Financial Information Month 2020

THE Bankers Association of Saint Lucia (BASL) continues its collaboration with the Eastern Caribbean Central Bank (ECCB) in hosting a series of activities as part of Financial Information Month (FIM) 2020.

Financial Information Month (FIM) is a regional financial, economic, business and entrepreneurial education campaign executed in the Eastern Caribbean Currency Union (ECCU), through the collaborative efforts of the Eastern Caribbean Central Bank (ECCB), ECCU member governments, financial and academic institutions, the media, other private and public sector institutions and community-based groups.

Financial Information Month (FIM) has been observed each year since 2002 during the month of October and incorporates a series of initiatives designed to support the attainment of the goal of “a financially developed and vibrant ECCU region that fosters strong and sustainable economic growth and the improved well-being of the citizenry.”

This year the theme is “Building Financial Resilience in a COVID-19 Environment”. The activities for the month will cover the following subthemes: • Living Through ‘Rainy Days’: How to Manage Your Money in Challenging Times. • It’s Happening Online: Using the Internet as a Tool in the New Normal. • Turning the Frown Upside Down: Creating Opportunities From COVID19.

This year’s FIM is considered to be particularly critical to help cushion the economic and financial impact of COVID-19 to the public and provide the much needed information and guidance on how to cope in this new normal. COVID -19 has brought to the fore the reality that financial resilience forms an integral part of our daily lives and that of our clients.

Financial resilience helps individual and businesses cope with difficult financial circumstances (whether arising from a pandemic as is the case with Covid-19 or the impact of natural disasters).

Therefore, as part of the Bankers Association of Saint Lucia strategy of public engagement and education, a number of activities are being undertaken during the month of October to enhance the level of financial literacy amongst Saint Lucians and help build financial resilience.

These activities will include: 1. A panel discussion on NTN on 14th October @ 8.00 pm. Topic- “Living Through ‘Rainy Days’: How to Manage Your Money in Challenging Times. 2. Meet the Bankers Newspaper articles weekly from the week ending 16th October featuring senior bankers. 3. Weekly Radio Interviews on the topic – “It’s Happening Online: Using the Internet as a Tool in the New Normal. 4. Weekly donations to homes for the elderly, vulnerable and less fortunate. 5. Regional Webinar in collaboration with the ECCB on 19th October on the topic – “Turning the Frown upside down: Creating Opportunities from COVID-19”. 6. Virtual discussion with Primary and Secondary school students’ 20th & 22nd October topic – “Coping in times of financial crisis”. 7. Webinar on 21st October for LFI’s Employees on the Topic – “The Impact of COVID-19 on the Property Sector”. 8. Essay competition amongst Primary and Secondary Schools on the Topic- “The Impact of COVID-19 on my family finances and how I have adapted to the new normal”.

Prizes – First three winners of a laptop each at the primary and secondary school level. The deadline for submission of the essay is 23rd October 2020. 9. Webinar on 27th October for LFI’s Employees on the topic- “The Impact of COVID-19 on the Insurance Industry”. 10. A donation from the Bankers Association to deserving students of Secondary Schools on 29th October.

One laptop per Secondary School for a deserving child who shows promise but the parents cannot afford to purchase the electronic equipment, 24 students will receive lap tops. In celebration of FIM 2020, the Bankers Association of Saint Lucia has released a jingle which was written and arranged by Mr. Buffalo Odlum, produced by Mr. Semi Francis and sang by Ms. Sharma Joseph, daughter of Mr. Odlum and employee of CIBC FirstCaribbean.

The members of the Bankers Association of Saint Lucia thank the general public for your continued support and participation and look forward to a legacy Financial Information Month 2020 during what may very well be the most trying time in modern day history.

Finally, we urge the general public to continue to follow the COVID-19 protocols which have assisted in ensuring minimal spread and zero deaths to date in Saint Lucia. – 1st National Bank St. Lucia Limited – Bank of Saint Lucia Limited – Capita Financial Services Inc. – CIBC FirstCaribbean International – Financial Investment And Consultancy Services Limited – First Citizens Investment Services Limited – RBC Royal Bank – Republic Bank (EC) Limited – Sagicor Finance Inc. – Saint Lucia Development Bank – St Lucia Mortgage Finance Company Limited.