SBIF-MIPP Financial Education and Inclusion Awards Ceremony

With the participation of President Michelle Bachelet, the first version of the ‘Financial Education and Inclusion Award’, organized by the Superintendencia de Bancos e Instituciones Financieras (SBIF) and the Millennium Institute for Market Imperfections and Public Policy (MIPP), was held on October 4th, 2016, in the context of the ‘Financial Education Month’ celebrated by the SBIF.

The purpose of this activity was to reward outstanding initiatives of organizations, journalists, and students who presented their best ideas to educate the community on topics of financial education and inclusion.

The first place in the school competitors category was for Master School of Lampa, with their project oriented to teach different ways to save money and economize.

Concerning the other categories, MIPP researcher, Patricio Valenzuela, and the SBIF superintendent, Eric Parrado, priced the journalist Francisco Franulic (Canal 13) who was awarded the first place on the category ‘Aporte Periodístico de Educación Financiera’ for his article on the concept of interest rate.

Organizations such as Falabella Financiero, Banco Estado, Coopeuch, Fondo Esperanza, among others, were also awarded for their initiatives on financial education and community inclusion.

To conclude the ceremony, President Bachelet emphasized the importance of educating the country on financial topics: ‘It helps us to avoid the permanent risk of over-indebtedness and the wrong use of financial products, or, as we have seen lately, it should help us to avoid the temptation to invest in companies which promise impossible profitability’, the President said.

At the same time, the President highlighted the benefits of financial inclusion: ‘this allows people to improve their resource management and to purchase real estate by means of the banking credit system’.

The ‘SBIF-MIPP Financial Education and Inclusion Award’ was celebrated in the context of the ‘Proyección al Medio Externo’ (PME) program of the Iniciativa Científica Milenio.

More information on the SBIF’s website.