COMPILATION Volunteers Interactive Session - 2014 Symposium to Advance Financial Literacy

2nd GLOBAL POLICY RESEARCH
SYMPOSIUM TO ADVANCE FINANCIAL
LITERACY
6 November 2014 – OECD Conference Centre – Paris
www.oecd.org/finance/financial-education
www.financial-education.org
#OECDfe

Assessing financial literacy among
15-year-old students

Status of
national
strategies for
financial
education in
G20
members

Evidence and guidance to address
gender differences in financial literacy

Case studies and policy guidance on
financial education in schools

CENTRAL BANK OF
ARMENIA
Ms Sona Lalayan
Sona.Lalayan@cba.am

Setting climate
Targeting
Supporting
School
Youth
Farmers
…
Cooperation schemes & Institutional setup
Sustainable funding
Monitoring
and evaluation
CENTRAL BANK
OF ARMENIA
Sona Lalayan
sona.lalayan@cba.am

Sona Lalayan sona.lalayan@cba.am
•Banks
•Insurances comp.
•Credit org.
•others
WORKING IN PARTNERSHIP
See more : www.abcfinance.am
CENTRAL BANK OF ARMENIA
CELEBRATING FINANCIAL LITERACY ANNUALLY
SUCCESS ONLY IF POSITIVE ATTITUDE

BELGIUM
FINANCIAL SERVICES AND
MARKETS AUTHORITY
info@wikifin.be

Key figures since the launch of the program Jan. ‘13 – FSMA; Belgium
www.wikifin.be 1,289,277 visitors to date
savings account simulator 380,000 times used
monthly newsletter
10,741 subscribers
January 2013
May 2013
Pensions campaign
Nov. 2013
Feb. 2014
1,000 questions on housing over two weeks
real estate simulator 73,000 times used
contact: info@wikifin.be
WEBSITE
CAMPAIGNS
Nov. 2014
Housing campaign
Inheritance campaign
110,000 quizzes completed
[ongoing]

Educational materials for teachers of secondary schools – FSMA; Belgium
contact: info@wikifin.be
Strategic objective
Make sure all students, when they leave school, have the skills, knowledge and attitude to understand the society in which they live & are able to make informed financial choices at various stages of their lives.
Themes: - Budgeting - Responsible consumption - Borrowing - Paying money - Saving and investing
Pilot project: - testing materials in the classroom - integrating in courses
25 schools
Development of educational materials by the FSMA
Educational materials available for all schools and teachers
+
Sharing best practices
Jan. 2014
1.
Sep. 2015
3.
Oct. 2014
2.
Best practices

CENTRAL BANK OF EGYPT
www.ebi.gov.eg

“Shaping the Future” Initiative
•Shaping the Future is designed by the Egyptian Banking Institute to create and raise the financial literacy and awareness of Egyptian children and youth.
•In Partnership with the Central Bank of Egypt, Ministries, Financial Institutions, NGO’s and international donors, we reached more than 360,000 Children and Youth during 2014 through the following activities:
1.Financial awareness sessions (conducted in schools, youth centers, and universities)
2.Ringing the bell to opening the stock exchange
3.Holding entrepreneurship competition for schools
4.Educating youth from high schools and youth centers on how the stock exchange operates and its value in the economy

“Shaping the Future” Initiative
5. Conducting banks, stock exchange and money museums study tours
6.Publishing an awareness publications series
7.Participating in the Global Money Week
8.Developing info- graphics
Finally, Students signed a pledge to remain committed to spreading the culture of financial awareness
For more information on the initiative, kindly visit our Facebook page:
https://www.facebook.com/shapingthefuture2013

ESTONIAN CONSUMER
PROTECTION BOARD
http://tarbijakaitseamet.ee/en

Cartoons for children
Cartoons on smart use of money.
For example:
•Comparing prices
•Advertisements and cheap prices
•What is shopping spree
Estonian Consumer Protection Board

HONG KONG
INVESTOR EDUCATION
CENTRE
Mr David Kneebone
davidkneebone@hkiec.hk

Hong Kong
Impact of outreach
65%
research more about
investment risks
4.4/5
increase learning interest
69%
set financial goals
68%
repay debts in full
Contact David Kneebone: davidkneebone@hkiec.hk

The Investor Education Centre has developed a suite of user-friendly interactive tools to help people in Hong Kong plan and manage various aspects of personal finance:
-Planning ahead
-Budgeting
-Financial protection
-Retirement planning
-Managing debt
-Saving and investing
More at:
www.hkiec.hk/calculators
Budget Planner & Expense Tracker
Budgeting Worksheets
Net Worth Calculator
Financial Health Check
Savings Goal calculator
Debt Calculator
Retirement Planner
Risk Assessment
Cut-back Calculator
Contact David Kneebone:
davidkneebone@hkiec.hk
Hong Kong

INDIA
NATIONAL CENTRE FOR
FINANCIAL EDUCATION
ncfe@nism.ac.in
www.ncfeindia.com

KENYA
CAPITAL MARKETS
AUTHORITY
Mr Antony Mwangi
Amwangi@cma.or.ke
www.cma.or.ke

SMS-based National Trivia
Competition with prizes
Making learning fun using
mobile phone technology
Youth compete and winners are awarded
with cash invested in securities;
Two universities yearly
University challenge
Working with county governments and youth associations to deliver financial education
Fora for youth groups
Visit universities and share
information/interact with students
Open Days
at universities
Host university students
twice a month at our offices
Interactive sessions
University challenge
Infusing financial
messages on
TV programmes
Communicating financial messages in a fun way through popular TV programmes

KENYA
RETIREMENT BENEFITS
AUTHORITY
Ms Rose Musonye Kwena
rkwena@rba.go.ke

Innovative and effective financial education initiative - Kenya
When Kenyans think ‘retirement’ they think ‘THE END’!
To many Kenyans, aging is to be avoided at all costs:
– e.g dying their hair to look young
It’s not socially acceptable to age. Old age is feared
What Kenyans fear they ignore
Communication Testimonial Reassurance Campaign
Targeted Messaging Reassuring different segments that retirement is cool – especially to the YOUNG WORKERS
•Young people talking happily about retiring after saving to enjoy life
•Young people discussing the tangible benefits of saving through a pension scheme e.g. assigning a portion of their benefits to accessing mortgage
• A calculator that ‘goes’ into the future to show you how much you will have saved depending on how much you wish to save each month and the duration.
Rose Musonye Kwena
Retirement Benefits Authority – Kenya
rkwena@rba.go.ke

LATVIA
FINANCIAL AND CAPITAL
MARKET COMMISSION
www.fktk.lv
www.klientuskola.lv

29
•FINANCIAL EDUCATION WEEK 2014 reach more than 150 education institutions in Latvia
•The motto Find and Reach Your Financial Goal! encouraged everyone to contemplate on financial goals
•Interactive test (7 questions) on the internet Who are you? called to measure personal determination to do it: http://bit.ly/1p9DkLu
21 versions of answers (3 A to every Q)
3 types of personal characters:
A B C

KO DARA FINANŠU UZRAUGS?
FINANCIAL AND CAPITAL MARKET COMMISSION OF LATVIA : www.fktk.lv VIDEO AND TEST ON INTERNET:

CENTRAL BANK OF
LEBANON
www.bdl.gov.lb

BANK NEGARA MALAYSIA
www.bnm.gov.my

35
RAHSIA
Financial Sector Blueprint 2011 – 2020 placed further importance on financial inclusion agenda
Innovative products & services
Innovative channels
Effective FIs & infrastructure
10 financial inclusion strategies under the Financial Sector Blueprint
Broad Strategies
An inclusive financial system that best serves all members of society, including the underserved, to have access to and usage of quality, affordable essential financial services to satisfy their needs towards shared prosperity
1
2
3
High
Take-up
Convenient accessibility
Responsible usage
High
satisfaction
Desired outcomes for the underserved
Well informed & responsible underserved
4
Vision
1.Agent banking
2.Technology based innovative channels - mobile banking
3.Flexible micro- financing
4.Micro-savings product (pilot – BSN)
5.Micro-insurance/ takaful (pilot – Prudential & Allianz)
6.Strengthen DFI’s capabilities in financial inclusion
7.Structured training programmes in financial inclusion
8.Measurement framework & Fin. inclusion index
9.Leverage NGOs for capacity building programmes (pilot)
10.Financial literacy

36
RAHSIA
Innovative outreach channel via Mobile LINK
•Mobile LINK was launched on 9 Dec 2011;
•It is an innovative channel to achieve greater outreach in serving communities of semi-urban and rural areas;
•Terminals in coach are connected to CCRIS(Central Credit Reference Information System), Consumer Redress Mechanism System (CRMS) and BNM’s website
•Services provided include enquiry on CCRIS and financial advisory on financial products
Background
Achievements to date (as at September 2014)
269
47,419
No. of sub-districts covered
No. of participants benefited
97.20%
Overall Satisfactory Level
30.05%
Average Knowledge Enhancement

SECURITIES COMMISSION
MALAYSIA
www.sc.com.my
www.investsmartsc.my

Multiple Modalities: App, Print, Digital & Social

Aimed to assess students’ ability to promote the concept of money management and investing for the future via the peer-to-peer approach.

BANCO DE MEXICO
Mr Pedro Garza López
pgarzal@banxico.org.mx

Most innovative and effective financial education initiatives for young people
2nd Global Policy Research Symposium to Advance Financial Literacy
Team competition for undergraduate students
Child size replica of the Banknote factory
Children webpage

… and general public audience
2nd Global Policy Research Symposium to Advance Financial Literacy
Money museum
Games in
financial education exhibition
pgarzal@Banxico.org.mx

CENTRAL BANK OF NIGERIA
www.cenbank.org

School Reach out and Mentoring in secondary Schools
School Reach Schools
School Reach out
Initiative is targeted at secondary school children
aged between 10 – 14 years
To teach them about importance of savings and
personal financial management
Sessions are facilitated by the Governor & Deputy
Governors of CBN, Heads of other regulatory
authorities MDs/CEOs of Banks and other top
executives in the financial system
So far, over 50 schools have been visited and
more than 5000 school children reached.
Reach out and Mentoring in Secondary Schools

Introducing the
world of money
Children will learn…
• what is saving
• how to save
• how to grow their money
• how to protect their money
N
N
N
N

PERU
SUPERINTENDENCY OF
BANKING, INSURANCE AND
PENSION FUNDS
Mr Juan Carlos Chong
jchong@sbs.gob.pe

THEATER PLAY
FINANCIAL EDUCATION FAIRS
Contact information: Juan Carlos Chong Superintendency of Banking, Insurance and Pension Funds jchong@sbs.gob.pe

FINANCIAL EDUCATION FAIRS
The goal of the program is to create awareness about the value of money and promote good saving habits on children through recreational and educational activities.
Contact information:
Juan Carlos Chong
Superintendency of Banking, Insurance and Pension Funds
jchong@sbs.gob.pe
THE SAVING CIRCUIT

SOUTH AFRICA
FINANCIAL SERVICES
BOARD
Mr Lyndwill Clarke
lyndwill.clarke@fsb.co.za

BANK OF THAILAND
www.bot.or.th/english

Successful financial education initiatives
“A regular reminder of an efficient financial management” – monthly infographic newsletter launched via email on the ‘pay day’ to all BOT’s employee and other subscribers
Financial crime
How to manage your salary
How to pay cheaper in installment loans

Visit us
Website: www.1213.or.th
Facebook: www.facebook.com/hotline1213
Our address:
Financial Consumer Protection Center
Bank of Thailand Headquarter
Samsen Road, Pranakhon, Bangkok, Thailand, 10200

TURKEY
CAPITAL MARKETS BOARD
Mr Bora Oruç
bora.oruc@spk.gov.tr

Bora ORUÇ
Executive Vice Chairman
bora.oruc@spk.gov.tr
An online learning platform designed to offer basic information on financial issues Open to everyone Provides opportunity to measure participation, completion rates and success of the participants Supported by mobile applications

UNITED STATES
CONSUMER FINANCIAL
PROTECTION BUREAU
www.consumerfinance.gov

AUSTRIA
THREE COINS
threecoins.org
cure-runners.at

BRASIL
ASSOCIAÇÃO BRASILEIRA
DAS ENTIDADES
DOS MERCADOS
FINANCEIRO E DE CAPITAIS
(ANBIMA)
portal.anbima.com.br

CHALLENGES
•Coverage of a large number of people
•Accessible cost
•Easily scalable, without largely depending on the Association
•Attractiveness
SOLUTION
•Creating partnerships with universities
•Creating a distance learning course without tutoring
•Using a free and open platform
•Offering bonuses to students who finish the course
LEARNING COMMUNITY (students could talk to each other)
+
COURSE WITH INNOVATIVE LANGUAGE AND APPROACH
HOW TO INVEST IN YOU

RESULTS FROM THE PILOT
•921 students enrolled (of a total of 7,000)
•115 students approved
•948 posts in five mandatory forums
•48 free forums created by students
HOW TO INVEST IN YOU
PRELIMINARY FIGURES OF THE SECOND CLASS
•3872 students enrolled (of a total of 12,000)
•865 students taking the course
More than
of the students agree that
•The course changed the way they approach their financial life;
•They managed to establish connections between the contents and their professional life;
•The participation in the course brought new ideas about how to use money conscientiously;
•They would refer the course to friends and family.
The possibility of taking the course online was important in the decision to enroll for 95% of the students
83% of the students thought that the course met their expectations
14% of the students thought that the course exceeded their expectations

CZECH REPUBLIC
MASARYK UNIVERSITY
Ms Barbora Chmelíková
barbora.chmelikova@gmail.com

www.econ.muni.cz
 preparing University students to deliver
financial education to underprivileged
individuals through NGO’s and community
groups
 ensuring a regular flow of people
delivering financial education
 helping further promote the volunteering and
citizenship ideas and build civil society in the
Czech Republic
 introducing long-term and sustainable concept
of financial education for adults resulting in
system's change
Citi – Masaryk University Financial Capability Program
Barbora Chmelíková
barbora.chmelikova@gmail.com
Department of Finance
Masaryk University

www.econ.muni.cz
Seminars at Children‘s Home
 The university students prepared a lecture aiming at financial literacy.
Barbora Chmelíková barbora.chmelikova@gmail.com
Department of Finance +420 737 588 725
Masaryk University
Contact:

FRANCE
ALERTEDUCATION
WWW.ALERTEDUCATION.EU

+
The main barriers preventing financial education programmes from reaching all young people in France
Financial education :
is not integrated in the curricula
is not integrated in the initial and in- service training of teachers and principals
is left to the initiative of some teachers and so is not compulsive : a source of inequity
is not a priority for French parents, who are mostly focused on what they call “the basic skills”
Two powerful French institutions are fighting against interdisciplinarity and cross-curricular competencies : the General Inspectorate in charge of the programs at the national level and some conservative and powerful teachers' unions, controlling the recruitment of teachers also at a national and regional level.
OECD Symposium on Financial Education
November 4th-6th

+
Ways of overcoming these barriers
To enable students to develop an awareness of, have autonomy , the ability to make choices and take personal responsibility for their financial future and so discover their own motivations and potential - we have to involve companies in the daily life of the schools.
In the school of the 21st century, we have to enable teachers to work with assistants and external partners, thus practising teamwork with European institutions, research institutes, universities, science centres, companies , associations involved in science, arts, financial education, ...
We should take some successful and inspiring practices in Europe into account, mostly introduced by a public-private partnership – Foundation - initiating change at school.
OUR PROPOSAL :
USE of the 3 weekly hours at the disposal of the municipalities
 to organize activities developing “soft skills” such as communication, teamwork, decision-making, organizational skills and self-confidence
through scientific experimentations, coding, financial and entrepreneurial education and the practice of English for all French children between 5 and 12 years.
OECD Symposium on Financial Education
November 4th-6th

FRANCE
LA FINANCE POUR TOUS
contact@lafinancepourtous.com

contact@lafinancepourtous.com – 01 44 50 00 80
Our most innovative and effective education initiatives Acting through large banks and financial institutions
Books diffusion (120 000 copies)
Dedicated trainings for clients and/or employees (35 000 trainees) Educating pupils and students with specifics courses and pedagogic tools

contact@lafinancepourtous.com – 01 44 50 00 80
« lafinancepourtous.com » dedicated to financial education
 Website created in 2007
 3 million plugs /year
 over 5 000 articles published
 130 training programs, …
Specific education section
QUIZ
Thomas Piketty

FRANCE
PLANETFINANCE
Mr Marin de Viry
mviry@planetfinance.org
www.planetfinance.org

PlaNet Finance’s approach to financial education
75
PlaNet Finance has an approach centered on durable social development through programs which involve microfinance, education, health, environmental protection and support for agricultural value chains.
Our approach to financial education
Financial education provides individuals with the knowledge, skills and attitudes required to adopt good money management practices.
It plays a critical role in helping people manage and preserve their resources while working towards their financial goals.
Financial education benefits both low-income customers and financial institutions.
THE INITIATIVE FOR EMBEDDED FINANCIAL EDUCATION (IEFE): Our approach aims to help institutions to embed financial education services seamlessly into their existing operations, to ensure ongoing implementation at low running costs. The embedded approach is centred on understanding both customers’ needs and the financial institutions’ objectives. By pin-pointing interactions with clients along the business process and turning these into teachable moments, the methodology helps inclusive financial institutions to integrate financial education services into their value proposition. This approach leverages the customer interest in a financial product into a teachable moment when there is a higher level of receptiveness to an educational message.
•E.g. educational short films shown in branches
Marketing
•E.g. budgeting handbook
•E.g. in-branch training sessions
Credit evaluation
•E.g. educational cartoon series
•E.g. educational SMS campaigns
Monitoring
Our approach
Outcomes

Lessons learnt from financial education projects in South Africa
76
In designing many financial education programs using the embedded approach IEFE, PlaNet Finance has learnt extensive lessons that are beneficial to future projects.
IEFE - Hollard Insurance
IEFE - SaveAct
Aim: Provide insurance-related education highlighting benefits, providing details on operating, and explaining how insurance applies to consumer lives through a mobile learning solution Beneficiaries: 1,850 clients have received messages on their insurance policies The step forward: Implement client-triggered learning
Aim: Develop financial education programs targeting rural and peri-urban low-income women that were members of the SCG*
Beneficiaries: 3075 SCG members have attended to Financial Education sessions
The step forward: SaveAct and PF are aiming at scaling SaveAct’s ‘stepped approach’ up in other provinces in SA and in Zambia
* Savings and Credit Group
Lessons learnt
Ensure the strong involvement of the staff in developing the content and materials of financial trainings
1
Make realistic expectations of staff competences as facilitators given their core role, responsibilities, and past experience
2
Implement regular and repetitive touch- points as it offers the best opportunity to educate clients
3
Provide incentives and rewards for staff and customers to enhance the impact and success of the program.
4
Use very straightforward educational messages and make use of limited time
5

GUATEMALA
ASOCIACIÓN PARA EL
DESARROLLO INTEGRAL
GUATEMALTECO (ADIG)
www.adig.org.gt

NETHERLANDS
AFLATOUN
Mr Rediet Abiy
rediet@aflatoun.org

Innovations on Financial Education
81
•Combining social and financial education and showcase how one makes the other stronger
•Developing social and financial education curricula for all life stages (Pre-primary(3-6 years), primary(6-14), secondary(14-19 years) and curriculum for non-formal education. https://www.youtube.com/watch?v=3RbCtAytH-Q (One minute Video)
•Developing financial literacy lessons while taking into consideration the needs in improving quality of education through active learning methods and experience based reflections https://www.youtube.com/watch?v=318esP3QLHU (One minute video)

Innovations on Financial Education
82
•Integrating financial literacy in other educational interventions (reproductive health, psychosocial development, Agriculture, peace building etc) because it emphasizes how life skills are complex and inter-related
•Delivery of Financial Education in juvenile detention centers
• Going beyond cognitive and ‘nudging’ young people to really practice the savings habit
•E-learning for Youth on Financial Education https://www.youtube.com/watch?v=jN6SI-tXb2g (One minute video)

UNITED KINGDOM
CITIZENS ADVICE
www.financialskillsforlife.org.uk

Citizens Advice
Money skills ‘champions’ project
Citizens Advice combined its financial education expertise with the experience of leading youth organisations to deliver this Barclays funded project in the UK between 2011 and 2014.
The project increased the financial awareness of 16-24 year olds, particularly NEET (not in Education, Employment, or Training) young people, through an innovative peer education model.
Young people were trained as 'champions' improving their financial knowledge and capability, and equipping them with the skills to share this information with their peers.
basam.diablos@citizensadvice.org.uk

Citizens Advice
Money skills ‘champions’ project
With the proposed cuts and changes to benefits, I believe there will be even more people who need help from CAB in the future.
5,200 young people trained as ‘champions’.
120,000 young people reached in total through peer education.
76% of 'champions' said they were now saving at least £5 per month, compared to 24% before the programme.
120 Citizens Advice Bureaux involved in training the ‘champions’ using their existing financial education skills to extend their services to young people.
basam.diablos@citizensadvice.org.uk

SPAIN
INSTITUT D'ESTUDIS
FINANCERS
www.educacionfinanciera.com
info@iefweb.org

Financial Literacy in the Schools of Catalonia (EFEC)
EFEC PROGRAM (Since 2012)
-Public-Private Partnership
Between IEF, the Regional Government and six financial institutions
-Corporative Volunteer Program under EFEC label
Volunteers from financial sector teach financial literacy to students in the final academic year.
- Five different workshops
- Previous training by IEF
- Workshops based in PISA assessments.
Whole Catalan territory
www.educacionfinanciera.com info@iefweb.org
EFEC 3rd Edition 2014/2015
300 schools
Over 19.000 students
3.600 workshops
600 volunteers

Financial institutions
Department of Education
Volunteers
Schools
Prepare dissemination
elements to attract volunteers
Prepare dissemination
elements to attract schools
Spread the project and request participation of public schools
Explain the project to
private schools
Volunteers trained by IEF in pedagogical skills and contents of the
5 different workshops (4h)
Workshops
Volunteers select workshops scheduled by the schools. The training is always under EFEC project label.
IEF manages all logistic issues to ensure the development of the workshops
Poll
Schools schedule dates and times of the workshop
Volunteers respond to satisfaction surveys
Schools and students respond to satisfaction surveys
Final project event
At the end of the project recognizes volunteers and schools participation in a public event.
Spread the project and requested participation of volunteers
Financial Literacy in the Schools of Catalonia (EFEC)
www.educacionfinanciera.com info@iefweb.org

UNITED STATES
THE SMITH COLLEGE
CENTER FOR
WOMEN AND FINANCIAL
INDEPENDENCE
www.smith.edu/wfi

The Smith College Center for Women and Financial Independence www.smith.edu/wfi
Increasing Financial Literacy through…
Non-Credit Courses
Online Global Outreach – online course on Financing Life by Prof. Randy Bartlett
www.smith.edu/wfi/online_course.php
Lunch & Learn - offered to Smith students, faculty, staff, and the larger community
Financing Life by Prof. Randy Bartlett
Principles of Investing by Prof. Roger Kaufman
Hands on Experience and Workshops
Dollars and $ense – college money management for all incoming students
From Backpack to Briefcase – personal finance boot camp for graduating seniors transitioning from college to the real world
saving, home buying, retirement planning
“How Do I?” Speaker Series
Taught by leading industry professionals
Topics Include:
Budgeting, Saving, Taxes, Insurance, Retirement, Financial Planning
Stocks , Bonds, Mutual Funds, Index Funds, and Portfolio Diversification
Investment Club
Student-run organization with about a $200,000 endowment
Peer Outreach Program
Students teach personal financial management and skills to local middle schools, high schools and teenage mothers

Global Financial Institutions Concentration www.smith.edu/gfic
Intro. to Global Financial Markets
Lecture series taught by faculty, industry professionals, and leading scholars in the field
5 Courses
Math, statistics, and finance
2 Internships
In financial institutions
1 Workshop
Excel
Entrepreneurship Program
Educating women on…
preparing business plans, fundraising for self-employment, and receiving venture capital
2 J-Term Courses
Intro. to Entrepreneurship, Entrepreneurship & Innovation
Annual Draper Collegiate Women Entrepreneurs Competition
compete for prizes and enter incubators to develop their business
Public Lectures to Increase Awareness
Director of the Center speaks on the need for providing financial education and improving the degree of financial literacy among women to Smith College alumni and the public
Research and Presentation on Financial Literacy
Disseminating research results on financial knowledge, financial attitude, retirement planning and saving, and financial behavior of educated women
The Smith College Center for Women and Financial Independence www.smith.edu/wfi

WSBI-ESBG
Ms Laura Gutiérrez
laura.gutierrez@wsbi-esbg.org

WSBI and ESBG
By fostering real-life enjoyable financial
experiences and thereby enhancing
such skills, Europe’s savings and
retail banks emphasize the importance
of acting responsibly with due consideration
to the general interest and to
other people.”
Chris De Noose
(Managing Director, WSBI-ESBG)

WSBI and ESBG
What is the European Stock Market Learning Initiative?
•European initiative to enforce literacy of young people in business and financial affairs through an online simulation of financial investments;
•National and cross-border competition for teams of pupils (15 and older) and students run by European savings and retail banks;
•Launched in 1983 in Germany and since 1999 joined by further ESBG members, so that currently five countries participate;
•Since 1983 about 7.5 million pupils and students have participated in the annual stock market simulation with more than 45,000 teams per year; Laura Gutiérrez: laura.gutierrez@wsbi-esbg.org

UNITED KINGDOM
MYBNK

Specific – specialist dedicated trainers
Unique – embracing creative & new teaching methods
Participatory – learning by doing
Effective – to meet the needs of a range of young people
Relevant - bringing money to life for young people
We live, SUPER

We get young people running their own banks, saving their money and building their own businesses.
“One of the most memorable and unforgettable learning experiences I have ever had”. 16- year-old Monet Twist participant.

TURKEY
VISA EUROPE
www.paramiyonetebiliyorum.net

I Can Manage my Money
Launched in 2009
Total volunteers: 500+
Total reach: 760,000 young people
Financial education programme targeting to raise the financial literacy level of young people aged 15 to 30
The project is implemented in 72 cities accross Turkey
@paraniyonet
paramiyonetebiliyorum

• Sectoral initiatives work better than individual ones Visa Europe’s member banks in Turkey came together and join their forces for a social cause
• Strong and dedicated partnerships perform It works best when the state, international organisations, NGOs and the private sector join forces
• Peer to peer education model works Creating a familiar environment where young trainees feel much more at ease to participate and ask questions
• Social media increases engagement Social media is the perfect tool to reach the young generation and is an ideal platform where they can easily discuss and share their opinions
• Segmentation works A single training content may not fit all – training curriculum should address the needs of different age groups
Learnings and differentiating points
@paraniyonet
paramiyonetebiliyorum

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COMPILATION Volunteers Interactive Session - 2014 Symposium to Advance Financial Literacy