President's Message
Atty. Benedicta Du-Baladad Message from the President:

Benedicta Du-Baladad

To FINEX members and friends,

June 2017 Issue

The Special Joint Testimonial Luncheon in honor of Bangko Sentral ng Pilipinas Governor Amando M. Tetangco, Jr. on May 24 was a huge success. FINEX, as the lead convenor, together with AMCHAM, CIBI Foundation, ECCP, MAP, MBC and PCCI, honored and celebrated Gov. Tetangco’s 12 years of successful leadership that leads to our country’s monetary stability and economic growth.


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2017 Year-Round Corporate Sponsors




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The Financial Executive holds a position of trust and confidence. This fiduciary role should be paramount consideration in his dealings, both internal and external. He must act with utmost fairness and according to the highest moral principles, consciously and consistently pursued.


Loyalty to the Organizations. He should be loyal to the Organization he serves and work towards the attainment of its legitimate goals and objectives. Should he believe strongly that any goal, policy or directive of his Organization is immoral or otherwise illegal, he has an obligation to seek clarification and guidance. If his belief were to remain unshaken, within reason, he should seek to have such a guideline rectified or removed. In an extreme situation, the Financial Executive should prefer to dissociate himself from the Organization, rather than be a party, whether actively or tacitly, to a grave injustice or fraud. 
2.Keeping of Books and Records. He should fully, promptly and accurately document and reflect in the proper books and records, all business transactions of the Organization, in accordance with generally accepted accounting principles and in consonance with the Organization's relevant guidelines and policies.
3.Resource Management. He should prudently manage and conscientiously safeguard the Organization's funds and assets, accurately reflecting them in the record and allowing access and withdrawals only in accordance with established Organization's policies and procedures.
4.Conflict of Interest. He should act in the best interest of the Organization at all times, keeping himself away from situations which would tend to weaken his independence of judgment  and action. He should not only avoid the fact, but also the appearance of conflict of interest.
5.Relationship with Employees. He should act in the best interests of the Organization at all times, keeping himself away from situations which would tend to weaken his independence of judgment and action. He should not only avoid the fact, but also the appearance, of conflict of interest.
6.Compliance with Laws. He should comply with all government laws and regulations, abstaining from any action or activity which may be violative of the same.
7.Contractual Obligations. He should observe strictly the terms and conditions of existing contracts and agreements entered into by the Organization he serves with particular attention to the compliance with the financial terms and conditions of such contracts.
8.Relations with Third Parties. He should promote honesty and fairness in the Organization's relationships with its creditors, customers, suppliers, competitors and with the public at large. He should support clean, healthy competition and the free play of the market forces.
 9.Professional Development, Social and Civic Involvement. He should consciously undertake efforts to upgrade his skills as a financial executive, so that he may consistently render a high level of service to the Organization he serves. He should, likewise, widen his own perspectives by participating in building up the partnership between his Organization and the community in which it operates, and in balancing their respective interests.
 10.Moral Uprightness. While recognizing his own right to privacy, he should nevertheless conduct his private and personal life with due consideration to his position in the management hierarchy, avoiding acts which would tend to reflect adversely on the Organization or to set an improper example for employees.


This Market (still) has Legs
Mr. Ronald S. GosecoBy Ronald S. Goseco

July 21, 2017

This Market (still) has Legs

I recently attended the 2017 mid – year outlook of Citi. Their outlook for the reminder of the year is still cautiously optimistic, with the global recovery appearing to be on track despite the rising Chinese economy concerns. As of May, global equities have rallied 10.5 % with Emerging Market equities up 17% on a year to date basis. Bond markets have also posted positive returns of around 4% surprising a lot of investors.

A crisis cycle
J. Albert GamboaBy J. Albert Gamboa

July 21, 2017

A crisis cycle

Members of the Financial Executives Institute of the Philippines (FINEX) had been excitedly anticipating the general membership meeting last July 19, as the confirmed guest speaker was Defense Secretary Delfin N. Lorenzana.

Fringe benefits and the power of content
Ms. Wilma Inventor MirandaMs. Wilma Inventor Miranda

MANILA BULLETIN (Business Option)
July 20, 2017

Fringe benefits and the power of content

When Trump won the elections, I was in the United States last November 2016. We went to a restaurant for dinner after the election results came out and we were discussing how in the world Trump won? There were Filipinos though, who voted for Trump and I knew later there were many of them who voted for him including some Filipinos whom I met on the plane back home.

Now and then, a Contrast
By Dr. Conchita L. ManabatBy Dr. Conchita L. Manabat

July 19, 2017

Now and then, a contrast

When virtue is lost, benevolence appears; when benevolence is lost, light conduct appears; when right conduct is lost, expedience appears. Expediency is the mere shadow of right and truth; it is the beginning of disorder. —Lao Tzu

Zoilo By: Zoilo "Bingo" P. Dejaresco III

MANILA BULLETIN (Business Option)
July 18, 2017


Even newly-installed Bangko Sentral ng Pilipinas Governor Nestor Espenilla Jr. has pointed at cyber-criminality as one of the major concerns of his new administration. The US$81-M hacking of the Bangladesh sovereign account and the money laundering that ensued here is still -fresh in every one's mind. The recent glitches in the Bank of the Philippine Islands system and the Banco de Oro ATM portfolio, although monetarily harmless to clients are clear signs the banking scene has been altered by technology,.

‘1 with the 99’
Flor G. TarrielaBy Flor G. Tarriela

MANILA BULLETIN (Business Option)
July 13, 2017

‘1 with the 99’

“1 with the 99”. What does it mean? asked former finance undersecretary Romy Bernardo.  So, with PNB Vice Chair Rico Alfiler and Romy, we attended the Department of Finance’s (DOF) “1 with the 99” forum last week. The forum aims to inform the public about the Tax Reform for Acceleration and Inclusion Act (TRAIN).