DURING GMW2022

BRAZIL

In Brazil, Comissão de Valores Mobiliários (CVM) brought for the first time the Global Money Week in the metaverse. A pilot meeting was organised in the metaverse to discuss the importance of new technologies in general, and of the metaverse in particular, to revolutionize the Brazilian education system. Brazil’s CVM also organised for the first time financial education and awareness activities for indigenous people from the Jaraki people, from Aldeia Lago da Praia and in the Municipality of Santarém in Pará. The young people from these areas and communities participated in classes about citizenship, financial control, budget and conscious consumption.

ARMENIA

In Armenia, students of COAF/Aflatoun in the Arteni village founded a start-up of eco pens called “Re’pen”. During GMW, financial experts from various organisations visited these schoolchildren and helped them with financial matters related to making and distributing the pens.

BENIN

In Benin and Egypt, organisations explored learning through peers. In Benin, the Société d’Inclusion Financière (SIF-Groupe) organised panel discussions with children and young people, to allow young people to share their own insights on how they manage their money, and to allow educators and organisers to understand young people’s financial behaviours better, in order to tailor their programmes to young people’s needs.

BULGARIA

During GMW, Junior Achievement (JA) Bulgaria carried a nation-wide financial literacy survey for parents. JA Bulgaria also organised innovation camps with young business leaders for both high-school and university students.

Countries used innovative technologies to teach financial education

INNOVATIVE ACTIVITIES IMPLEMENTED DURING GMW2022

The 2022 edition of the GMW saw the partial return to in-person activities, after the previous edition where most activities were held online. At the same time, most organisations also maintained their online presence during the GMW 2022 edition. Participating organisations found, once again, innovative ways to conduct educational activities, ensuring pupils remained engaged and learned about why financial education is important to them. Most of the activities were tailored to the specific country situation. Some of the innovative activities implemented during GMW 2022 are presented below. 4

4 Examples and countries mentioned in the following paragraphs are a sample and do not provide an exhaustive list of innovative activities implemented throughout the GMW.

CROATIA

The Croatian Institute for Financial Education (CIFE) used 3D virtual tours to teach financial literacy concepts and explore energy efficiency measures in households. Students learned by examining real or life simulation case studies in virtual reality.

HUNGARY

In Hungary, the Money Compass Foundation extended its financial textbooks with augmented reality illustrations, meaning that

come alive when using a mobile application. The Foundation also developed a new web-application, the MoneySim, a financial simulation for students where the players choose life situations and make financial decision in them

EGYPT

In Egypt, the Egyptian Banking Institute (EBI) launched a new series of videos delivered by a 10-year old child explaining basic financial concepts in a simple way.

EUROPE

The European Money Week, organised by the European Banking Federation (EBF), had as focus “Supercharging Financial Skills”. Various activities were organised, including a flagship event, a series of spotlight interviews with experts from financial institutions to

explore the link between sustainability and financial skills, as well as an event on financial skills and capital markets.

POLAND

An online quiz was made available for anyone to test their financial knowledge on the Kahoot platform, and for each quiz completed between March 21st to 25th, EBF donated 5 euros to the Czepczy ski Family Foundation in Poland which manages a reception centre welcoming Ukrainian refugee women with small children. The key innovative feature of this campaign was a lightning bolt-shaped installation placed at the heart of Brussels and European institutions where passers-by could test their financial skills via a 15-questions quiz, developed in collaboration with the GFLEC. Financial skills were made tangible, touchable and visible through this interactive physical installation.

Many countries used new or old games, adapting them to teaching financial education concepts

COLOMBIA

In Colombia, popular/traditional Colombian games such as “Parques” or “Bingo” were transformed into financial education games. This was a very successful strategy, since most of students were familiar with the traditional games and were able to readily interact and learn new concepts since they already knew the rules or instructions of the games they used to play.

EL SALAVDOR

El Salvador created a fair with stands and dynamic, interactive games, called the financial circuit “Build your future, be smart about money”. Different stands were installed in the complex of the Reserve Bank of El Salvador, each one with specific topics related to financial education, with the objective of developing a circuit of knowledge. On the closing day, a magic show and a batucada was presented with financial messages on stilts.

JORDAN

In Jordan, the Central Bank launched a “Financial Sector Monopoly” board game, where players could buy stocks in banks and non-banking financial companies that are subject to the Central Bank of Jordan’s supervision. The game aims at encouraging saving, investing and using safely digital payments.

LATVIA

Latvijas Banka (the Central Bank of Latvia) issued a 2 euro commemorative coin dedicated to financial literacy. The coin features a prosperity tree that can blossom for everyone if planted in the soil of financial literacy.

SPAIN

In Spain, the MAPFRE Foundation developed the online quiz “savings roulette” which can be played via social media networks. Money Compass Foundation in Hungary organised a financial “treasure hunt” (MoneyGo) in Budapest for school groups where students search for targets in the city and solve them to complete a mission.

TAJIKISTAN

The Central Bank of Tajikistan, together with United Nations for Migration/IOM organised several competitions for “best picture” and “best essay” for schoolchildren. In particular, children from rural areas from families left behind by immigrated parents were the focus of such a competition on the topic “What I can do with money?” Parents were also targeted through a workshop on the family budget.

THAILAND

As mentioned above, the Bank of Thailand developed a website called “Dear Future Me”, to provide a platform for people to visualize their future goals, write them down as if they were talking to their future-selves, be encouraged to consider how much it would cost to fulfil those goals and send those messages to the future-self in the form of e-postcards, which function as ones’ promise to self to achieve the specific goal.

“The age of technologies, with the huge amount of information flooding us every day, requires a new type of knowledge about money and its wise management, which goes far beyond what our parents have taught us. Thus, financial literacy has become one of the fundamental skills of the 21st century person, because our quality of life and achievements greatly depend on it.”

─ Petar (18), winner of the essay competition, Vocational Technical High School “Nikola Y. Vaptsarov”, Samokov, Bulgaria, GMW2016

Many countries increased their efforts to be inclusive and reach a wide range of students with different backgrounds and from different locations, especially those living in rural areas.

AFGHANISTAN

In Afghanistan, efforts were made by University of Central Asia to reach young girls through their activities, as currently young girls cannot attend high-school education in the country. From 112 participants aged 9-14, 68% were girls, especially from remote rural areas.

COLOMBIA

The Asociación Bancaria y de Entidades Financieras de Colombia (Asobancaria), carried activities during the GMW in 27 out of the 32 national departments in the country. For example, Asobancaria organised workshops with children and young people in rural areas, while paying special attention to ensure gender equity. Furthermore, workshops on life projects were organised for young people living in marginalized areas, with high rates of inequality and poverty.

EGYPT

To ensure inclusiveness of their activities, the Egyptian Banking Institute in Egypt inserted sign language to all its financial literacy videos and e-learning videos and organised special sessions for youth with physical, visual and hearing disabilities.

IRELAND

During GMW2022, the Money Advice and Budgeting Service (MABS) in Ireland delivered money management sessions to urban and rural schools and to schools in disadvantaged areas. Sessions were delivered to co-educational and single sex schools. Sessions were also delivered to disability training centres and also to training centres for early school leavers. Due to the COVID-19 pandemic, in certain schools online Zoom sessions were delivered. At the same time, MABS has a network of offices throughout Ireland, which helped in the delivery of money management education in person. This has been important, as digital delivery may not always be an option or may not reach those who may be most vulnerable or in need of financial literacy targeted programmes.

GERMANY

In Germany, expert talks hosted by Bundesverband Deutscher Volks- und Betriebswirte, the largest professional association of economists in Germany, discussed various topics. These ranged from social trading, career opportunities in the banking sector and intergenerational justice in taxation as well as ADHD in the context of money management. “Was verdient die Frau” together with Geldbiografien helped young women understand the importance of money with a focus on gender inequality.

KOREA

In Korea, financial education programmes were delivered by the Korean Financial Supervisory Service to students, to enable them to explore future career opportunities. Customised education initiatives for people with developmental challenges were organised in collaboration with welfare centres.

LYBIA

In Lybia, the Civil Society Commission organised student visits to young entrepreneurs to help them better understand how start-up companies work. Al-Ishraqa school for children with Down syndrome encouraged over 60 youth to save through setting up small enterprises and markets to selling their products; other similar schools were included in the campaign.