Global Money Week
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2017 Macedonia Global Money Week

Leading Organizations:
National Bank of the Republic of Macedonia
Ministry of Finance
Agency for Supervision of Fully Funded Pension Insurance
Agency for Supervision of Insurance
Securities Exchange Commission
Securities Exchange Commission

Participating Organizations:
Institutions:
Stock Exchange
KD Funds
QBE Macedonia Insurance
Eurolink Insurance
Albsig Insurance
Triglav Insurance
FULM Savings House
Moznosti Savings House
Microcredit Foundation Horizonti
Stopanska Bank
Procredit Bank
Ohridska Bank
Alliance of Microfinance Organizations
Bureau for Development of Education
KB First Open Mandatory Pension Fund
NLB New Pension Fund
Schools
Lazo Trpovski Elementary School in Skopje, Vojdan Cernodrinski Elementary School in Skopje, 11 Oktomvri Elementary School in Skopje, Vasil Antevski Dren Secondary Economic and law School in Skopje, Gjorgji Dimitrov High School in Skopje, Kole Nedelkovski Secondary School in Veles, Sv. Kiril I Metodij High School in Negotino, Woodrow Wilson Elementary and High School in Tetovo, Gostivar Secondary Economic School in Gostivar, Sv. Kiril i Metodij Secondary Economic School in Ohrid, Niko Nestor Secondary School in Struga, Sv. Kliment Ohridski Elementary School in Bitola, Jane Sandanski Secondary School in Bitola

Number of children reached directly: 550
Number of children reached Indirectly: 3000

The Coordinating Body of the Regulatory Authorities for Financial Education in Macedonia consists of the National Bank of the Republic of Macedonia, the Ministry of Finance, the Insurance Supervision Agency, Agency for Supervision of Fully Funded Pension Insurance and the Securities and Exchange Commission, in cooperation with the Bureau for Development of the Education and the Association of Microfinance Organizations, all of whom worked together beginning 27 March 2017, marking the start of Global Money Week. On this first open day of the Global Money Week, visits were organized by four primary and secondary schools from Skopje on the premises of all five regulators (NBRM, MF, ISA, MAPAS and SEC), as well as the Macedonian Stock Exchange, the Money Museum at the National Bank, one pension fund, investment fund, commercial bank, savings house and insurance company. During these visits high-level representatives welcomed the students on the premicise of the Governor of the National Bank, the President of the Council of Experts of ISA, the President of SEC, the Director of the Stock Exchange, and many more officials and representatives from the mentioned institutions.

For the first time in Macedonia, these type of activities were organized on a larger scale, with the purpose of these activities to raise the level of financial literacy among the young population in Macedonia. During their visits, educational lectures were conducted on topics in the field of the institutions they cover and work on, i.e. in the field of money, savings, trading, banking sector, investment, insurance, pension sector and other topics related to the functioning of the financial systems. The visits were conducted with recognizable, marked educational buses.

The Global Money Week in Macedonia was celebrated across three days with organized educational caravans using the educational buses. The 5 regulators along with the partners, Alliance of Microfinance Organizations, Bureau for Development of Education, and Stock Exchange reached 3000 children and youth through financial literacy awareness sessions and educational visits on 29 March in the cities Veles and Negotino. The same occurred on 5 April in the cities Tetovo and Gostivar, and on 7 April in the cities Ohrid and Struga. In addition, students from different schools in the mentioned cities visited other financial institutions with the educational buses in their local areas or other cities in Macedonia.


2016 Macedonia Global Money Week

Participating Organizations:
National Bank of the Republic of Macedonia
Ministry of Finance
Securities and Exchange Commission
Insurance Supervision Agency
Agency for Supervision of Fully Funded Pension Insurance

Date of the event:
16th of March

Total number of children & youth engaged: 2 000

The National Bank, together with the Ministry of Finance, the Securities and Exchange Commission, the Insurance Supervision Agency and the Agency for Supervision of Fully Funded Pension Insurance, whose representatives make up the Coordinating Body of the Regulatory Authorities for Financial Education in the Republic of Macedonia, gave lectures to primary and secondary school students in Macedonia. Through these lectures, students were closely introduced to money and its meaning, exchange, history, production, saving, inflation, monetary policy and more.

The Insurance Supervision Agency, as an active supporter of the Global Money Week initiative, presented on topics such as basic concepts of insurance and risk management in insurance. The Agency also launched a booklet "How insurance works”. This booklet covers the basic characteristics of insurance as a financial service, including the origins of insurance, how insurance works, types of insurance and how an insurance company makes a profit, and is suitable for the children as of primary school level.


2015 Macedonia Global Money Week

Participants:
National Bank of the Republic of Macedonia
Ministry of Finance
Insurance Supervision Agency
Agency for Supervision of Fully Funded Pension Insurance
Securities and Exchange Commission of the Republic of Macedonia
Macedonian Stock Exchange
Date of event:
9th - 31st of March
Number of children reached:
1 000

The name of the event was simply Global Money Week 2015 in Macedonia. During GMW lectures were held in Elementary and Secondary Schools, not only in the capital city Skopje, but in many more around Macedonia. These lectures targeted different profiles of students and pupils, including marginalized groups of students as well. Lectures were given in three languages - Macedonian, Albanian and English. Lectures were also given in the Roma language in a municipality where Roma people are living and are majority. More than 30 schools were visited during this period of GMW activities in Macedonia, through which students were closely introduced to money, its meaning, exchange, history, design, followed by the concepts of saving, inflation, monetary policy, fiscal policy, taxes, insurance, pension and so on.

On 9 February 2015, the Coordinating Body of the Regulatory Authorities for Financial Education in the Republic of Macedonia, consisted of representatives of the National Bank, the Ministry of Finance, the Securities and Exchange Commission, the Insurance Supervision Agency and the Agency for Supervision of Fully Funded Pension Insurance, officially launched the “Global Money Week” in 2015. The event was organized on the premises of the “Vasil AntevskiDren” high school in Skopje, in cooperation with the school principal, teachers and students of third and fourth years. The official start of the Global Money Week was marked by introducing the students to the work of the Coordinating Body and the activities in the field of financial education in each of the institutions. A quiz was organized in which the students were divided into three teams. Students were asked to give the teams financial names or terms that will characterize the team and to respond to questions from the area of operations of the five institutions. Each team consisted of six students, and the teams were named: “Treasury”, “Brokers” and “Supervisors”. The questions were answered by the team that was the quickest in the response. The winners, the team “Treasury”, received symbolic rewards in the form of representative material marking the Global Money Week.

The Insurance Supervision Agency, as an active supporter of the movement Global Money Week, made a presentation covering the topics insurance, basic concepts of insurance and risk management in insurance. Also, the Agency, in collaboration with the Ministry of Education and the National Insurance Bureau, launched a social children’s game “Less Risk, More Fun”. It is a board game and is based on players with different roles. During the game, the player may found herself/himself in the role of a child, teenager, young adult, parent, grandparent, depending on the drawn cards.

The Securities and Exchange Commission has published “Manual for understanding the securities market” in collaboration and support from IFC and SECO. The Manual is published for high school students and it will influence on the level of financial literacy of the youth population. This Manual was promoted during Global Money Week 2015 events in 2 high schools: “Vasil Antevski-Dren” and “Gjorgji Dimitrov”. The Manual is available online.

 

2014 Macedonia Global Money Week

Participants:
National Bank of the Republic of Macedonia
Ministry of Finance
Insurance Supervision Agency
Agency for Supervision of Fully Funded Pension Insurance
Securities and Exchange Commission of the Republic of Macedonia
Macedonian Stock Exchange
Date of event:
10th - 17th of March - in general in Macedonia;
17th February - 17th March - National Bank of the Republic of Macedonia;
Number of children reached:
1 000

The Global Money Week kicked off Monday, 10 March 2014, by symbolic ring of the bell at the Macedonian Stock Exchange, organized by the Coordinating Body of the Regulatory Authorities for Financial Education in Macedonia, under the leadership of Child and Youth Finance International, which took place in the period 10-17 March 2014, presented by the Deputy-Prime Minister and Minister of Finance, the Governor of the National Bank of the Republic of Macedonia and the CEO of the Stock Exchange. The Macedonian Stock Exchange provided a possibility for the students to trade on the virtual stock market.

Thirty best students from the economic and law school 'Vasil Antevski-Dren' from Skopje attended this event. They were allowed to virtually trade at the virtual stock exchange through the Macedonian Stock Exchange's educational portal, where a simulation of actual trading has been performed. The best student trader will be awarded with free training on capital markets principles at the Macedonian Stock Exchange after a month of trading.

During the 10-17th March the coordinating body of the Regulatory Authorities for Financial Education in Macedonia organized a host of activities for Global Money Week. The ‘body’ consists of the National Bank of the Republic of Macedonia, the Ministry of Finance, the Insurance Supervision Agency, the Agency for Supervision of Fully Funded Pension Insurance and the Securities and Exchange Commission of the Republic of Macedonia. This week was developed in the framework of an entire month which Macedonia dedicated to financial education in schools, and was led by the National Bank of the Republic of Macedonia (NBRM).

During the week representatives of the above mentioned institutions visited schools all over the country, from primary to high-school, and interacted with more than 1 000 children and youth conducting lectures on personal finance and savings. In order to promote and distribute the information, the NBRM prepared brochures about financial education and Global Money Week, of which 30 600 copies were distributed around the country.

The events were concentrated in a week, but the ideas discussed and learned will have a long-term impact, especially among young people, and more generally, on the overall economy. It is very important that every child and every youth, when they become an adult, is ready to enter the labor market, to make the right financial decisions and to understand the importance of financial products and services.

The National Bank delivered a full month of interactive lectures, between 17th February-17th March, in several primary and secondary schools through which students are introduced to a more in depth understanding of money in regards to its meaning, exchange, history, manufacture, saving, inflation, and monetary policies. The National Bank, with the Financial Education Project, develops educative papers and publications designed for youngsters that include various representative materials.

 

2013 Macedonia Global Money Week

Organizers:
National Bank of the Republic of Macedonia
Partners:
Center for Human Rights and Conflict Resolution
Date of event:
15th – 21st of March
Number of children reached:
500
Press:
OU “Ljuben Lape” Newsletter; NBRM Press; “Vecer” - Daily Newspaper; “Ekonomski” - On-line news

In one of the schools, children were excited when they were given brand new Denar coins, directly brought from the NBRM vault, especially when they heard that they were the first to touch those coins. One child put his coin into a saving box to bring him luck. All the children in the class did the same. At the end, they said that this saving box will bring them luck, and once the saving box is full of coins, they will pay for a class trip.

During the Global Money Week, the NBRM organized creative interactive lectures in 15 elementary schools focused on:

  • Saving as a priority in the financial education;
  • Functions of the NBRM as a central bank and the differences between the NBRM and the commercial banks;
  • Presentation of Macedonian banknotes, new and old coins and banknotes;
  • Presentation and knowledge of the fraud-detection elements of the banknotes.

The Global Money Week Macedonia was marked by publishing new financial educational material – posters, leaflets, and comic books in Macedonian and in the five minority languages. In collaboration with one of the best-known companies for children magazines, contents on different economic issues were published. Moreover, children were given goodies that helped them learn more about finance: jigsaw puzzles, rulers featuring Macedonian Dinars (coins and banknotes), magnets, saving boxes, caps, small chocolates with design of the Macedonian banknotes, wallets and notebooks. Mr. Dimitar Bogov, the Governor of the National Bank of Macedonia, as well as the Board members also visited some of the schools.

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