About us > History

The need to fill a long vacuum for a professional association can be devoted to the continuing development and improvement of financial management techniques and the promotion of efficiency in business enterprises urged twelve financial executives to organize the Financial Executives Institute of the Philippines (FINEX).FINEX, a non-stock, non-profit, non-political association, was formally organized on January 15, 1968 with the twelve financial executives as its founders: Elmer D. Aguilar, Reneo A. Albano, Edgardo Bacani, Romeo Y. Co, Romeo C. Esteban, Ramon K. Ilusorio, Jaime Y. Ladao, Vicente J. Muro, Vicente Pacis, Jr., Joaquin R. Olaño, Antonio Sta. Ana, and Arsenio J. Vistro.

Through the years, FINEX has undertaken foundation and activities geared towards the fulfillment of the objectives for which it was established. It has continuously given its members the latest in concepts, programs and policies of business finance and management through its various services. The government formally recognized the immense contributions of financial executives in the development of financial management as well as the promotion of efficiency in government operations and in the business enterprises through Executive Order No. 34 which declares the second week of October of every year as FINANCIAL EXECUTIVES WEEK. To date, the membership of FINEX totals 755 and is still growing.

IAFEI The International Association of Financial Executives Institute (IafEI), an organization of financial executives institute from various countries, is a private non-profit and non-political association. Along with the financial executives institutes of eleven other countries, FINEX shares the honor of being one of the founders of IafEI which is based in Zurich, Switzerland. IafEI aims to bring the Institutes into a productive working relationship with each other and thereby advance the understanding of concepts and improvement of practices and techniques of financial management. FINEX has shown active participation in the IafEI through its international congresses, board, meetings, area conferences and working committees. There has been a continuing delegation to the IafEI World Congress held annually in different countries. FINEX hosted the very successful 6th IafEI World Congress in 1974, the 19th IafEI World Congress in 1988, and the Asia-Pacific Day last October 13 16, 1993. Presently, the IafEI has 23 member institutes representing Argentina, Australia, Belgium, Brazil, Columbia, Costa Rica, France, Germany, Great Britain, Hongkong, Indonesia, Ireland, Italy, Mexico, New Zealand, Philippines, Portugal, Republic of China, South Africa, Spain, Switzerland, USA, Canada, and Venezuela.

MISSION STATEMENT

"FINEX is an organization, national and international in scope, composed of eminent professionals, entrepreneurs, public servants and academicians, whose knowledge and skills are key factors in the formulation of policies and decisions in the financial management of their respective organizations. It is a forum for the development and advancement of its members, particularly in the field of modern business practice, and in the promotion of business ethics and social involvement. FINEX and its members will continuously take a proactive stance in shaping public opinion and key policy on issues related to their areas of expertise."

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