During the recent World Savings Day, executive president for Banco Adopem, Mercedes Canalda, spoke of the importance of saving, as it helps generate opportunities for growth and can make societies more inclusive- fundamental to tackle any crisis.
The president of the BBVA Microfinance Foundation’s Dominican MFI, stated that the Dominican Republic has one of the highest savings rates in the Caribbean. Nonetheless, it still needs to save more and better, not just to prepare for hard times that may come, but also to guarantee a better future.
Canalda also explained that the institution, which closed 2017 with over 400 thousand savings accounts, promotes financial literacy as a pillar for cultivating an environment that encourages microentrepreneurs to make saving a habit.
“The goal is to inspire positive attitude towards savings in low-income segments of the country, especially among women, encouraging them to open accounts and make frequent deposits, emphasizing how they can increase the balances on their savings accounts,” she stated, adding that “through savings accounts, you earn interest which helps you achieve your goals faster.”