Albania

2023 Albania Global Money Week

GMW NATIONAL COORDINATOR:

  • Bank of Albania

PARTICIPATING ORGANISATIONS:

  • Bank of Albania, Albanian Association of Banks, Ministry of Education and Sports, Albanian Deposit Insurance Agency, Junior Achievement of Albania, 7 commercial banks, 9 universities, 49 high schools, 102 primary and middle schools (9 years compulsory schools)

TOTAL NUMBER OF PARTICIPATING ORGANISATIONS:

  • 172

NUMBER OF CHILDREN AND YOUNG PEOPLE REACHED DIRECTLY:

  • 3875

NUMBER OF ADULTS REACHED DIRECTLY:

  • 2000

NUMBER OF PEOPLE REACHED INDIRECTLY:

  • 235 000

GMW was launched in Albania on March 20th at the premises of the Bank of Albania (BoA). The launching ceremony was attended by high level representatives of financial institutions and media as well as by many young people from elementary schools, high schools and universities in Tirana.

During the event, winners of the following contests organised by the Bank of Albania and the Albanian Association of Banks were announced:
• “Best drawing” competition, where third graders presented their concept on “planning money”.
• “Best project” competition, where fourth graders created projects on the GMW theme.
• “Best meme” competition, where eighth graders elaborated on the message of GMW through images and captions.
• “Best video” competition where high-school students created short videos presenting their messages on the GMW theme. The video could be produced by an individual or a team.
• “Best essay” on "Climate changes - why are they relevant for the financial sector in Albania?”, which targeted Economics and Finance students.
• “European Money Quiz”.

Besides the competitions, in this year's edition, BoA, in the role of national coordinator, with partners - AAB, MES, Albanian Deposit Insurance Agency (ADIA) and Junior Achievement Albania (JAA) - have developed different activities to engage children and young people financially, teaching them how to care about money, how to save, how to earn through entrepreneurship and lay the foundations for their future.

The main activities organised during the week were:
• JAA organised three activities: (1) the International Trade Game, which involved 40 students; (2) Finance Boot Camp, which involved 40 students from eighth and ninth graders; as well as the (3) Innovation Camp, with 40 high school students.
• Open lesson at a preschool class.
• Open lectures in 10 compulsory schools, aimed at conveying basic concepts of financial education, such as saving to make wishes come true and to plan for the future, etc.
• Open lectures in 2 high schools on "The functions and role of the central bank in the lives of citizens".
• 6 open lectures held in 5 public and private universities, on topics ranging from inflation and impacts on the economy to climate change and their importance for the central bank were discussed.

During the Global Money Week, BoA representatives participated in 14 different TV shows, TV programs and podcasts, on 10 national and local televisions, aiming to increase public awareness on the development and importance of financial education in general and GMW in particular.

2022 Albania Global Money Week

GMW NATIONAL COORDINATOR:

  • Bank of Albania

PARTICIPATING ORGANISATIONS:

  • Albanian Associations of Banks, Ministry of Education and Sports, Albanian Deposit Insurance Agency, Junior Achievement, Young Enterprise, 13 high schools, 8 universities

TOTAL NUMBER OF PARTICIPATING ORGANISATIONS:

  • 173

NUMBER OF CHILDREN AND YOUNG PEOPLE REACHED DIRECTLY:

  • 8,225

NUMBER OF ADULTS REACHED DIRECTLY:

  • 1,536

NUMBER OF PEOPLE REACHED INDIRECTLY:

  • 300,014

Albania participated in GMW for the eighth time. This year’s aim was to raise awareness about financial responsibility in the younger generation as a way to ensure a better future. Bank of Albania in cooperation with the Albanian Association of Banks and with the support of the Ministry of Education and Sports and the Deposit Insurance Agency, organised educational and awareness-raising activities all over the country, reaching directly more than 8,000 students from almost 140 schools of all levels. Their GMW activities included school competitions, lectures in university auditoriums, visits to the Museum of the Bank of Albania, as well as presentations carried out in primary schools, in middle schools and in high schools.

Albania’s GMW2022 ceremony was organised in the premises of the Bank of Albania, under the slogan "Build your future, be smart about money" on Thursday, March 24. This event was launched by the Governor of the Bank of Albania, the Minister of Education and Sports, and the President of the Albanian Association of Banks. During the programme, winners were announced for different competitions initiated by the Bank of Albania and Albanian Association of Banks. The CEOs of the commercial banks that sponsored the activities handed out the prizes and took pictures with the winning students.

Throughout the last week of March, Albanian students were able to participate in six different GMW contests: (1) drawing competition for 3-4th graders (2) meme competition for 9th graders (3) the European Money Quiz for 13 and 15-year-olds (4) video competition for high school students (5) the Countdown Challenge for high school students and (6) essay competition for university students.

During GMW2022, Junior Achievement Albania (JAA) organised the International Trade Game which reached 30 high school and university students. Students were divided into teams of 2-10 people and each group represented one country. This game was played by 30 JAA Alumni members from ages between 15-20. During the initiative, countries competed against each other to cut paper shapes (circles, triangles, rectangles, etc.) and sell them to an international commodity market trader at posted prices, which varied with supply and demand. The objective for each country was to make as much money as possible.

During the project, which is a version of the World Trade Game, youth learnt about earnings, saving, investing, budgeting, credit, risk management and giving. They also learnt to apply these skills to create a personal financial plan enabling them to set specific goals for their future financial needs.

Throughout the Week, 14 young people were able to engage in the Speed Learning online event in collaboration with JA Europe. Students had the chance to interact with Arrow Global Volunteers from Albania, Ireland, Italy, Portugal and the UK. The goal was to learn more about career options in the financial sector in an interactive way.

Furthermore, this year 14-16 years old students had the opportunity to participate in a Financial Bootcamp where students were divided into groups to create a business idea with a financial plan.

2021 Albania Global Money Week

GMW NATIONAL COORDINATOR:

  • Bank of Albania

PARTICIPATING ORGANISATIONS:

  • lbanian Association of Banks, Ministry of Education, Youth and Sports, Albanian Deposit Insurance Agency, Junior Achievement of Albania

TOTAL NUMBER OF PARTICIPATING ORGANISATIONS:

  • 87

NUMBER OF CHILDREN AND YOUNG PEOPLE REACHED DIRECTLY:

  • 4,500

NUMBER OF ADULTS REACHED DIRECTLY:

  • 300

NUMBER OF PEOPLE REACHED INDIRECTLY:

  • 300,000

The Bank of Albania (BoA) and the Albanian Association of Banks (AAB), with the support of the Ministry of Education, Sports and Youth, as well as other partners, such as the Deposit Insurance Agency (ASD), have taken part in Global Money Week since the initiative was launched in 2012. The focus has been to organise educational and awareness-raising activities for pre-university and university students.

This year, due to the challenges of the COVID-19 pandemic, the opening ceremony and multiple GMW2021 events were held virtually. The opening ceremony was launched by the Governor of the Bank of Albania, the Minister of Education, Sports and Youth, and the President of the Albanian Banking Association. They highlighted the importance of financial literacy amongst the younger generations. After the welcome address by the Governor, winners of different pre-GMW competitions were announced.

In the framework of GMW2021, on March 25th, the European Money Quiz was organised for the third time in Albania. This pan-European competition aims to improve the financial culture of children ages 13-15 years.

As in previous years, the Week’s programme offered interesting opportunities for students to get involved with many educational activities while respecting all measures to limit the spread of the COVID-19 pandemic.

2019 Albania Global Money Week

LEADING ORGANISATIONS:

  • Bank of Albania

PARTICIPATING ORGANISATIONS:

  • 8 Media Organisations, 90 Schools, Albanian Association of Banks, Albanian Deposit Insurance Agency, American Bank of Investments, Banka Kombëtare Tregtare, Credins Bank, Intesa Sanpaolo Bank Albania, Junior Achievement of Albania, Ministry of Education, Sports and Youth (and the Regional Education Departments)

NUMBER OF CHILDREN REACHED DIRECTLY:

  • 5 000

NUMBER OF PEOPLE REACHED INDIRECTLY:

  • 350 000

Bank of Albania
The Bank of Albania (BoA) participated once again in Global Money Week. All events were organised in cooperation with the Albanian Association of Banks (AAB), with the support of the Ministry of Education, Sports and Youth. The celebrations started with a launching ceremony at the Museum of the BoA. The First Deputy Governor, the Chairman of the AAB, and the Deputy Minister of Education, Sports and Youth addressed the audience, to emphasize the importance of financial literacy amongst the younger generation. During the ceremony, winners of different competitions organised by the BoA and the AAB were announced. In addition to the GMW theme, the theme in Albania was “Too young to speak in old Lek”. Throughout the Week, a series of education and awareness-raising activities were organised, including school competitions, university lectures, visits to the Museum of the BoA, and visits to commercial banks. Furthermore, many TV shows covered the GMW activities, focusing on the importance of the events.

2018 Albania Global Money Week

LEADING ORGANISATIONS:

  • Albanian Association of Banks (AAB), Bank of Albania (BoA)

PARTICIPATING ORGANISATIONS:

  • A1 Report, ABC NEWS, Albanian Association of Banks, American Bank of Investment, Balkanweb, Businessmag.al, Deposit Insurance Agency (DIA), DM-Consulting Company, EasyPay, Intesa Sanpaolo Bank Albania, Junior Achievement Albania, Klan TV, Koha Jonë, Ministry of Education, Sports and Youth, Monitor, News 24, Ora News, Panorama.com, Raiffeisen Bank, Scan TV, Shqiptarja.com, Societe Generale Bank, Tirana Bank, Top Channel TV, Top News TV, TVSH TV, Union Bank, Youth Agency, 8 universities

NUMBER OF CHILDREN REACHED DIRECTLY:

  • 5 000

NUMBER OF PEOPLE REACHED INDIRECTLY:

  • 14 000

Albanian Association of Banks (AAB), Bank of Albania (BoA)
The Bank of Albania launched Global Money Week celebrations on 12 March. The 2018 celebrations marked the Bank’s fifth time participating in the Week. The events were organised in cooperation with the Albanian Association of Banks, and with the support of the Ministry of Education and Sports. The DIA organised a series of educational and awareness-raising activities, such as school competitions, lectures, visits to the Museum of the Bank of Albania and commercial banks. Approximately 5,000 children and young people were involved from 55 secondary schools, 14 high schools and 8 universities from 14 cities across the country. The Launching Ceremony of Global Money Week was held at the Museum of the BoA. The Governor of BoA and the Chairman of the AAB gave a welcoming address, during which they emphasized the importance of financial literacy in Albania, especially amongst younger generations.The ceremony continued with awards for the winners of three competitions, which BoA and the AAB created to celebrate GMW. The first contest, on the GMW2018 theme “Money Matters Matter!”, targeted sixth graders who presented creative projects, such as drawings and installations. The aim of the competition was to create projects, such as drawings and installations, that clearly conveyed their concept of money management. Overall, 144 pupils from 21 primary schools presented 70 projects. The second competition, a video contest, invited high school students to present their messages on “Money Matters Matter”, either in a team or individually. In total, three winners were chosen from the 24 entered into the competition by 40 students across Albania.The last competition challenged university students to write argumentative essays on the topic, “Does the use of the Euro in the commercial transactions in Albania pose a risk?". Additionally, throughout the Week, many young people visited Museum of the BoA and other commercial banks. Students also had the opportunity to attend lectures organised at the BoA and different universities.Moreover, many TV talk shows discussed GMW activities on which representatives from the Bank of Albania, Albanian Association of Banks and other experts of financial education matters spoke about the Week.

2017 Albania Global Money Week

LEADING ORGANISATIONS:

PARTICIPATING ORGANISATIONS:

NUMBER OF CHILDREN REACHED DIRECTLY:

  • 2 200

NUMBER OF CHILDREN REACHED INDIRECTLY:

  • 25 000

Global Money Week 2017 marked the Bank of Albania’s fourth time participating in the Week’s celebrations. In cooperation with the Albanian Association of Banks, and with the support from the Ministry of Education and Sports, the Deposit Insurance Agency (DIA), Junior Achievement (JA) and the National Youth Service (RAS), educational and awareness activities were organised, directly reaching around 2200 children and young people.

The activities of the Global Money Week activities were very diverse and included:

  • A drawing completion called “My money” for elementary school pupils.
  • “The best Video” competition on the topic of “Save for bad days! Save for better days” for high school students.
  • A tri- high school competition that selected the elective subject “Personal Finance in your hands” which was transmitted on the “Ora News” TV channel.
  • An essay competition on the topic of “Should financial education be part of the academic curriculum?” for university students.
  • A debate competition “Acting like bankers” for university students.
  • Lectures from high level representatives of financial institutions.
  • Innovation camp for students.
  • A theatrical play and art exhibition that creatively explained financial concepts for children.
  • School visits to commercial banks.
  • A video of the events can be seen here

Aside from the opening ceremony of the Week on 27 March, other highlights included the lecture at the European University by the Governor of Bank of Albania on 30 March.

2016 Albania Global Money Week

LEADING ORGANISATIONS:

PARTICIPATING ORGANISATIONS:

DATE OF THE EVENT:

  • 14th - 19th of March

TOTAL NUMBER OF CHILDREN AND YOUTH ENGAGED:

  • 13 000

TOTAL INDIRECT REACHED:

  • 10 000

The opening ceremony of Global Money Week in Albania took place on 14 March, with the Governor of the Bank of Albania, the Minister of Social Welfare and Youth, the Minister of Education and the Chairman of Albanian Association of Banks at the park next to the BoA’s building. After the ceremony, educational and entertainment activities for kids were conducted in the park by the artist Kosta Zhonga, and supervised by the BoA and AAB staff. Children also received branded piggy boxes with the slogan of the Week.

Tuesday 15 March saw a very important event for advancing coordination of financial education initiatives in the country: the roundtable discussion on the “Need for a National Strategy on Financial Education”, hosted by the Bank of Albania, and organised together with the participation of representatives from BoA, AAB, Institute of Education Development, National Agency of Vocational Education and Training & Qualifications, Albanian Financial Supervisory Authority, Albanian Insurance Deposit Agency and the Ministry of Economy, together with excellent students, personalities and experts from the field (professors and non-profit organisations).

On Wednesday 16 March, a Karl Popper debate was organised between six teams from three main Albanian universities on the topic “Should financial education be part of the pre-university obligatory curriculum?” (Pro/Cons). The event was organised by AAB and hosted by the youth center of Tirana. Even though the “con” team won the debate, the level of debate and the arguments brought from each of the teams was very much appreciated by the jury and by the audience alike.

On Thursday 17 March, another interesting roundtable discussion took place on “Financial Education and Entrepreneurship”, discussing youth and economic success, entrepreneurial competence, financial resilience and practical business experiences. The event was organised in cooperation with Junior Achievement Albania, the Banking Association and the Ministry of Social Welfare and Youth.

Plenty of other exciting and interesting events were organised for children and youth in Albania during the whole week, including:

  • Visits of school kids to BoA’s Museum
  • Competition between three high schools that have selected the elective subject “Personal Finance in your hands” which was aired on “Scan TV”
  • Open lessons from BOA’s and Commercial Banks representatives with students of Finance at universities in Tiranë, Elbasan, Durrës and Korçë
  • Training for students on the Social Insurance Scheme
  • Training for youth and civil society organisations on the preparation of "Budgeting" at the Youth Center in Tirana
  • Visits of students to commercial banks branches
  • Competition “Acting like bankers” at the University of Integrated Studies, Durrës

Furthermore, GMW this year in Albania was extensively covered by the national media and press, with social media promotion, radio and interviews on television and articles in the press. During the Week, graphic artistic creations on different aspects of money made for kids by Mr. Kosta Zhonga were showcased on the show “Little artists” on the Çufo chanel on the Digitalb platform.

“Perhaps the formulation and implementation of monetary policy, the safeguarding of the financial stability, and the planning of personal finance may not seem attractive to the younger generation, but I assure you that they have a significant impact on the lives of each of us” Gent Sejko, Governor of Bank of Albania
“Financial education is a process that triggers enthusiasm. This is not a nostalgic teacher speaking, but the real benefits of financial education that we enjoy every day.” Elisabeta Gjoni, First Deputy Governor
“Watching my piggy bank full of coins, makes me feel smart.” 7 year-old boy, receiving a branded piggy box at the opening ceremony of GMW

2015 Albania Global Money Week

PARTICIPANTS:

DATE OF EVENT:

  • 9th - 13th of March

NUMBER OF CHILDREN REACHED:

  • 230

Keeping in line with the Global Money Week framework, the Albanian Banking Association and the Ministry of Social Welfare and Youth in Albania organised different events in Tirana to raise public awareness about the importance financial literacy in the country. The launch celebrations took place on 9 March at the Tirana Youth Center with “Smart Financing”, a financial talk, which allowed interaction between bankers and teenagers (15-18 years old) with a focus on banking products and applications. Participants were greeted by the Secretary General of the Albanian Banking Association. She highlighted the commitment of the association and member banks to promote financial education for youth, as it is a necessary condition for good banking clients in the future. The Director of the National Youth Service and the Head of the State Agency for Protection of Child Rights of the Ministry of Social Welfare and Youth addressed the youth and also stressed the importance of financial education in the early stages of life.

Other events of the week included seminars for the Economics Students Club and representatives of the Union Bank on “Bank’s Interest Rates” by the Chief Editor of Bankieri Magazine; visits to commercial banks for the students of the Economic High School of Tirana, where they learnt how to open bank accounts, make transfers and other operations. An interactive seminar on Youth Business Startup was organised under the direction of the Director of Tirana Youth Center. The Ministry of Social Welfare and Youth and the Youth Policy Office held a seminar to present and promote the new social security and pension scheme to the high school students. Students of European University of Tirana took part in interesting practical case studies and role playing as bankers, where the winning teams were awarded prizes by Tirana Bank. In addition, a play “Çufo Piglet learns to save” was staged at the Puppet Theater for more than 200 children in the age group of 7-9 years old from different schools in Tirana.

Further, a quiz on Banks and Finances and the video on “Consumer Loans” were posted on the Albanian Banking Association’s Facebook page and YouTube channel during Global Money Week.

2014 Albania Money Week

PARTICIPANTS:

DATE OF THE EVENT:

  • 10th - 17th of March

NUMBER OF CHILDREN REACHED:

  • 2 500

For Global Money Week the Bank of Albania (BoA), in cooperation with the Albanian Association of Banks and the support of the Ministry of Education and Sports, carried out several educational activities for high school students.

The opening ceremony was held at the Puppets Theatre in Tirana, during the première of the finance-themed puppet show called “Çufo and Tip – An adventure with goldlets”, staged on March 10th, 2014. The ceremony was attended by the Governor of BoA, representatives of diplomatic corporations, educational government institutions and banks. The Governor stressed the importance of increasing the financial education of the public and the Bank of Albania’s serious commitment to it. During the ceremony the Governor of the Bank of Albania signed a Memorandum of Cooperation with the Chairman of the Albanian Association of Banks encouraging reciprocal cooperation on financial education of students (ranging from junior high schools to universities) in the field of economy, finance and banks. The puppet show called “Çufo and Tip – An adventure with goldlets” was played twice a day, from 11th March to 17th March, including the weekend, for the public.

The second activity dedicated to kids encouraged them to participate in the drawing competition “My Money”. The competition targeted grade I-III pupils of the schools that have been learning financial education from the teaching set "1, 2, 3... Çufo the piglet is learning to save". About 420 designs by 400 children from 13 schools across the country were submitted and posted on the Bank of Albania’s educational Facebook page. The public voted for their favorite drawings, by ‘liking’ them on Facebook until 27th March 2014. The 10 drawings with the most likes were announced as winners and received an encyclopedia, an award certificate, and a bank account opened in their name with 10,000 leks deposited as an initial amount by Raiffeisen Bank.

An awards ceremony for the winners of the "My Money" drawing competition was organised by the BoA in cooperation with the Albanian Association of Banks under the auspices of Global Money Week, on 31st March 2014. The event was attended by the Governor of the Bank of Albania, the Minister of Education and Sports, the Chairman of the Albanian Association of Banks, and the Chief Executive Officer of Raiffeisen Bank in Albania. During the ceremony, the BoA and the Minister of Education and Sports underlined the importance of financial education at an early age. They added that the pupils’ drawings were their first steps towards cultivating a financially literate society.

In cooperation with the Albanian Association of Banks visits were organised to commercial banks in different areas in Dibër, Durrës, Korçë, Lushnje and Tirana. The excursions were specifically for students who had taken BoA’s module "Personal Finance in Your Hands" which is part of the National Electives Curricula. During the excursion students had the chance to discuss with the bankers the way commercial banks function, their daily work and the financial products they offer.

The Governor of the Bank of Albania was directly involved in some of these visits, during GMW2014. He took Cajupi High School students on a visit to the headquarters of Societe Generale Bank in Tirana and invited them to join his open discussion with its General Manager. He did the same with Seit Najdeni High School and Maqellara High School in Dibër and the Credins Bank, as well as with students from Dituria High School and the National Commercial Bank in Lushnje.

BoA launched a Facebook page to offer youth updated information on money issues and other aspects of financial education. The page also informs them on how to access and use BoA’s various educational activities and resources, and has sparked a debate on how to improve them.

BoA staff appeared on various television programs to promote Global Money Week values. This raised public awareness on the importance of the values and activities. In addition to all of these activities, all schools who have financial education modules in their curriculum were formally invited to celebrate Global Money Week by organising mini-projects regarding aspects of financial education which were supervised and supported by BoA’s staff.

LEARN MORE:
www.bankofalbania.org
Bank of Albania / Facebook

2013 Albania Money Week

NAME OF THE ORGANISING ENTITY:

  • Bank of Albania

PARTNERS:

  • Albanian Association of Banks
  • Ministry of Education and Science Albania

DATE OF THE EVENT:

  • 15th - 21st of March

NUMBER OF CHILDREN REACHED:

  • 50

In celebration of Global Money Week, Bank of Albania in collaboration with The Albanian Association of Banks and the Ministry of Education organised its first activity entitled “The importance of Financial Education”, held at the Economic High School in Tirana.

Three main speakers, each representing the above institutions, delivered a presentation emphasizing the importance of financial education. The purpose was to introduce basic concepts related to money management, financial products, consumer behaviour and the importance of financial planning for the welfare of the households and for the stability of the overall financial system.

Representatives of the Bank of Albania introduced to 10th-grade students the “Personal Finance in your hands” textbook, designed by experts from the Bank of Albania and printed this year in collaboration with the Albanian Association of Banks and delivered free to around 7000 high-school students in the country.

In addition, financial literacy educational packages were developed for year 9 basic education pupils in line with OECD recommendations, which will be distributed free of charge in cooperation with the Ministry of Education and Science.

At the end of the activity, a number of educational brochures and leaflets were delivered to students to help them learn more about central banking as well as to better understand and organise financial matters of their everyday life.

"The students were so pleased with the presentations that they asked the relevant institutions to make monthly presentations on more topics on financial literacy", shared the organisers

GMW countdown 8


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