos of their hard earned money and even their life savings or nest egg.

As financial professionals and executives, we must do our jobs well so that our own companies can continue to generate profits for its shareholders, pay taxes to the government and provide employment for its workers. FINEX provides its members with numerous opportunities to update their knowledge through the many seminars and conferences offered throughout the year. …

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