Financial literacy partnership takes off

THE Financial Executives Institute of the Philippines (Finex) has forged an alliance with the ALC Group of Companies for the promotion of financial literacy and inclusion. Citystate Savings Bank (Csbank), a Philippine Stock Exchange-listed company and member of the ALC Group, signed a memorandum of agreement with Finex last month to jumpstart the joint advocacy project. 2022 Finex President Michael Arcatomy H. Guarin and Csbank Executive Vice President Jaime Valentin L. Araneta were the signatories for the two organizations.

Philippine Business Mirror Publishing Inc., a subsidiary of the ALC Group, is a long-time media partner of Finex, which has also linked up with another ALC affiliate, CNN Philippines. During its 25th anniversary in August 2022, Csbank signified its intention to expand this partnership with Finex through its three other affiliated media outlets, namely: Pilipino Mirror; DWIZ-AM; and, IZTV.

Last December 28, 2022, Csbank and Finex launched “Perapera,” a weekly newspaper column published in the print and online editions of Pilipino Mirror, the country’s pioneer business tabloid targeting the CDE market. Finex writers Rey Lugtu, Edith Dychiao, Gay Santos and Tonyboy Ongsiako are taking turns in writing this vernacular column about such topics as saving money and how to invest in the capital markets.

Next to be rolled out will be a radio segment on DWIZ-AM station and a broadcast program on IZTV network. Content for these two shows shall be provided by resource persons from Finex who are going to discuss basic issues on personal finance and financial inclusion for the masses. This joint project is being spearheaded by the Finex Media Affairs Committee and Csbank’s Integrated Marketing Communications Unit.

Face-to-face Finex induction

FOR the first time in three years, Finex held an in-person induction ceremony last January 23 at the ballroom of New World Hotel in Makati City. This year’s theme is “Forging Ahead: Accelerating Inclusive and Sustainable Growth.”

2023 Finex President Wilson P. Tan, chairman and managing partner of SGV & Co., was sworn in together with the board members and committee officers of the Finex Institute, Finex Foundation and Finex Academy. Trade and Industry Secretary Alfredo E. Pascual, who is also a Finex member, served as the keynote speaker and inducting officer.

In his inaugural address, Tan said: “It’s important for leaders to leave behind the pandemic mindset of caution and risk aversion. Leaders should adopt a bold mindset of optimism and growth. Companies must place a greater focus on sustaining growth while continuing to prioritize inclusiveness and the wellness of its people.” He committed to continue the work done in the past two years and hopes to sustain the transition from recovery to growth.

Pascual emphasized the role of innovation and the new technologies it entails in the creation of new goods and services in the market— resulting in the emergence of new industries and the expansion of productive capacities, which in turn, create more quality jobs.

The chief of the Department of Trade and Industry (DTI) disclosed that to achieve inclusive and sustainable growth that raises the quality of life for all Filipinos, the DTI will build a dynamic industry ecosystem on six strategic actions: embracing the Fourth Industrial Revolution; developing entrepreneurial startups and innovative MSMES; integrating trade, investment promotion and industry development activities; developing human capital and workforce capacity-building programs; promoting regional industrialization; and fostering an enabling economic environment to attract more investments.

Four industrial clusters are seen as sources of growth for the Philippines: industrial manufacturing and transport; technology, media and telecommunications; health and life sciences; modern basic needs of a resilient economy.

“We invite our partners in Finex to work with us in pushing the country in that direction,” Pascual concluded.

Joseph Gamboa is the vice chairman of the Finex Ethics Committee and director of Noble Asia Industrial Corp. The views expressed herein do not necessarily reflect the opinion of these institutions and the Businessmirror. For more information, visit www.finex.org.ph.