Azerbaijan

2024 Azerbaijan Global Money Week

GMW NATIONAL COORDINATOR:

  • The Central Bank of Azerbaijan Republic (CBAR)

PARTICIPATING ORGANISATIONS:

  • Visa Azerbaijan

TOTAL NUMBER OF PARTICIPATING ORGANISATIONS:

  • 2

NUMBER OF CHILDREN AND YOUNG PEOPLE REACHED DIRECTLY:

  • 62

NUMBER OF PEOPLE REACHED INDIRECTLY:

  • 500

In cooperation with VISA International, the CBAR organised a course on banking and digital payments for the Global Money Week. The course was presented on the Virtual Education Platform created by the Central Bank for secondary school students (https://edu.e-cbar.az/). The main target group was composed of secondary school students. The course also included a competition for students with a certificate for completing the “children and money” online course. The “children and money” course provides basic financial literacy knowledge to secondary school students. Online participation allowed students from most rural villages the opportunity to participate online and compete.


2023 Azerbaijan Global Money Week

GMW NATIONAL COORDINATOR:

  • The Central Bank of Azerbaijan Republic

PARTICIPATING ORGANISATIONS:

  • VISA; Secondary Schools

TOTAL NUMBER OF PARTICIPATING ORGANISATIONS:

  • 110

NUMBER OF CHILDREN AND YOUNG PEOPLE REACHED DIRECTLY:

  • 1533

NUMBER OF ADULTS REACHED DIRECTLY:

  • 5000

NUMBER OF PEOPLE REACHED INDIRECTLY:

  • 8000

Throughout Global Money Week 2023, the Central Bank of Azerbaijan Republic (CBAR) organised the Financial Literacy Competition among teachers and students. In total, over 5000 children used Virtual Education Platform and some 1500 of them completed the course and participated in final exams, conducted online and in schools. Thoughout the financial literacy campaign, the Financial Education Division of the Central Bank of Azerbaijan Republic reached 33 regions of the country, including most rural regions and villages. Students from 110 schools participated in the GMW. The CBAR staff either travelled to regions or took online exams to certify knowledge of students. Along with students, 10000 adults, including parents, teachers received financial knowledge.


2022 Azerbaijan Global Money Week

GMW NATIONAL COORDINATOR:

  • Central Bank of Azerbaijan Republic

PARTICIPATING ORGANISATIONS:

  • Ministry of Education, 90 schools

TOTAL NUMBER OF PARTICIPATING ORGANISATIONS:

  • 90

NUMBER OF CHILDREN AND YOUNG PEOPLE REACHED DIRECTLY:

  • 12,900

NUMBER OF ADULTS REACHED DIRECTLY:

  • 2,900

NUMBER OF PEOPLE REACHED INDIRECTLY:

  • Not reported

Throughout Global Money Week 2022, the Central Bank of Azerbaijan Republic (CBAR) along with partners reached 10,000 children and youth through several digital and offline activities. CBAR introduced two online courses “Kids and Money” and “Financial Literacy: Strategy, Analysis and Teaching”. Around 10,000 schoolchildren and 2,900 teachers showed their interest in these courses. Two competitions were also launched, one for students and one for teachers.

During “Kids and Money” course the following topics were discussed: the purpose of money creation, security features of national banknotes of Azerbaijan Republic, how to spend money in more useful way, how to achieve our dreams, how to manage our money, how to protect our money from "traps", how can we increase our money, how can we learn to "run" for our money, how can we make money, how does money protect us, how can we take care of our future, how to borrow money. Each of 12 topics covered in the course included a quiz to test students’ knowledge.

Since courses were in video format, most rural areas of the country could also be reached. Financial literacy staff visited schools in different regions to collect exams from students who could not visit CBAR to take tests in person.

In total 1,100 students applied online on the education platform of CBAR (https://edu.e-cbar.az) to take the final exam. Only students who listened all 12 topics and completed quizzes were allowed to apply for the final test. Some 940 students took the offline exam, 80 students participated online. Each of these students received gifts, leaflets and storybooks about financial literacy. 430 students passed the course with the results of 70% and above. Closing ceremony consisted of awards ceremony, which was held in second-biggest city Sumgait on May 18, and in Baku on May 20. Winners received certificates and gifts.

The second competition were dedicated to teachers. The competition aimed to increase popularity of “Financial Literacy: Strategy, Analysis and Teaching” course. Course focused on strategy, methodologies to teach financial literacy to students in different age groups. Around 2,900 teachers showed their interest in the course, 130 of them completed all 12 topics with quizzes and therefore eligible to apply at CBAR to take final exam and 26 of the teachers were recognised with outstanding results.


2021 Azerbaijan Global Money Week

GMW NATIONAL COORDINATOR:

  • Central Bank of Azerbaijan Republic

PARTICIPATING ORGANISATIONS:

  • Secondary schools, art centres, creative schools, youth development centres, and others

TOTAL NUMBER OF PARTICIPATING ORGANISATIONS:

  • 500

NUMBER OF CHILDREN AND YOUNG PEOPLE REACHED DIRECTLY:

  • 780

NUMBER OF ADULTS REACHED DIRECTLY:

  • Not reported

NUMBER OF PEOPLE REACHED INDIRECTLY:

  • 780

The Azerbaijani Government announced 2021 as a year of the poet Nizami Ganjavi. The Central Bank of Azerbaijan Republic (CBAR) used Nizami Ganjavi concept for Global Money Week. The purpose of this year’s campaign was to increase financial literacy knowledge and skills of students by acquainting them with the ideas of critics of wastefulness, value for money, saving and saving habits in Nizami Ganjavi's poems.

A painting and essay writing competition was held during GMW. A special website was created for this purpose here, to include helpful information about the terms and conditions of contest and Nizami Ganjavi’s verses from “Khamsa” regarding debt, wastefulness, value for money, saving and saving habits.

The painting competition was held for students between the ages of 7-14. Around 450 youth in 400 schools from all over the country mailed their paintings to the Central Bank of the Azerbaijan Republic. The essay competition was organised for students between the ages of 12-14. Around 330 participating schoolchildren emailed their essays to the CBAR.

Both competitions selected winners of the first, second and third place. Due to overwhelming number of participants, the announcement of winners was postponed to May, 7th. The winners will receive prizes and certificates. The top ten finalists of both painting and essay writing contest will be invited to take part in the central banking seminars prepared for them by the experts from the Central Bank. The workshops will be held virtually or physically, depending on the circumstances related to COVID-19. Additionally, small groups from all participants have the opportunity to join financial literacy seminars in 2021.


2019 Azerbaijan Global Money Week

LEADING ORGANISATIONS:

  • Central Bank of the Republic of Azerbaijan

PARTICIPATING ORGANISATIONS:

  • Azerbaijan Banks Association, Central Bank of the Republic of Azerbaijan, Savings Banks Foundation for International Cooperation

NUMBER OF CHILDREN REACHED DIRECTLY:

  • 500

NUMBER OF PEOPLE REACHED INDIRECTLY:

  • Not reported

Central Bank of the Republic of Azerbaijan
To celebrate both Global Money Week and European Money Week, the Central Bank of the Republic of Azerbaijan joined the European Money Quiz for schoolchildren aged 13-15. Prior to the participation in the Quiz, the Bank offered training sessions to the children, focusing on various elements of financial education and financial inclusion, such as savings, inflation, and credits.


2018 Azerbaijan Global Money Week

LEADING ORGANISATIONS:

  • Central Bank of the Republic of Azerbaijan

PARTICIPATING ORGANISATIONS:

  • ASAN Service (part of the State Agency on Public Services and Social Innovations under the President of the Republic of Azerbaijan), Azerbaijan State University of Economics, International Finance Corporation, 2 universities, 5 media organisations, 5 schools

NUMBER OF CHILDREN REACHED DIRECTLY:

  • 1 000

NUMBER OF PEOPLE REACHED INDIRECTLY:

  • 3 800

Central Bank of the Republic of Azerbaijan
During GMW2018, financial literacy awareness events and activities were organised to target children, youth, and adults across Azerbaijan. In partnership with the International Finance Corporation, the Central Bank announced a competition for young people aged between 18 and 25 titled "Digital Financial Services: Modern Trends and Challenges". The goal of the competition was to educate young people on the advantages and disadvantages of digital financial services. The Winners received certificates and prizes including a notebook, a tablet, and a smartphone. The Central Bank of Azerbaijan delivered a workshop for a group of students on national banknotes, the fight against money counterfeiting, the advantages of cashless payments, and national payment systems. Additionally, the students received information about financial literacy activities held in the country, and awareness resources such as the financial literacy portal (www.bizimpullar.az) and the virtual education platform (edu.cbar.az). The third event, "National Banknotes in the Kids’ World", was organised in the Central Bank for schoolchildren aged between 8 and 12. Children learnt about the history of money and monetary units to help them recognize national monetary units. Participating children presented poems, riddles, stories, paintings, handmade moneyboxes, and games, which they created during the event. Furthermore, the Central Bank experts demonstrated multiple ways to identify counterfeit money, followed by an excursion to the Treasury. At the end of the event, children received several gifts from the Central Bank. Last but not least, “Novruz Khonchasy” event was held at ASAN Service during the Week. The Central Bank promoted recognition of financial literacy as a public value among general population by distributing brochures, flyers, and providing in-depth information on cashless payments. People were particularly interested in e-resources and animations on bank products and services displayed on the Financial Literacy kiosk. Those joining the event received the Central Bank's literacy and promo materials and festive sweets. Throughout GMW, various animations about national currencies, online payment systems and e-banking were shared on the financial literacy Facebook page.


2017 Azerbaijan Global Money Week

LEADING ORGANISATIONS:

PARTICIPATING ORGANISATIONS:

NUMBER OF CHILDREN REACHED DIRECTLY:

  • 180

NUMBER OF CHILDREN REACHED INDIRECTLY:

  • 400

During the GMW 2017, financial literacy awareness sessions were offered to children in kindergartens and schools. The sessions included school visits, savings games, a competition-based workshop for university students named “Financial literacy: a road to the professional career”, a workshop for secondary school teachers who teach Life Skills, and a hashtag contest on the Facebook.

Children in kindergartens and secondary schools learnt about money and its history, its importance in our daily lives and how to effectively use pocket money and save for future needs. On the other hand, the “Savings” game was very popular among university students and aroused their interest throughout the country.

The competition-based workshops for university students “Financial literacy: a road to the professional career”, offered by CBAR, have become a tradition. Considering a huge interest of students, another round of trainings was offered this year together with financial institutions on board.

In addition, a hashtag contest was held on the Facebook account of the Financial literacy project. The competition was open to all Facebook users. Participants were asked to write a post about financial literacy with a #GMWAzerbaijan2017 hashtag. Authors of the most liked and creative posts were chosen as winners. The winners were awarded prizes at the Central Bank.

As in previous years, financial education workshops were organised for Life Skills teachers with the support of the Institute for Professional Development of Pedagogical Staff.

Last but not least, the Reliable Future Youth Public Union, an NGO based in Azerbaijan, an Aflatoun’s partner, organised 3 events during the Global Money Week in which parents and teachers participated too. They included workshops and group games. The goal of these events was to increase and improve participants’ knowledge and skills in financial literacy.


2016 Azerbaijan Global Money Week

LEADING ORGANISATIONS:

  • Central Bank
  • The Saving Banks Foundation for International Corporation

PARTICIPATING ORGANISATIONS:

  • Ministry of Education

DATE OF THE EVENT:

  • 14th - 20th of March

TOTAL NUMBER OF CHILDREN AND YOUTH ENGAGED:

  • 4 080

TOTAL INDIRECT REACHED:

  • 4000

During GMW2016 in Azerbaijan schools visited banks where students listened to presentations on the national coins and banknotes and their history, as well as interesting facts about the national currency. In addition, animations about the security features of each banknote were shown, followed by educational games based on these animations in which the winners were presented with awards.

Money-awareness was also garnered on the official Facebook page of the Financial Literacy project. Students could play a fill-word game about economic and financial concepts, and a banknote game about the security features of the national banknotes. In addition, students were able to take part in a week-long Q&A competition which was comprised of 10 questions related to the financial literacy. Every day, two questions were posted and the first respondent who posted the full correct answer was considered the winner. Finally, at the end of this jam-packed week, the winners of the various games and competitions were invited to the Central Bank and were presented with awards at an official Awards ceremony.

2015 Azerbaijan Global Money Week

PARTICIPANTS:

DATE OF THE EVENT:

  • 12th, 13th, 16th, and 17th of March

NUMBER OF CHILDREN REACHED:

  • 130

The Center for Research and Development of the Central Bank initiated Global Money Week 2015 for secondary school kids within the Financial Literacy project. As part of the GMW 2015 events the Central Bank invited a group of school children from Baku European Lyceum to visit the Treasury of the Central Bank. The children got themselves familiarized with the Treasury, its modern infrastructure, storage of cash, its transportation and processing processes. Moreover, the children attended a workshop where they were provided with more information on national currencies, the symbols imprinted in them and their security features.

Presentations named “Know your money” and “10 interesting facts on money” were held for school kids during visits from bank officials to schools. "Know your money", an interactive presentation, enabled kids to find out more about the symbols and pictures on each bank note, as well as  their security features. The other presentation called “10 interesting facts on money” provided kids with information on history of creation of money and interesting facts that schools kids need to know about coins and notes. At secondary school No. 160 children of upper secondary classes held discussions on role of money in modern society, savings, and investment, and they were shown interesting short films related to the discussed topics. At the end, kids who were active during the Q&A session were rewarded with gifts.

Fourth grade students of school No. 220 in Baku city had a teleconference with their peers from Jono Pauliaus gymnasium in Kaunas city, Lithuania. Students showed our national currency to their Lithuanian peers, explaining the meanings of symbols on national banknotes of various denominations. Students asked questions about daily pocket money, saving and spending, and introduced cashboxes to one another. Students of schools No. 31 and 26 in Sumgait city also spoke to their peers from  Stoyan Novakovich in the Blase city, Serbia via teleconference. First, students informed one another about their countries' national currencies, then Serbian students gave presentations about Serbian coins from the 12th - 20th centuries. At the end, Azerbaijani students shared messages about the rational use of money, functions of money, and saving with their peers. The language of the both teleconferences was English.

2014 Azerbaijan Global Money Week

PARTICIPANTS:

NUMBER OF CHILDREN REACHED:

  • 64

An art exhibition for school children was organised for Global Money Week by the Central Bank of Azerbaijan (CBAR), the Ministry of Education and the Reliable Future Youth Organisation. The exhibition featured paintings related to financial literacy by Azerbaijani youth. The event involved 64 school children from 26 secondary schools located in Baku, the capital city of Azerbaijan. The objective was to increase the financial literacy level of the children, to encourage effective and proper use of personal budgets by the younger generation, to develop money saving and spending skills, establish long-term planning incentives among the youth, allow them to discover their artistic and crafting abilities and to give broad publicity to the CBAR’s Financial Literacy Project as well.

A special event was dedicated to the announcement of competition results and awards at Park Boulevard Trade Center, Planetarium Hall. The main stakeholders such as relevant NGOs, Savings Banks Foundation for International Cooperation (SBFIC) were invited to the event and press releases were distributed to mass media representatives prior to the beginning of the exhibition. The event consisted of 3 parts. Firstly, representatives of the CBAR, Ministry of Education and Reliable Future Youth Organisation congratulated the participants, wished them success for the future and gave them savings tips. Apart from the winners, the active participants of the event were given diplomas and gifts. The winners of the first 3 places were given special gifts and diplomas from the CBAR. In the second part of the event, the guests and children viewed the artwork created for the exhibition. Lastly, the management of the Planetarium Hall organised a film-show for children and their parents.

This year’s event was such a success that Azerbaijan already has plans in place to include school students from the whole of the country to participate in this creative financial literacy event.

2013 Azerbaijan Global Money Week

NAME OF THE ORGANISING ENTITY:

  • Central Bank of the Republic of Azerbaijan

PARTNERS:

  • Aflatoun Child social and Finance Education

DATE OF THE EVENT:

  • 18th of March

PRESS:

  • Trend.az
  • Aflatoun blog piece
  • News.az

NUMBER OF CHILDREN REACHED:

  • 40

Fifteen students visited a bank for the first time during Global Money Week. During their visit of the Treasury of the Bank, they expressed surprise and wonder when they saw the Treasury full of money. On the 18th of March the attending students showcased the most interesting pictures they had created in the exhibition ‘‘Money and Banking‘‘. Representatives of the Central Bank, Pasha Bank, Sparkassenstiftung für internationale Kooperation (Savings Banks Foundation for International Cooperation), Reliable Future Youth Organisation, parents and teachers also took part in this event organised for children.

The event opened with a speech by the Deputy Director of the Development Department Central Bank of Azerbaijan Republic, Natavan Mammadova. Winners of the exhibition were awarded prizes during the ceremony. The day continued with a presentation by representatives of the Central Bank on the history of money, banking, banking structure of the world and the creation of the first monetary currency. After the presentation, the children were invited on a guided tour of the Central Bank and the Treasury that concluded with representatives of the Central Bank thanking the children for their participation and wishing them good luck in the future. This event demonstrated that children are interested in receiving a financial education. After the event, many children shared their preferred choice of profession in the future.

“Money is indispensable introduction of my future.”