01 August 2020, Dubai, UAE—The Philippine Consulate General in Dubai and Northern Emirates organized a webinar on financial literacy for Filipinos based in Dubai and the Northern Emirates on 31 July 2020. The webinar, part of the Consulate’s Parola Series, focused on various investments instruments available to overseas Filipinos.
The webinar took off from the discussions in the previous webinar on 24 July 2020 which dealt with issues such as the importance of financial planning, basic do’s and don’ts in investing, how to effectively combine active and passive income, and investor protection.
The webinar sought to shed a light on insurance which is a misunderstood topic, and highlighted the importance of securing proper insurance coverage against potential risks associated with their lives, health, businesses, and properties.
Ms. Susan Francisco, a seasoned financial adviser in Dubai, discussed in detail the various types of insurance to allow participants to assess and decide the insurance coverage that is most appropriate for their needs.
Ms. Charry dela Cruz, a Dubai-based and PH-certified financial planner, meanwhile, briefed participants on investing in money and capital markets. She talked about various financial instruments such as shares, bonds, mutual funds that are available for overseas Filipinos. In choosing the best investment option, Ms. Dela Cruz advised would-be investors to consider their goals, personality, risk tolerance and saving capacity.
PAG-IBIG and SSS representatives in Dubai, Ms. Lowella Recto and Mr. Mark Roue Oliva, were likewise in hand to inform participants on the investments opportunities being offered by the two agencies. They noted that PAG-IBIG and SSS investment portfolios are low-risk, more stable, and affordable, this ideal for beginners in investing.
Consul General Paul Raymund Cortes, who gave the closing remarks to the webinar, thanked the participants for their active participation in the discussions as shown by the number of interesting questions raised by the audience. ConGen Cortes shared his hope that participants will see and use wealth as means towards spiritual development. With financial stability, he hopes to see the participants to have more time to spend with their family and have the opportunity to give love, hope and inspiration to others.
The Consulate General has been conducting its financial literacy program since 2017 to promote personal financial management among the members of the Filipino community. In efforts to come up with a program that is appropriate to the needs and requirements of Filipinos in Dubai and Northern Emirates, the Consulate General taps Filipino practitioners in the banking and insurance sectors, investment management companies, real estate firms, and professional organizations to develop training modules aimed at building the capacity of participants on various financial issues to allow them to make informed, sound, and effective financial decisions.
The seminars that the Consulate conducts yearly, free of charge, cover a wide range of topics from savings and budgeting, debt management, investment and insurance, to entrepreneurship and re-integration. END
