Improving Consumer Financial Education

Description

Financial education is a very important decision tool for consumers living in an increasingly sophisticated and globalized financial market, enabling them to budget and manage their income, save, borrow and invest efficiently, understand and protect themselves against specific risks and as well as avoid becoming victims of fraud.
Financial education promotes also competition among financial intermediaries and ensures the smooth functioning of financial markets and the economy.
Consumer education is a policy instrument for authorities to contribute to a sustainable growth in financial intermediation activities and a marketing tool for financial institutions to build robust client relationships.

Updated on: May 12, 2009

Current Status

SPI Secretariat is preparing the proposals for a National Strategy and for a medium–term, structured and nation-wide for Consumer Financial Education program to be finalized in the third and final PWG meeting to take place in April.

Output

• SPI Secretariat PWG Evaluation Summary Findings

• Improving Consumer Financial Education Final PWG Recommendation

• Draft National Strategy for Improving Consumer Financial Education

• Proposed Medium Term Action Plan for Imporoving Consumer Financial Education

• Note on Alternative Funding Sources

• Presentation of the CostBenefit Qualitative Analysis

• Presentation of Note on Albanian Experience

• Presentation of SPI Albania and Introduction of Participants

• Draft Note on International Experience

• Scoping of the Problem Document

 SPI Committee Enactment Correspondence

 • Signed SPI Committee Letter on Consumer Financial Education to Ministry of Economy

Management

Members

Terms of Reference

• ToR

Project Working Group Meeting Agendas, Documents and Minutes