After the enactment of Law 163-21, on promoting the placement and marketing of publicly offered securities in the Stock market of the Dominican Republic, now the great challenge of the sector is the financial education of the population, according to the executive director of the Association of Stock Exchange Posts of the Dominican Republic (APB), Mario Franco.
He explains that although the Stock market The Dominican Republic had a “very important regulatory” challenge ahead of it, last year (2021) a “giant” step was taken, which was a new law to promote “our market” that basically eliminated the most important obstacles from the point of view of regulatory view. Now there remains an obstacle just as big, which is the obstacle of education.
“The Dominican Republic, like many similar developing countries, needs people who are interested in financial educationand when I talk about that, I don’t just mean professionals, but ordinary investors, individuals who have a thirst for learning”, he specified.
Franco spoke to Free Journal at the Third Forum of Stock market developed by the APB, where the main conference was given by the Canadian specialist, mathematician, physicist, academic and financier, Moshe Milevsky, in which he discussed the different criteria for the attendees to identify themselves as stocks or bonds.
On financial educationMilevsky said that in the Dominican Republic they need to establish a much stronger finance culture.
He said that on the way from the airport to the city ads are only seen to consume, not to encourage people to save.
“I think it’s important to have a personal finance culture; This starts with education in schools. But parents have a great responsibility to teach long-term thinking at home. And it is also a responsibility to keep the finances more attractive (that people do not see the issue as heavy)”, Milevsky said prior to participating in the conference.
Later, Franco said that the Stock market The Dominican Republic is highly prepared to advise what type of instrument is most convenient for the investor according to their profile and risk appetite, in order to obtain the greatest possible benefit from the sector.
Franco reaffirmed that the purpose of the forum goes beyond encouraging investment: it is to strengthen the base of the financial educationso that people can act through knowledge and responsibly face future decisions that affect their financial planning and obtain the greatest possible benefit.
