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Global firm launches Financial Inclusion Action Plan
A global firm has pronounced its commitment to creating financial inclusion for all Australians, with the launch of a blueprint to support those in need.
Jerome Doraisamy
On Wednesday, Ashurst presented its new Financial Inclusion Action Plan (FIAP), outlining measurable actions the firm will take to strengthen the financial inclusion and resilience of up to 3.3 million persons across the nation experiencing “severe vulnerability or exclusion from mainstream financial institutions”.
“We believe the legal profession has an ethical obligation that extends beyond solving our client’s legal issues,” he said.
“This includes providing support to our staff, clients and the communities in which we operate when they are experiencing financial hardship.”
The firm’s FIAP will focus on specific priorities for its existing pro bono clients, providing legal support on the FIAP to other participating organisations, and training for its staff.
In addition, commitments laid out include reviewing matter management services for pro bono clients to involve assessments of financial health, and a review of procurement processes to identify existing or new supplier relationships that promote financial inclusion.
“We believe this will make a tangible difference and I am proud that Ashurst is the first global law firm to sign up to this initiative,” Mr Jenkins said.
The FIAP Partnership Group said Ashurst is joining a growing community of organisations that “understand they play a critical role” in Australia’s financial future.
Speaking on behalf of the group, Good Shepherd Microfinance general manager Dr Vinita Godinho said, together, this community can reduce inequalities and realise inclusive growth for all Australians.
“Financial hardship can impact us all, at any stage in our lives – through the FIAP, our hope is that every organisation will be able to respond in time and every time to ensure financial hardship can be identified early, managed and overcome,” she said.
“By building capacity, awareness and greater access to appropriate products and services, organisations will see the social and economic benefits in their engagement, outcomes and prosperity of customers and employees.”
Jerome Doraisamy
Jerome Doraisamy is the editor of Lawyers Weekly. A former lawyer, he has worked at Momentum Media as a journalist on Lawyers Weekly since February 2018, and has served as editor since March 2022. He is also the host of all five shows under The Lawyers Weekly Podcast Network, and has overseen the brand's audio medium growth from 4,000 downloads per month to over 60,000 downloads per month, making The Lawyers Weekly Show the most popular industry-specific podcast in Australia. Jerome is also the author of The Wellness Doctrines book series, an admitted solicitor in NSW, and a board director of Minds Count.
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