Peru

GMW national coordinator: Superintendencia de Banca, Seguros y AFP (Superintendency of Banking, Insurance and Private Pension Fund Administrator (SBS)) Participating organisations: Museum of the Central Reserve Bank of Peru (MUCEN), Superintendence of Securities Markets (SMV), Insurance Deposit Fund (FSD), Insurance Cooperative Deposit Fund (FSDC), National Institute for the Defense of Competition and Intellectual Property (INDECOPI), National Superintendence of Tax Administration (SUNAT), National Library, Municipality of Lima, Pension Standardization Office (ONP), Productive Development Program – AGRORURAL, Ministry of Economy and Finance (MEF), Ministry of Education (MINEDU), Congress of the Republic of Peru, Elder Center - CAM La Merced, Elder Center - CAM San Ramón, Surco Municipality, Peruvian Association of Insurance Companies (APESEG), Banks Association (ASBANC), Peruvian Federation of Cajas Municiales of Savings and Credit (FEPCMAC), Grupo BVL, Banco de la Nación (National Bank), Bank Falabella, Bank Pichincha, Bank Continental BBVA, Bank BanBif, Compartamos Financiera, Financiera Proempresa, Financiera Efectiva, Financiera Confianza, CMAC Trujillo, CMAC Cusco, CMAC del Santa, CMAC Huancayo, CMAC Ica, CMAC Maynas, CMAC Paita, CMAC Piura, CMAC Sullana, CMAC Tacna, Caja Lima Metropolitana, CRAC Los Andes, CRAC Raiz, Pacifico, Abaco, World Vision, International Plan, CEDRO, CARE PERÚ- PROJECT IGNITE, Movimiento Manuela Ramos – CREDIMUJER,ONG KALPA, Ferreycorp, NTT Data, Acomo, Cambia FX, Palgo, Tasatop, Tkambio, BIM, PUCP - Pontificia Universidad Católica del Perú, USIL - Universidad San Ignacio de Loyola, the OECD, World Council of Credit Unión (WOCCU), Peace Corps, Sparkassenstiftung fur Internationale Kooperation, DSIK Honduras, DSIK México, Alliance for Financial Inclusion (AFI), Banco de desarrollo de América Latina- CAF, UNESCO Perú, CGAP, CERTUS, SISE, BURSEN-Centro de Estudios Financieros de BVL, Khipu Institute ABC del BCP, Finanfieras, Klaseuno, Peruvian Studies Institute (IEP), Fundación BBVA Microfinanzas, Junior Achievement Perú, OLPASA - ASPASH de Aguaytia, 100 schools, 28 media companies Total number of participating organisations: 211 Number of children and young people reached directly: 256,140 Number of adults reached directly: 5,210,964 Number of people reached indirectly: 7,982,803

During Global Money Week 2022 in Peru, the Superintendence of Banking, Insurance, and Private Pension Fund Administrators (SBS), in coordination with several institutions, joined forces to promote savings and financial education throughout the country. GMW is in line with the priority of the National Policy for Financial Inclusion to generate greater confidence in the financial system. It seeks to promote the financial education of children, youth, and their families through non-formal learning spaces that will help them learn more about the financial system so that they have confidence to interact with it in the future.

This year, the GMW reached 256,140 children and youths, and almost 8 million Peruvians thought the participation of 211 entities from all over the country, including public and private entities and NGOs. The main activities were carried out through a digital platform that hosted a virtual saving fair, academic conferences, talks and workshops. In addition, talks to educational institutions located in rural areas, training in financial education for migrant and refugee populations, women entrepreneurs and young professionals were also held.

The Superintendent participated in the launch of GMW worldwide on March 21. She also inaugurated the national GMW with the Minister of Economy and Finance. The Peruvian GMW had a synchronous cycle of 27 academic conferences, talks and workshops with national and international experts that reached 6,309 visitors. The academic conferences covered the following topics: Post-COVID-19 financial system, gender gaps, evaluating financial education initiatives, financial inclusion trends, financial capabilities of micro-entrepreneurs and others. Moreover, the talks and workshops for citizens and children focused on savings, frauds, budget and others.

The digital platform was used to host a fair with 56 virtual stands distributed in four pavilions. During six days, the virtual stands received 59,285 visits. The participants showed their financial education initiatives, providing downloadable educational material, videos, podcasts, games and online chat. The platform allowed attendees to take part in the “Financial Rally” that consisted of visiting the stands, playing games, participating in talks and conferences while testing their knowledge. In this section, 1,034 people entered the rally.

Additionally, many organisations, including banks and other financial institutions, shared information about the events, through video reels on topics related to GMW and savings on their closed-circuit television screens. For example, Banco de la Nacion included participants both in cities and in rural areas. Messages were disseminated through social networks, institutional portals and mailing lists. Over 244 activities were planned. Some involved virtual tours in the Central Reserve Bank Museum, talks with people with special needs, workshops, contests, and more.

GMW2022 has helped to improve monitoring and evaluation of the initiatives in Peru. In 2022, SBS explored financial education profile of the users of the SMA, which enabled SBS to improve the content based on the needs and expectations of the users. To do this, the SBS developed a questionnaire to determine the level of inclusion and financial education of SMA users, using some of the questions proposed by the OECD/ INFE. The results showed that users are mostly young: 45% are 30 years old or younger, and they reach a level of inclusion and financial education well above the national average. Moreover, it is visible that the platform is an initiative accessed mostly by people with previous financial education understanding who seek to deepen their knowledge and financial opportunities.