Finance
Amazonian Church discusses new rite, finance, and participation of women
SÃO PAULO – Five years after the Amazon Synod, members of the region’s church gathered in Manaus, Brazil, in order to discuss ways to implement the changes suggested in 2019 during the meeting in Rome.
The need to increase the women’s participation in ecclesial life and alternatives for the Church’s financial challenges in the Amazon were among the most pressing themes debated by the participants between Aug. 19-22.
The meeting was led by Brazil’ Bishops’ Conference’s Special Episcopal Commission for the Amazon (CEA) and was attended by members of the Pan-Amazon Ecclesial Network (REPAM) and of the Amazonian Ecclesial Conference (CEAMA).
The message released by the participants of the encounter on Aug. 22 demonstrates the local churches’ biggest concerns and how they expect the Church to deal with them.
“We structured the discussion and the themes of the letter according to the reality of several Amazonian communities,” Bishop Raimundo Vanthuy Neto of São Gabriel da Cachoeira told Crux.
The document establishes six commitments assumed during the event regarding the Church’s challenges to keep evangelizing the Amazonian communities.
The first one concerns the formation of Catholics in the region. The participants agreed to establish a committee to accompany the education of priests, to keep promoting dialogue between Catholic universities and seminaries, and to allow the exchange between schools and experiences of education of lay people.
The following commitment encompasses ministries. The Amazonian Church will elaborate a document reflecting on the needed ministries in the region and will institute ministries of ecclesial leaders.
The document also mentions the debates regarding the common house. The Amazonian Church will establish a Pastoral Ministry of the Common House and the Ministry of the Care for the Common House.
“There was much debate about the participation of the Church in the United Nations Convention on Climate Change [known as COP 30], which will happen in Belém next year. There’s an urgent need to stop deforestation in the region in the face of a continuous climatic crisis,” Vanthuy Neto said.
After a long and severe drought in the Amazon in 2023, the level of the rivers are falling again this year, and the air quality is unprecedentedly low in different Amazonian areas.
“The climate crises that have been occurring in the Amazon over the past years are a sign that human actions are destroying the biome. The last administration [headed by President Jair Bolsonaro] was responsible for loosening control over the Amazon,” Sister Laura Manso, a member of the Amazonian Ecclesial Conference, told Crux.
According to Manso, CEAMA will also have its second plenary assembly, something that will happen between Aug. 23-26. At least 72 participants are waited to come from seven bishops’ conferences and nine countries.
“It’s up to CEAMA to work on such changes and suggest ways of implementing them and make them real,” she said.
One of CEAMA’s current challenges is to identify and develop what would be the Amazonian rite, something that was also discussed during the Synod and by Pope Francis in his Querida Amazonia, the apostolic exhortation released after the meeting in 2019.
Vanthuy Neto said it’s not up to the local Church to “invent” a rite, but to reflect on the already existing adaptations that are a regular part of the celebrations in different Amazonian communities.
“In several regions, Indigenous groups use a kind of clay bowl instead of a thurible, and burn their usual resins inside of it. Those are examples of cultural and identity elements of such peoples. So, we won’t create anything, we’ll just build a new rite according to already existing practices,” the bishop said.
The Amazonian rite will determine that celebrations and sacraments may be performed in the native groups’ languages, he explained.
“There are several cultural traits that are shared by many Amazonian Indigenous groups, despite the multiplicity of cultures in the region,” Vanthuy Neto said.
A group of anthropologists, priests, and missionaries has been working on the new rite, the bishop explained, but added the committee still has much work to do.
“Only after the establishment of a new rite can we send a letter to the Vatican and ask their permission to experiment it. It will be a long process,” Vanthuy Neto said, and he can’t estimate how long it will take to finish.
The Amazonian Catholics who attended the event also talked about the women’s roles in ecclesial communities all over the Amazonian territory. That subject generated a heated discussion during the Synod five years ago, and now many Catholics have been demanding that women can become deacons.
“The ordination of women deacons – and of married people as priests – still causes heated debates in the region, but it was a need expressed by the Amazonian communities. There’s a chronic lack of people in the region and the pastoral work must go on,” Bishop Flavio Giovenale of Cruzeiro do Sul, Acre state, told Crux.
Study committees have been working on the subject and the result of their analysis will be disclosed next year.
Giovenale said the encounter promoted the debate of very concrete problems, including the continuous financial challenges of the Amazon Churches.
“When I assumed the diocese it was in huge debt. All I’ve been doing is to pay for the incoming interests. But the costs keep growing,” he said.
Fuel and some foods have a considerably higher price in regions like Cruzeiro do Sul, due to the lack of infrastructure that elevates transportation costs.
“Distances between communities and churches are vast. We spend a lot of money on gasoline,” Giovenale said.
In the event, the local Church agreed to work on the creation of a fund for donations for the Amazon Church. The participants also decided to build a team of experts in preparing projects to be submitted to international institutions that can fund their activities.
“Many dioceses in the region are not prepared to deal with such dynamics. A group will study how that team can be formed,” the bishop added.
The encounter’s final document mentions the need to be courageous and accompany the Amazonian people in its struggle for their rights.
“The Holy Spirit sustains our identity as a Church that is side by side with the people, and struggles with the people for their rights,” the letter read.
COLUMBIA, S.C. (WCIV) — Dozens of local elected officials from across South Carolina are urging state lawmakers to pass legislation that would allow cities, counties and school districts to deposit taxpayer funds in the financial institution of their choice, including qualified credit unions.
The Palmetto Public Deposits Coalition, formed by more than 40 mayors, county council members and municipal leaders have signed a joint letter calling on the General Assembly to advance the South Carolina Financial Freedom Act, a bill that, if signed, would lift long-standing restrictions that require public entities to deposit funds exclusively in commercial banks, even though state law already allows credit unions to accept public deposits.
The coalition argues the current system limits competition and prevents local governments from seeking potentially better rates, lower fees and more responsive service.
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“Local governments should have the same financial freedom that families and businesses have — the ability to choose the financial institution that best meets their needs,” Rick Osborn, chairman of the Palmetto Public Deposits Coalition, explained. “This commonsense reform will introduce healthy competition, help stretch taxpayer dollars further, and strengthen partnerships with community-focused financial institutions that are deeply invested in South Carolina.”
The efforts also won support from the South Carolina Association of Counties and the Municipal Association of South Carolina, whose boards have formally endorsed expanding deposit options. Their backing signals broad agreement among local government officials that the law should be modernized.
In their letter to lawmakers, the coalition argued that permitting credit unions to hold public deposits would restore financial choice and improve outcomes for residents.
“This legislation is about giving local leaders more tools to serve residents effectively and make responsible financial decisions,” said Goose Creek Mayor Greg Habib, one of the signatories.
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The Financial Freedom Act would allow, but not require, public entities to deposit funds in qualified credit unions. Coalition members said the bill is not designed to favor one type of institution over another, but to encourage competition in a market currently limited to commercial banks, many of which operate outside the state.
The Palmetto Public Deposits Coalition said it will continue working with local leaders, state associations and lawmakers as the legislation moves through the current session.
The FTSE 100 (^FTSE) was hovering around the flatline on Friday, while European stocks headed lower, as traders shrugged off Donald Trump’s latest pause on striking Iran’s energy infrastructure.
On Thursday night, the US president extended the deadline for Iran to open the strait of Hormuz by 10 days, meaning the new date would be 6 April. He claimed that talks were “going very well”. However, Iran denied it was “begging to make a deal”, despite Trump’s earlier claims.
It comes after Wall Street posted its biggest daily loss since the Iran war began on Thursday.
The Wall Street Journal also reported on Thursday that the US was considering sending as many as 10,000 additional troops to the Middle East.
Tony Sycamore, market analyst at IG, said Trump has extended the uncertainty gripping markets.
“While the rhetoric around de-escalation and dialogue is certainly preferable to outright conflict, the market appears to be growing increasingly numb to President Trump’s verbal reassurances. By extending the deadline, it effectively kicks the can down the road, pushing back any concrete resolution regarding the reopening of the Strait of Hormuz. This, in turn, simply extends the uncertainty weighing on markets and the broader global economy.”
Elsewhere, UK retail sales dipped by 0.4% in February, following a rise of 2.0% in January, the Office for National Statistics revealed. In the December to February quarter, sales volumes were up 0.7% compared with the previous three months.
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London’s benchmark index (^FTSE) was hovering around the flatline in early trade
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Germany’s DAX (^GDAXI) dipped 0.5% and the CAC (^FCHI) in Paris headed 0.2% into the red
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The pan-European STOXX 600 (^STOXX) was down 0.3%
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Wall Street is set for a muted start as S&P 500 futures (ES=F), Dow futures (YM=F) and Nasdaq futures (NQ=F) were all lacklustre.
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The pound was 0.1% down against the US dollar (GBPUSD=X) at 1.3311
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FARGO, N.D. – North Dakota State University’s College of Business has launched the Center for Banking and Finance, a new academic and industry‑engaged hub designed to prepare students for careers in banking and finance while supporting the evolving workforce needs of the region’s financial industry, a release states.
Announced during a press conference at NDSU’s Louise Auditorium at Barry Hall, the center brings together students, faculty and industry partners to expand experiential learning opportunities, strengthen connections to employers, and address emerging trends shaping the financial services industry. The center is housed within NDSU’s College of Business and builds on growing student interest in finance‑related programs.
“The Center for Banking and Finance reflects NDSU’s responsibility as a student‑focused, land‑grant, research university to respond to workforce and economic needs across our state and region,” said Interim President Rick Berg. “By connecting education, industry, and community, this center helps ensure our graduates are prepared to contribute on day one and throughout their careers.”
The center will support undergraduate and graduate students through hands‑on learning experiences, exposure to financial tools and technologies, and direct engagement with financial institutions, regulators and business leaders. It will also serve professionals already working in banking and finance through workshops, training and research‑informed programming aligned with business needs, according to the release.
“The Center for Banking and Finance is about momentum — students who are eager to learn, faculty who are pushing applied scholarship forward, and industry partners who want to shape the future workforce,” said Kathryn Birkeland, Ronald and Kaye Olson dean of the NDSU College of Business. “When education and industry move together, everyone benefits.”
The launch of the Center for Banking and Finance coincides with a series of regional events focused on finance, fintech and economic outlook, including programming with the Bank of North Dakota, the Federal Reserve Bank of Minneapolis and regional business leaders. Together, these events underscore the Fargo‑Moorhead area’s role as a hub for financial dialogue, talent development and economic collaboration.
The center’s foundational banking partners include Dacotah Bank, Gate City Bank, Bell Bank and Western State Bank, who attended the launch and are helping shape early student experiences and industry-informed programming.
The center is led by Mark Jensen, a career banker and longtime adjunct instructor who joined NDSU full-time in 2026 as director of the Center for Banking and Finance.
“The Center for Banking and Finance is designed as a bridge,” Jensen said. “It brings industry into the learning experience in meaningful ways, and it gives students clearer pathways into a wide range of banking and finance careers.”
For students, the center represents a more direct bridge between academic study and professional opportunity.
“As a finance student, experiences outside the classroom make a real difference,” said Tavian Nelson, a senior at NDSU majoring in finance. “Going into college, I knew I wanted to be involved in the finance program but was unsure of what that would look like once I graduated. The school has truly shaped my desired career outcomes with many hands-on experiences, professional leaders, and connections throughout my time here. This center will truly strengthen these experiences for students.”
Initially, the center will focus on experiential learning opportunities, business partnerships and workforce‑aligned programming, with plans to expand offerings as partnerships and resources grow. The center is supported through external funding and business engagement.
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