2023 Luxembourg Global Money Week

PARTICIPATING ORGANISATIONS:

• ABBL Members, CSSF, primary schools, secondary schools

TOTAL NUMBER OF PARTICIPATING ORGANISATIONS:

• 5

NUMBER OF CHILDREN AND YOUNG PEOPLE REACHED DIRECTLY:

• 1228

NUMBER OF ADULTS REACHED DIRECTLY:

• 226

NUMBER OF PEOPLE REACHED INDIRECTLY:

• Not reported

2023 marked the 9th edition of Woch vun de Suen organised by the ABBL Foundation for financial education. The aim of the initiative is to raise awareness of good money management and responsible consumption among children in cycle 4 of the basic school (10 to 12 years old). 988 pupils from 69 primary schools participated and 74 teachers were involved this year. Pupils used the app "Money Odyssey" during the workshops. Furthermore, the national final of the European Money Quiz was held on 27 March 2023, during which 13 classes competed. The Foundation, in collaboration with the CSSF, organised a conference "The challenges of financial education in the 21st century". On this occasion, the results of a study on the financial knowledge, behaviour and attitudes of Luxembourgers were presented, as well as the new version of the national financial education strategy and some of the Foundation's initiatives, including the mobile application Money Odyssey.

2022 Luxembourg Global Money Week

PARTICIPATING ORGANISATIONS:

• ABBL Foundation for Financial Education, CSSF - Commission de Surveillance du Secteur Financier, ALFI - Association of the Luxembourg Fund Industry, BCEE - Banque et Caisse d‘Epargne de l‘État, BGL BNP Paribas, ING Luxembourg, Crédit Agricole Indosuez, Loyens Loeff, POST Luxembourg, Banque Raiffeisen, BIL - Banque internationale à Luxembourg, Allen & Overy, Arendt & Medernach, ATOZ Tax Advisers Luxembourg, BlackRock Fund Management Company, BNP Paribas Securities Services, succursale de Luxembourg, Bonn Steichen & Partners, Clearstream Banking, Clifford Chance, Degroof Petercam Asset Services, DWS Investment, DZ PRIVATBANK, FundRock Management Company, ICBC (Europe), J.P. Morgan Bank Luxembourg, KPMG Law Luxembourg, LRI Invest, Metrosoft, Mitsubishi UFJ Investor Services and Banking (Luxembourg), Northern Trust Global Services, Pictet & Cie (Europe), PricewaterhouseCoopers (Luxembourg), Sparinvest, State Street Bank International GmbH (Luxembourg Branch), The Bank of New York Mellon (Luxembourg Branch), Vontobel Asset Management, 57 schools

TOTAL NUMBER OF PARTICIPATING ORGANISATIONS:

• 36

NUMBER OF CHILDREN AND YOUNG PEOPLE REACHED DIRECTLY:

• 1,041

NUMBER OF ADULTS REACHED DIRECTLY:

• Not reported

NUMBER OF PEOPLE REACHED INDIRECTLY:

• Not reported

Since 2015 the Luxembourg Bankers‘ Association (ABBL) organises the “Woch vun de Suen.” The aim of the “Woch vun de Suen” is to teach public school students in ages 10-12 about money matters and responsible money management.

This initiative is supported by the Ministry of Education and is part of the European Money Week initiated by the European Banking Federation.

In 2022, the “Woch vun de Suen” was led by the ABBL Foundation for Financial Education in collaboration with ABBL members, the CSSF (Commission de Surveillance du Secteur Financier), ALFI (Association of the Luxembourg Fund Industry) and its members. All trainers were volunteers from those institutions.

The main activity was a board game called the Eurodeo de la Conso. Through this game, the trainers (1 or 2 per class) taught children playfully to better understand the value of money, the difference between wants and needs, responsible buying, manage money, saving for the future, what it means to have a bank account and how it works, and thus raise awareness of the importance of budget control. Also, an evaluation was made with the trainers to identify what has to be improved for the next year.

2021 Luxembourg Global Money Week

PARTICIPATING ORGANISATIONS:

• ABBL Foundation for Financial Education, ABBL members, the Ministry of Education, the Ministry of Consumer Protection, the Chamber of Commerce, ING Luxembourg

TOTAL NUMBER OF PARTICIPATING ORGANISATIONS:

• Not reported

NUMBER OF CHILDREN AND YOUNG PEOPLE REACHED DIRECTLY:

• Not reported

NUMBER OF ADULTS REACHED DIRECTLY:

• Not reported

NUMBER OF PEOPLE REACHED INDIRECTLY:

• Not reported

Each year, the Money Week – Woch vun de Suen is organised in Luxembourg. Similarly to GMW, it aims to teach children about money matters and responsible money management. Understanding the value of money, teaching them to manage money better and thus raise awareness of the importance of budget control for their future are the priorities of this project. The first training programme of 2021 dedicated to financial vulnerable people, the Zuumer Academy was launched during the Week. The Academy consists of different modules of 1.5 hours each, held over 10 days on topics such as savings, payments, budget management, understanding risk, and other. These have been specifically created to help the students to manage their personal finances with confidence and to understand their relationship with their bank. In addition, Luxembourg took part in the European Money Quiz and launched an awareness campaign on banking and digitalisation for elderly people. The Week was led by the ABBL Foundation for Financial Education in collaboration with ABBL members, the Ministry of Education, the Ministry of Consumer Protection, the Chamber of Commerce, and others. ING Luxembourg focused on teachers’ training on money matters.

2019 Luxembourg Global Money Week

LEADING ORGANISATIONS:

• The Luxembourg Bankers' Association (ABBL)

PARTICIPATING ORGANISATIONS:

• Chamber of Commerce, Childhood and Youth, European Banking Federation, The Ministry of National Education

NUMBER OF CHILDREN REACHED DIRECTLY:

• 1 100

NUMBER OF PEOPLE REACHED INDIRECTLY:

• Not reported

The Luxembourg Bankers' Association (ABBL)
Global Money Week and European Money Week are celebrated in Luxembourg in conjunction with the Luxembourg Money Week, titled “Woch vun de Suen”. This initiative aims to teach children in primary education the basic rules of responsible money management. Understanding the value of money, allows young people aged 10 to 12 to better manage their money and save, thus raising awareness of the importance of budget control for their future. The Association deems it essential to introduce financial literacy from an early age, in order to make children attentive to thoughtful and responsible consumption. Thanks to the commitment of the volunteers, the students were able to benefit from a playful two-hour animation. The initiatives were organised by the ABBL Foundation for Financial Education with the support of the Chamber of Commerce. The “Woch vun de Suen” has the support of the Ministry of National Education, Childhood and Youth.

2018 Luxembourg Global Money Week

LEADING ORGANISATIONS:

• Nucleus (Holdings) SCA

PARTICIPATING ORGANISATIONS:

• EFPA Europe
• FECIF
• Luxembourg Stock Exchange
• St Andrew School

NUMBER OF CHILDREN REACHED DIRECTLY:

• 70

NUMBER OF PEOPLE REACHED INDIRECTLY:

• 71

Nucleus (Holdings) SCA
70 students from the St Andrew International School of Luxembourg visited the Luxembourg Stock Exchange during GMW. The students participated in a tour of the Stock Exchange and watched a presentation of the activities that take place there.

2016 Luxembourg Global Money Week

LEADING ORGANISATIONS:

• The Luxembourg Banker’s Association

PARTICIPATING ORGANISATIONS:

• Bank Museum at Banque et Caisse d’Epargne de L’Etat(BCEE)
• Central Bank of Luxembourg

NUMBER OF CHILDREN REACHED DIRECTLY:

• 1 070

NUMBER OF CHILDREN REACHED INDIRECTLY:

• 1 070

In GMW 2016, the activities that took place in Luxembourg during the Week, designed for students of 11 years, included:

• Interventions in the classroom with a focus on a responsible purchasing behaviour. The courses were animated by volunteers in collaboration with teachers. The pedagogical material was represented by an educational workbook called “Impuls”, made by Inter-Actions through Service d’Information et de Conseil en matière de Surendettement (SICS).
• A game “Eurodéo” which was played in class. Eurodéo helped students to learn to distinguish between desires and needs and also to prioritize expenses in a budgeting overview.
• Visits to the Bank Museum at Banque et Caisse d’ Epargne de L’Etat (BCEE). During the visit to the Bank Museum, there was a small competition about the different topics shown during the visit, including a beautiful porcelain piggy bank as a prize. The visit was concluded with a picture of the group, which was sent to teachers.
• Visits to the Central Bank of Luxembourg. All together, 750 pupils participated in the “Woch vun de Suen”, and 320 visitors were welcomed at the Bank Museum at BCEE.