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JUN 21th, 2012

Guillermo de la Dehesa and Juan Carlos Ureta examine the social impact of finance in an FsF workshop

On June 21 IE Business School’s NGO Financieros sin Fronteras (FsF - Finance without Borders) held a workshop on The Finances of Social Impact to examine how finance and financiers can help eradicate poverty through micro finance, and to hear about the experience of FsF’s work in Ghana.

The workshop was held at the Madrid Stock Exchange, and participating experts included Guillermo de la Dehesa, President of Financieros sin Fronteras and Chairman of IE Business School International Advisory Board, Juan Carlos Ureta, President of the Spanish Institute for Financial Analysts and Renta 4, Ignacio de la Torre, Vice President of FsF and Director of the IE Business School Master in Finance programs, and Fernando Fernández, Director of the IE Business School Chair in International Finance. 

Participants in the workshop analyzed the role that finances and financiers should play in developing microfinance as an engine for socio-economic development in disadvantaged regions. The idea would be to use micro finance organizations to promote financial inclusion to support people with the potential to foster productive micro activities. Speakers in the workshop debated issues like the role of finance as an engine for economic growth, social awareness in finance and business education, and the potential of micro credits to foster social development or financial inclusion in a globalized world. 

“The finance sector can and should contribute to the effort to eradicate poverty.   Here in Financieros sin Fronteras we saw how it worked when we provided consulting services free of charge in Ghana with the aim of increasing the country’s capacity to finance productive activities,” says Ignacio de la Torre, Vice President of FsF and Director of the IE Business School Masters in Finance programs.

Juan Carlos Ureta, President of the Spanish Institute of Financial Analysts (IEAF), explained that in addition to developing the IEAF financial analysis activities in full, it is important to raise a social awareness of the most disadvantaged segments of society. “Analysts can and must get involved in initiatives that support general well-being and show solidarity with people, and these initiatives should increasingly become part of our day to day, alongside what professionals like Financieros sin Fronteras are doing in this field. The experience of and commitment to years spent educating future analysts and finance professionals in general makes IEAF ideally placed to support all the initiatives that serve to make these objectives reality.”

Financieros sin Fronteras (FsF) is a non-profit association created to respond to the need to strengthen the microfinance sector and place the potential of IE students and professional experience of its professors at the disposal of IMFs and private entities that want to develop their ethical and social commitment.

The IEAF is a professional non-profit association for analysts, investors, finance professionals from the banking and business sectors, as well as university professors in the field of finance. The number of IEAF members currently stands at 1,500.