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Financial education marches on

Financial education marches on

​Image: Young people in Belarus celebrate Global Money Week

​​​​​​​​​​​WSBI member Belarusbank holds 300 events with 34,000 participants, mostly through remote, video-based channels.​​​

>> Discover: Global Money Week | >> Global Money Week official site

>> Related: World Savings Day

>> Learn more about Belarusbank

BRUSSELS, 11 May 2020 – WSBI member Belarusbank took added steps this spring to help children and youths in Belarus take the right approach to money. The country's largest bank, Belarusbank once again celebrated Global Money Week from 23-29 March, but this time harnessing digital platforms like webinars and video-based lessons to boost its financial literacy campaign that raises awareness of children and young people on the power of personal finance. 

2020: A digital tack ​to Global Money Week

Originally postponed by organisers at global level due to coronavirus concerns, Belarusbank marched on, celebrating within the republic of  9.5 million by taking a distinctly digital tack. This year's topic, titled "Digital security of personal finances", provided focus on a pressing issues for people within the land-locked Eastern European country. It suffers from the highest number of financial malware attacks in the world, at 2.9%, compared with 0.1% for table leader Denmark. Belarus is the sixth worst country for cybersecurity on the planet, according to Comparitech ​tech industry research and information website.

Taking into account the Covid-19 pandemic sweeping over the globe, they used IT tools to hold more than 300 events, mostly in digital format. The bank deployed webinars, video lessons, among other channels to educate the young people. Some 34,000 pre-schoolers, schoolchildren and secondary students took part. Data show one quarter of Belarus' population fall under the age of 25. 

Bank staff play a big role in outreach efforts, with specialists of the bank's divisions situated throughout​ Belarus sharing with young people tips on behaviours like how to spend and save money wisely.  

Raising 'Money smart' kids matters

Belarusbank sees children need to form the right attitude towards money, just like learning how to function and behave in family and society settings. Young people matter​, shown by efforts of the bank's staff to focus on helping young people to realise their strengths, unlocking their ability to make financial plans and set goals to be reached. Emp​loyee efforts also place importance on overall financial literacy and to building trust in the banking sector and raising the overall level of financial education in th​e country.

Global Money Week: Half-way point to World Savings Day

Global Money Week (GMW), a CYFI initiative, is now organised by the OECD International Network on Financial Education (OECD/INFE)​.​ The weeklong event marks the half-year point before World Savings Day, which people fete on 31 October. The OECD and its International Network on Financial Education (INFE) support policymakers and public authorities to design and implement national strategies for financial education, individual financial education programmes, while also proposing innovative methods for enhancing financial literacy among the populations of partner countries. Read more here.

‘Learn.Save.Earn.’ is the official slogan of the Global Money Week (GMW). Initially used as the theme of GMW2017 and transformed into the Campaign’s slogan to convey GMW Campaign messages and support the goal of the week by empowering children and youth to not only learn to manage their money wisely, but to help them transfer their knowledge to their families and to entire communities. In addition, the slogan ‘Learn.Save.Earn.’ helps everyone to create a variety of events and activities around these topics that help children and youth to learn to manage money wisely, save for their futures, and earn for themselves and their families.

>> Discover: Global Money Week | >> Global Money Week official site

>> Related: World Savings Day

Financial education