Visits to Central Banks and Government
Organising youth visits to central banks, parliaments, and government departments, e.g. the Ministry of Finance or the Ministry of Education, and including them in activities such as participatory budgeting, fosters understanding of how policies are made, and the impact these decisions have.
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EXAMPLE GMW2018 was launched in the Congress of the Republic, emphasising the importance of enhancing saving culture through financial education. During the ceremony, a student and a teacher gave a speech on how financial education helped them reach their saving goals.
EXAMPLE High-level discussions and other educational sessions were organised by the Ministry of Social Affairs and the Higher Council for Childhood with the support of the FAO. Entreprenergy, CSR Al Ahli Holding Group, and ESA Business School organised a Social Entrepreneurship Summit, an event to enhance the discourse around social entrepreneurship and to foster creativity and increase engagement to combat challenges in local communities. The summit was supported by His Excellency Minister of Youth and Sports and in collaboration with the Ministry of Social Affairs. Throughout the Week, young people participated in competitions and university students attended an “Innovation Camp”, a one-day entrepreneurship workshop during which teams developed their ideas to pitch to a jury panel including high-level representatives. This event was organised by Fransabank and implemented by INJAZ Association.
EXAMPLE During GMW, the Ministry of Education organised teacher training sessions to ensure that the teachers understood financial and economic concepts and could pass this knowledge on to their students. GMW has garnered notoriety in Guatemala largely due to the presence of Jafeth Cabrera, Vice President of Guatemala, at the festival.
EXAMPLE During GMW in Kyrgyzstan, representatives of governmental institutions, NGOs, international organisations in the Kyrgyz Republic, and financial institutes managed to interest to young people in financial planning, savings and services, by providing entertaining lectures and organising fun activities. Children visited the Ministry of Finance and the Agency on the protection of Deposits, among other organisations, and therefore, could see the inner operations of these institutions for themselves.
EXAMPLE One of the highlights of the Week in Swaziland was a financial literacy awareness session offered to children and youth, where 84 primary school children and tertiary institution students received a lecture on the role of the Central Bank. After the lecture on the role of the Central Bank as a regulator, 16 primary school children and five ter-tiary students presented essays before the Governor of the Central Bank, Chief Executive Officers of Financial Institutions and Ministry of Education Officers on why it is important for children and young people to start saving from an early age. The students also recommended strategies to enable children and young people to save. The first prize for the primary category was won by Vulamasango Primary School, and the prize for the Tertiary Category was won by the Ngwane Park Youth Skills Training Centre.
EXAMPLE During GMW2017, APPEC-Education, a professional association which deals with financial education and youth entrepreneurship issues, in collaboration with the Central Bank of Congo and other partners, organised several activities, (including a visit to the National Parliament of the Democratic Republic of Congo), ultimately reaching 34.800 young people and children. Young people had the opportunity to discuss matters related to the budget with the deputies, most notably the leaders of the Committee of Economy and Finance. In March, the new parliament in DRC opened to mainly deal with budget related manners.
EXAMPLE GMW2016 in the Republic of Croatia was coordinated by the Ministry of Finance and involved many other stakeholders from the governmental and financial sectors, including the Ministry of Economy, the Ministry of Science, Education and Sports, the Croatian National Bank and other organisations. Celebration of the Week started with the traditional roundtable discussion on 14 March, organised by the Ministry of Finance and Ministry of Science, Education and Sport under the title “Financial Literacy and Youth.” The main objective of GMW was to encourage the activities and systematic education of citizens, especially youth, in the field of financial literacy. During Global Money Week, a number of activities were organised including round tables, student visits to governmental and financial institutions, student debates, presentations and more.
EXAMPLE Global Money Week activities were wrapped up by taking out school students to the Central Bank of the UAE. The first hour comprised of a talk organised by the Central Bank which explained the role and importance of the bank. Followed by a visit around the bank and to the money museum. At the end, the hosts at central bank had organised a fun quiz for the students, and winners were given small trinkets to remember their visit.
EXAMPLE Peer educators who were awarded the 2013 Child and Youth Finance Award presented their youth budget to the Botswana Parliament. Secondary school students were divided into groups to discuss the Botswana 2014/2015 budget speech which was delivered by the Minister of Finance and Development planning Honorable Kenneth O. Mathambo on the 3rd February 2014. The students came up with their own input into the budget speech and compiled a report to be submitted to the Minister. EXAMPLE The Central Bank of Mongolia took the lead in organising Global Money Week events with the NGO Development Solutions (DS) as a facilitator. DS organised visits to the Money Museum at the Central Bank, visits to the Stock Exchange Market and to the National Life Insurance. To date, Mongolian school children have had finance trainings, but never expected to visit the Central Bank and Stock Exchange Market, where only adults have access. During the Global Money Week, they had a chance to learn about the monetary systems, the history of money and stock exchange market as well as to identify their future careers. A 16-year-old student said that she would study very well to become the President of the Central Bank in future; another student, that he would begin trading in the stock market as soon as possible.
EXAMPLE The Central Bank of the Dominican Republic, through its project “Aula Central” for economic and financial education celebrated the Global Money Week with the participation of 300 volunteers and 1000 children and youth from public and private schools in the country. The welcoming remarks were made by the Director of the Communications Department of the Central Bank, Luis Martin Gomez, representing the Governor Hector Valdez Albizu, who stated the importance of economic and financial education to society, especially for children and youth. During the activity, participants attended lessons on inflation, the payments system and bank notes in the Dominican Republic, and ended with a tour of the Money Museum of the Central Bank. In addition, they received books on inflation and a collection on childhood financial education to enlighten young people on issues relating to the economy. |