2019 Timor-Leste Global Money Week
LEADING ORGANISATIONS:
- Banco Central de Timor-Leste
- MOVE Timor-Leste
PARTICIPATING ORGANISATIONS:
- 16 Schools, BNCTL, BNU Timor, Knua Juventude Fila Liman (KJFL), Ministry of Education, National Training Institution of Teachers, Orfanato de Bidau (Orphanage of Bidau), PT. Bank Mandiri, Persero, Tbk, PT. Bank Rakyat Indonesia, Persero, Tbk, Universidade Nacional de Timor Lorosae (UNTL) (National university of East Timor)
NUMBER OF CHILDREN REACHED DIRECTLY:
- 2 394
NUMBER OF PEOPLE REACHED INDIRECTLY:
- 7 084
Banco Central de Timor-Leste
Banco Central de Timor-Leste (BCTL) celebrated GMW2019 with the theme “Save now for a Better Future”. The Week started with a national workshop co-hosted by Banco Central de Timor-Leste (BCTL), Ministry of Education, Youth, and Sports, and INFORDEPE. It was attended by the Director of Education and directors of 39 elementary schools. The schools participated in a pilot financial literacy programme conducted in 12 municipalities. The objective of this programme was to evaluate its implementation from the year 2016 till 2018. At the end of this Summit, it was decided to continue the financial literacy programme in schools. Throughout the Week various other activities were organised. A visit was planned for students of elementary school to BCTL and commercial banks. The objective was to introduce the children to money, children’s saving account, and to familiarize them to the products and services offered by commercial bank.
MOVE Timor-Leste
For GMW2019, Move Timor-Leste organised 4 different events throughout the Week. The first event was aimed at teaching children the value of money. The organisation created a small supermarket where children were invited to shop with real money, so they learnt how much money is needed to buy essential products. Additionally, children were invited to build their own piggy banks, with the aim of teaching them the importance of saving for a better future. The second activity was a conference on topics related to fundraising and money management. Some topics, which were discussed included costs, revenues, profits, underperformance and crowdfunding. All topics were presented in relation to Timor-Leste’s economy. The third activity involved a business case resolution, where children had to discuss real life problems, such as budgeting costs or long-term saving matters. The goal was to teach them about production costs and time-value of money. For the last activity, entrepreneurs were taught about different account-recording methods. They were asked to fill out a notebook on a daily basis, with information on the product sold, the quantity, prices and the total revenue.
2018 Timor-Leste Global Money Week
LEADING ORGANISATIONS:
- MOVE (Associação de Microcrédito e Empreendedorismo)
PARTICIPATING ORGANISATIONS:
- Knua Juventude Filan-Liman
- National University of Timor-Leste
NUMBER OF CHILDREN REACHED DIRECTLY:
- 65
NUMBER OF PEOPLE REACHED INDIRECTLY:
- 130
MOVE (Associação de Microcrédito e Empreendedorismo)
Throughout Global Money Week 2018, the Portuguese NGO MOVE, along with their Timorese partners reached 40 children and youth through visits to financial institutions, including Banco Central de Timor-Leste and BNU. During the Week, financial literacy awareness sessions were offered to children, youth, and adults on budget management, credit, and savings awareness and management. High-level discussions, seminars and other educational sessions, such as games for the younger children were organised to promote awareness about the functioning and importance of financial institutions and good individual budget management.
2017 Timor Leste Global Money Week
LEADING ORGANISATIONS:
PARTICIPATING ORGANISATION:
NUMBER OF CHILDREN REACHED DIRECTLY:
- 200
NUMBER OF CHILDREN REACHED INDIRECTLY:
- 600
East-Timor is a small country in Southeast Asia, and is the youngest country in Asia – being independent only since 2002. During Global Money Week, the NGO MOVE promoted several activities with children, teenagers and young entrepreneurs, aiming to increase financial literacy awareness in the future leaders of the country.
In the beginning of the week, MOVE promoted a session on financial literacy, with the children of a local neighborhood, to increase awareness of the importance of saving in a very practical and enthusiastic way. In this session, the attendees also participated in the money box challenge by creatively making piggy banks out of bottles.
MOVE also promoted the subject with the students of the local university, mainly the ones who participate in the “entrepreneurship club”. These students had sessions on financial literacy and were challenged to collaborate in the organisation of big event with national speakers.
Moreover, during the week, MOVE interviewed people on the streets in the local language – Tetum – to be able to better understand the levels of financial literacy of the population. These interview results were the used to make further promotional videos that are relevant to the level of financial literacy of people in East Timor.
At the close of the week, a commemorative event was hosted at the University of East Timor, where all the students and staff of the university, as well as main local partners, were invited to attend. The event included presentations by several speakers from local institutions and businesses, each of them sharing their experience and focusing on a different subject of financial literacy. In this way, student engagement on these initiatives were able to create a domino effect by sharing and spreading the word about the fun and learning they gained during the week.
2016 East Timor Money Week
LEADING ORGANISATION:
PARTICIPATING ORGANISATION:
DATE OF THE EVENT:
- 14th - 18th of March
TOTAL NUMBER OF CHILDREN AND YOUTH ENGAGED:
- 260
TOTAL INDIRECT REACHED:
- 204
For the first time, Global Money Week was celebrated in East Timor (or Timor-Leste) this year. ChildFund Timor-Leste took the lead in coordinating child social and financial education sessions and a Youth Talk / Skype Call. ChildFund Timor-Leste coordinated this through Aflatoun clubs in 4 schools in two districts (Liquica and Covalima).
In line with the Aflatoun programme, ChildFund Timor-Leste has delivered quality child social and financial education for young people and have established Aflatoun clubs. The Aflatoun clubs help maintain the motivation of students to build their financial capability and save through coin boxes – or some to even open their own bank account.
The students also participated through a skype call or Youth Talk with children from the Philippines where they were able to talk about their experiences learning about social and financial education, the importance of saving, and connecting with children from another country. The clubs from Liquica are from Vatunaua and Laclolema Elementary Schools have a total of 60 active children – nevertheless, these children that participate in the clubs also have followers and other children who they provide information and experiences. The children also brought with them their coin banks.
Impressively, 4 of the children who carried their coin banks have shifted to saving their money through a bank.