October is Financial Information Month in the Eastern Caribbean Currency Union.
The theme for FIM is: Financial Empowerment Through Education. FIM is a regional financial, economic, business and entrepreneurial education campaign that has been executed in the Eastern Caribbean Currency Union (ECCU) since 2002. The Month forms part of an ECCU financial and economic education programme which the ECCB coordinates in collaboration with ECCU member governments, financial and academic institutions, the media, other private and public sector institutions and community-based groups. The programme 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.”
The area of focus for FIM 2018 is: Conducting and Protecting Your Business in a Digital Environment. The activities will focus on the following sub-themes:
- From standing in line to going online – providing information about online services offered by financial institutions and other agencies e.g., government e-services;
- New Currency: Cryptocurrency, Bitcoins, Digital Wallets…Are We Ready? – examining the required infrastructure, impact on the ECCU payments system, legal framework requirements/implications, regulation and supervision;
- Cyber security: use strong protection every time – advising the public on how to protect themselves from identity theft, online fraud and the proper use of ATMs; and
- Restructuring and transforming your business to take advantage of opportunities in the digital environment – highlighting how businesses can use technology to advance their operations, the importance of intellectual property rights for producers of digital works, how artistes/artisans can reap maximum financial gains from creative work.
Calendar of Events for Montserrat.
Church Service – This year contingents from the Financial Institutions will visit the Cavalla Hill Methodist Church. The Resident Representative will present a short overview on FIM 2018, during the service. (30 September)
ECCB Connects – FIM Special
Every work day after the ECCB Indicative rates are given, an audio version of documented ECCB Connects will be presented to the listening public.
Financial Tips – These tips will provide simple and effective messages on the campaign theme. They will be aired each week day except Wednesdays. They will also be sent in text messages and placed on the Government of Montserrat’s Website.
Radio Quizzes – These quizzes are intended to engage children of all ages each Wednesday Morning on the Breakfast Show from 6:40 a.m. to 6:55 am. Each winner will receive an monetary gift.
FIM Theme Song and Music Video – The FIM theme song will be aired each morning Monday – Friday on Radio ZJB just before the ECCB Indicative Rates are given.
Financial Walkathon – Employees of financial institutions will take a fitness walk after their blood sugar and blood pressure are taken. The same tests and a pep-talk will be conducted after the walk. The talk will highlight the
correlation between physical fitness and financial well being – (27 October)
Conducting and Growing Your Business in a Digital Environment Symposium – 25 October (4:30 – 7:30 p.m.)
The symposium targets the general public attempting to bring enlightenment on the digital environment to business owners as well as prospective business owners.
- From standing in line to going online – information about online services offered by financial institutions, Electronic
Funds Transfer, online banking, government e-services., investing on the ECSE, etc.
- New Currency: Cryptocurrency, Bitcoins, Digital Wallets…Are We Ready? – legal framework
requirements/implications, regulation and supervision
- Cyber security: use strong protection every time – how to protect oneself from identity theft, online fraud, hacking of accounts, guidelines for using ATM machines, credit cards and other online payment platforms
- Restructuring and transforming your business to take advantage of opportunities in the digital environment –
point-of-sale transactions, online services, the importance of intellectual property rights for producers of digital works, how to reap maximum financial gains from creative work e.g. graphic artists, song writers, music producers,
- Also a financial contribution will be given to one of the charities on the island that has not yet benefited from
the benevolence of the financial institutions.