Global Money Week

2016 Papua New Guinea Money Week

Leading Organizations:
Bank of Papua New Guinea

Participanting Organizations:
Bank South Pacific
Westpac Bank
ANZ Bank
PNG Microfinance Limited
Kada Poroman Microfinance Limited
Nationwide Microbank

Date of the event:
7th - 18th of March

Total number of children & youth engaged: 12 200
Total indirect reach: 10 000

Through its National Youth Savings Campaign, the Bank of Papua New Guinea coordinated a two-week long celebration to coincide with GMW, related to financial literacy education and financial inclusion of children and youth in Papua New Guinea. The Bank of Papua New Guinea focused its efforts on financial literacy and savings campaigns, and coordinated with participating financial institutions including Bank South Pacific, Westpac Bank, ANZ Bank, PNG Microfinance Limited, Kada Poroman Microfinance Limited and Nationwide Microbank.

A series of activities were organized and coordinated by the Bank of Papua New Guinea, namely financial education lectures and class sessions with children in primary school. The Bank of Papua New Guinea and participating banks directly reached 16 schools in total. Aside from teaching the students about the inner workings of the banking system and the importance of saving, the Central Bank also stressed the commitment of the government to building long-term financial capability of the country's population. As communicated and promoted by the Bank of Papua New Guinea, Global Money Week and its various initiatives for financial inclusion of young people and their parents, aim to empower the Papuan people to become more informed, confident, responsible and skilled at handling their finances and their futures.

In addition to the class lectures, two commercial banks (Westpac Bank and ANZ Bank) organized and invited children to visit their branches. In these visits, the children were introduced to what banking is, how they will be able to save through a bank, the banking products that kids and their parents could use, and more information on the importance of savings. Finally, the kids also received Global Money Week and CYFI brochures to highlight the importance of the event, as well as some basic financial education materials to further improve their financial literacy.

 

2015 Papua New Guinea Money Week

Participants:
Bank of Papua New Guinea
Bank South Pacific
Westpac Bank
ANZ Bank
PNG Microfinance Limited
Kada Poroman Microfinance Limited
Nationwide Microbank
Date of the event:
9th - 17th of March
Number of children reached:
500

For the second time, Global Money Week was celebrated in Papua New Guinea under the leadership and initiative of the Bank of Papua New Guinea (BPNG). The efforts of the Bank of Papua New Guinea and participating financial institutions in the country work to advance financial literacy and financial inclusion of youngsters within the country built on last year’s National Youth Savings Campaign. This year, these efforts continued under the same campaign and reached out to children and youth across Papua New Guinea.

Under the National Youth Savings Campaign, a series of activities, lectures, and events were hosted by the bank to promote and show the dedication of the government. These were conducted in partnership with commercial banks and microfinance institutions, to empower the young generation to become confident, responsible and skilled economic citizens.

The various activities organized during Global Money Week ranged from bank visits to seminars where representatives from the Central Bank, commercial banks, and microfinance institutions spoke about the importance of savings.

One of the most common trends this year was extension of these lessons, visits, and seminars with a visioning exercise. The kids set their goals and imagined what they could achieve if they start saving today, identified how they would be able to do it, and understood why they wanted to do it. This way, the kids participating in the program not only inculcated the saving habit, but they also developed an understanding of their own motivations and inspired them to be more aware of the future that they wanted to shape.

 

2014 Papua New Guinea Money Week

Participants:
Bank of Papua New Guinea
Kada Poroman Microfinance
ENB Savings & Loan Society
Bank South Pacific
Nationwide Microbank
Teachers Savings & Loan Society
ANZ Bank
Westpac Bank
PNG Microfinance
Date of the event:
10th - 14th of March
Number of children reached:
500
Additional children reached through media:
5 000

Bank of Papua New Guinea in partnership with banks and financial institutions organized Global Money Week for the first time this year. Activities were planned for 10th-14th March. Among the collaborating financial institutions were Kada Poroman Microfinance, ENB Savings & Loan Society, Bank South Pacific, Nationwide Microbank, Teachers Savings & Loan Society, ANZ Bank, Westpac Bank and PNG Microfinance.

On March 10th the Bank of Papua New Guinea’s Governor announced the start of Global Money Week. He explained how the government, in partnership with commercial banks and financial institutions, have dedicated the week to empower the young generation to be confident, responsible and skilled economic citizens.

The Bank of Papua New Guinea’s Governor also led a series of talks about the National Youth Savings Campaign and financial inclusion in general on NBC’s National Radio. He was joined by panel members comprising of managers and CEOs of commercial banks, Microbanks and Savings & Loan Societies. During these talks the panel members discussed various savings products offered by their institutions. 10 schools were visited during Global Money Week by PNG Microfinance and Nationwide Microbank. During the visits the bankers interacted with children and youth on the topics of financial literacy and financial inclusion.

Click an image for full size

Click an image for full size