Feb 21, 2014

Financial literacy month within the framework of “World Savings Day” has ended

On October 31, 2013 there was held opening press-conference of “Worlds Savings Day” and month of “Financial Literacy” has been held in Azerbaijan with an organizational support of Central Bank of Azerbaijan, Azerbaijan Bank Association, SBFIC, Azerbaijan Deposit Insurance Fund and several commercial banks: Accessbank, AGbank, Bank of Baku, Bank of Republic, Demirbank, Pashabank, UniBank, Rabitebank, and Yapı Kredi Bank.

The purpose of holding “Financial Literacy” month in such a large scale is increasing the trust of the public to the banks trough financial knowledge. The target group of this year’s “WSD” will be the school children and younger families.

Within the Financial Literacy month targeted to high school students bank employees and organizers visited 38 high schools in Baku and regions, and held trainings for 3000 high school students on banking, finance and economy.

Furthermore, the Brain-ring intellectual game was held with the involvement of 22 high school teams in Mingachevir, in-depth information delivered on banking products, and educational materials distributed on the occasion of the International Savings Day.

The Financial Literacy month covered over 10.000 high school students all over the country. The students were provided with the Student’s Personal Budgeting Manual, various brochures addressing banking – financial activities, economic games, T-shirts with the ISD symbol, caps, bags, note-books, pens and various gifts.

Over 25 bank branches – participants of the Financial Literacy month – in Baku and regions held Open Days, through which they met with the broad public, students and young families. During these events they detailed customers on the banking sector, loans, budgeting and similar issues, responded to their questions and presented various manuals and brochures.

Note that the celebration of the International Savings Day was initiated in Azerbaijan by the Central Bank in 2012.