2017 Kyrgyzstan Global Money Week
- Leading Organizations:
- National Bank of Kyrgyz Republic
- Development Policy Institute
- Participating Organizations:
- Leading Organizations: National Bank of the Kyrgyz Republic
- Participating Organizations: Union of Banks of Kyrgyz Republic, Ministry of Finance of Kyrgyz Republic, State Agency for Youth Policy and Sports, Agency of Development Initiatives, University of Central Asia (UCA) Naryn, SOS Children’s Villages, Educational Initiatives Support Fund, Bishkek Academy of Finance and Economics and other educational institutions, German Society for International Cooperation (GIZ), International Finance Corporation (IFC), Finance Company “Senti”, Bai Tushum Bank, FINCA Bank, Optima Bank, Kyrgyz Investment Credit Bank and other financial institutions
- Date of the event: 14th - 20th of March
- Total number of children & youth engaged: 36 100
- Total indirect reach: 29 800
- Participants: National Bank of Kyrgyz Republic Ministry of Labour, Migration and Youth Ministry of Finance Department of Education of Bishkek city The State Service for Financial Market Regulation and Supervision of Kyrgyz Republic Deposit Protection Agency of Kyrgyz Republic Association of Microfinance Organizations of Kyrgyzstan Union of Banks of Kyrgyzstan Development Policy Institute FINCA Bank Kyrgyzstan Aiyl Bank Bai Tushum Bank Kyrgyz Investment and Credit Bank Credit - Information Bureau “Ishenim” Institute of Youth Development IFC Kyrgyzstan GIZ Kyrgyzstan University of Central Asia – Aga Khan Foundation SOS Children Villages Kyrgyzstan Association of Guarantee Funds
- Date of event: 9th - 17th of March
- Number of children reached: 6 000
- Participants: Union of Kyrgyz Banks” ALE FINCA Micro-Credit Company CJSC Academy of State Management under the President of KR School-Lyceum No 13
- Date of the event: 12th - 13th of March
- Number of children reached: 50
Agency on the protection of Deposits of the Kyrgyz Republic, American University of Central Asia, AMFI - Association of Microfinance Institutions of Kyrgyzstan, Credit Information Users Association, German Society for International Cooperation (GIZ), The state Fiscal Service under the Government of the Kyrgyz Republic, The State Agency for Youth Affairs, Physical Culture and Sports under the Government of the Kyrgyz Republic, CJSC Bank "Bai-Tushum", CJSC "FINCA Bank", "Demir Kyrgyz International Bank", Policy Development Institute, Union of Banks of Kyrgyzstan, The International Finance Corporation (IFC), The Ministry of Education and Science of the Kyrgyz Republic, Ministry of Finance of the Kyrgyz Republic, The National Bank of the Kyrgyz Republic, OJSC "Aiyl Bank", OJSC "Dos credo bank", JSC "Eurasian Savings Bank", JSC "Investment Bank" Chang An", JSC «CB Kyrgyzstan", JSC "Rosinbank, OJSC Halyk Bank Kyrgyzstan, University of Central Asia, Senti financial company, Foundation for Education Initiatives Support.
Global Money Week 2017 takes place in Kyrgyzstan for the third time on the national level, led and coordinated by the National Bank of Kyrgyz Republic in cooperation with the Development Policy Institute. Many competitions will take place such as a contest among republican schools on the best lessons in the school during GMW2017 and budget hearings on the school budgets, as well as the national drawing contest for children (held among the students of the Kyrgyz Republic educational institutions, aged from 7 to 17 years in three age categories: 7-10 years, 11-14 years, 15-17 years). There will also be photography contests ("My piggy bank" or "Selfie challenge on financial literacy of children and youth", etc.) and the contest "The best lesson on financial literacy."
According to the results of competitions a large exhibition will be held at the Museum of Fine Arts and in other busy areas of the capital of the Kyrgyz Republic Bishkek. Various training sessions, seminars, debates, and quest games on financial literacy that addressed to families, children, youth, and adults to improve financial literacy will be held throughout the week. An opening press conference to mark the beginning of the Global Money Week 2017 in Kyrgyzstan, with the participation of the media and all the members of the initiative group as well as CYFI representative will take place on March 27th.
The Kyrgyz Stock Exchange will have an open day for young people, with a symbolic ringing of bells as the opening of the stock exchange session. During the week, there will be motivational lecture on young entrepreneurs for schoolchildren and students (in schools, universities, or other sites).
University of Central Asia and SPCE along with partners plans to reach 200 children and youth through visits to banks, University and a private company, holding different contests, and playing financial games. The monopoly game will be taught to children to teach them how to plan their budge, as well as the photo contest on how to save and spend pocket money will be held. The essay contest among 14-17-year-old teenagers on “A penny saved is a penny earned.” Is planned for March 30. SPCE will also organize visits to banks and meeting bank employees for the youth groups.
2016 Kyrgyzstan Global Money Week
The National Bank of the Kyrgyz Republic and Development Policy Institute were once again coordinating Global Money Week in a nation-wide campaign in Kyrgyzstan. More than 40 different organizations became part of the Global Money Week 2016 national committee, including the Union of Banks of Kyrgyzstan, Educational Initiatives Support Fund, Bishkek Academy of Finance and Economics, GIZ, IFC and many financial institutions and NGOs. The GMW campaign offered various activities, trainings and contests, aimed at inspiring children and youth to gain knowledge about money, savings, possibilities to start business and employment, as well as at drawing public attention to the necessity of being financially literate in order to make informed decisions in the future.
The Week kicked-off with a national press conference with the participation of the Governor of the National Bank of Kyrgyz Republic, President of the Union of Banks, Chairman of Development Policy Institute and others. An exciting video competition was held in Kyrgyzstan from February 16 to March 16, 2016. The key objective of the contest was to draw the attention of teenagers and youth to the enhancement of financial literacy, to the importance of smart money management, setting objectives and developing realistic financial plans. Results of the competition were announced at the closing ceremony of the Week. Moreover, two essay competitions were held in the country – one for children from orphanages on the topic “Take part. Save smart!”, and the other one on the topic “What is money and what do we need it for?” for children of three age groups – 7-9 years old, 10 to 12 years old and 13 to 15 years old. Winners of the competition received great gifts sponsored by commercial banks that took part in the campaign in Kyrgyzstan.
On 18 March, the National Bank of the Kyrgyz Republic hosted a roundtable where the Governor presented the National Financial Literacy Program of the country for 2016-2020 for the first time. Youth was declared as the priority target group, and integration of compulsory financial education in the school curriculum was declared as one of the target objectives of the national program.
The University of Central Asia SPCE in Naryn also held GMW 2016 lectures and debates on “Save today, Safe tomorrow” at the Resource Center to bring the young generation’s attention to the banking system, information about savings, deposits and loans and to generally give knowledge about financial literacy. A tour for youth to the offices of the Kyrgyz Investment Credit Bank was also organized.
More than 16,000 children and young people took party in Global Money Week 2016 events in Kyrgyzstan.
“Conducting Global Money Week in Kyrgyzstan is essentially important for each person in the country, and particularly for everyone in our village because financial literacy is as important as school or university education. These skills with stay with us for the rest of our lives.” Bakhram Rakhmonkulov, Batken region, Kyrgyzstan
2015 Kyrgyzstan Global Money Week
Following the success in 2014, a national Global Money Week working group led by National Bank of Kyrgyz Republic with more than 25 stakeholders from different sectors was formed to plan for the celebrations in 2015. The celebrations began on 10 March with a national press conference in Bishkek attended by the participation of the Governor of the National Bank. Finsabat, the first national website on financial literacy with the special section for children, and children’s comics book were also launched during this press conference.
«Children responded well to all activities, and were very active in discussions, competitions and trainings and asked a lot of questions. Global Money Week in Kyrgyzstan was a big success. We will definitely continue this tradition next year.”Mr. Tolkunbek Abdygulov, Governor of the National Bank of Kyrgyz Republic
More than 200 financial literacy activities were conducted for more than 6000 children and youth across Kyrgyzstan, including those in remote and rural areas of the country. Activities included expert lectures, seminars, master classes, round tables, visits to commercial bank branches, quizzes, competitions, and open days at commercial banks and government agencies, including Ministry of Finance of Kyrgyz Republic, Deposit Protection Agency, National Bank of Kyrgyz Republic etc.
42 financial literacy trainings for more than 1000 schoolchildren and students were conducted by FINCA Bank and Union of Banks; tours and master-classes on youth entrepreneurship by the Ministry of Labour, Migration and Youth; educational lectures by employees of the National Bank; excursions to the Money Museum of the Bank for kids by SOS Children’s Villages and other youth groups; visits to bank branches, interactive games, shows and seminars organized by the Development Policy Institute in schools around the country; round-table discussion for the student clubs by FSA Kyrgyzstan; visits to Kyrgyzstan Stock Exchange and lectures about the history of money by Association of Microfinance organizations; video polls about financial behavior of youth by the Institute of Youth Development; lectures for students by IFC Kyrgyzstan; seminars at the University of Central Asia, and many other very interesting and diverse events were organized.
In February 2015 a citywide drawing competition on the topic “Save today. Safe tomorrow” was organized. The results of this competition were announced at the closing ceremony held at the G. Aitiev Kyrgyz National Museum of Fine Arts. The ceremony was inaugurated by the Governor of the National Bank and Chairman of the Development Policy Institute. Winners of the competition received prizes from the National Bank, deposit certificates from financial institutions (FINCA Bank, Bai Tushum Bank, KICB and Aiyl Bank) and other organizers. Exhibition of children pictures was open at the Kyrgyz National Museum till end of March 2015.
Global Money Week events and celebrations were extensively covered in major national press, media, TV and radio channels.
“I have never been in the part of the bank, where everything happens: where bankers work, where interest rates are determined, where decisions on giving loans are being made. It was really interesting. Now I will try to persuade my mom to open me a bank account, so I can save money. I want to get a good education. Thank you for organizing this visit!”Eldiyar, Grade 5 student
You can find more information about various Global Money Week activities in Kyrgyzstan on Facebook page of Global Money Week-Kyrgzystan.
2014 Kyrgyzstan Global Money Week
There were financial educations presentations abound in Kyrgyzstan during this year’s Global Money Week. The first set was given by representatives from Association of legal entities "Union of Kyrgyz Banks" and the FINCA Microcredit Company CJSC (which has a long-term and multi-component project on Financial Literacy) to around 50 students in the capital city, Bishkek.
In the Academy of State Management under the President of KR a presentation was provided to students on financial literacy that focused on the theme of “savings”. It was followed by discussions between the financial experts and the students in attendance. In addition, a financial presentation during an economic lesson focused on the main rules of savings for pupils of School-Lyceum #13 was provided.