Security Bank cited for advocacy

MANILA, Philippines - The Bangko Sentral ng Pilipinas (BSP) has conferred to the Security Bank Corp. (SBC) a special recognition for advocacy support at the recent BSP Stakeholders’ Awards 2011 for its participation in its Conference on Gearing Up for External Competitiveness (CGUEC). The citation recognizes Security Bank’s support in the BSP’s financial learning campaign and information and education programs held last year in Manila, Cebu, Angeles and Davao. CGUEC is one of the key component programs of the BSP-Economic and Financial Learning Program to promote awareness of exporters/importers and other sectors exposed to foreign exchange (FX) risks, the benefits of hedging, and how FX risks could be managed through the use of derivatives, and present the other determinants of external competitiveness such as quality of products, technology and market size. The program is specifically targeted for exporters, importers, organizations of overseas Filipinos, business process outsourcing (BPO) entities, FCDU borrowers and other users of FX funds.