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English   Srpski  Bank Training Center > Financial Education > European and Global Money Week

EUROPEAN MONEY WEEK 2018: PROMOTING FINANCIAL EDUCATION

Financial education is set to take the spotlight across Europe from next Monday as national banking associations in more than 30 European countries embrace European Money Week to reach thousands of young people with activities to boost financial literacy.

It will be the fourth time that the European banking sector organizes this event at the initiative of the European Banking Federation from Brussels. Last year, the European Money Week reached more than half a million young people with over 16.000 activities – ranging from classroom teaching sessions to full-fledged conferences – all related to financial education.

The European Money Week seeks to boost public awareness on the benefits of financial education at a time that low levels of financial literacy are increasingly perceived as problematic, especially given the rapid emergence of financial technology that emphasizes the digital nature of money. The global benchmark survey on financial literacy (OECD PISA survey: www.oecd.org/finance/financial-education/oecdpisafinancialliteracyassessment.htm), last year again showed that one in four students in developed economies are not able to make even simple decisions on everyday spending.

"Not only as bankers but also as parents and educators we strongly believe that there is a real need to better equip our young people for their future," said Wim Mijs, Chief Executive Officer of the EBF. "Anyone who wants to prosper in our increasingly complex society will need at least a basic understanding of financial concepts. Financial education is almost like learning to drive a car. Accidents will happen if that is not taught properly."

The Association of Serbian Banks, having chosen financial education as its continuous orientation, organizes the European Money Week in Serbia in cooperation with the banks for the third time. This year’s activities include the ASB Credit Bureau workshop concerning complaints and user protection through financial education, the appropriate lecture for the first-grade and third-grade elementary school pupils about the role and function of money, as well as the lecture for the first-grade high school students from Šabac, concerning personal finance management. Traditionally, the ASB representative will attend the European Money Week opening ceremony, to be held in the form of a Panel and Roundtable in Brussels on 12 March 2018, which will, at the same time, mark the opening of the European Money Week in Serbia.

The European Banking Federation launched another initiative aimed at financial literacy this year – i.e. the European Money Quiz. School classes with 13- to 15-year old children in dozens of European countries have been invited by the national banking associations to play this quiz. In Cooperation with the Ministry of Education, Science and Technological Development, the Association of Serbian Banks has been implementing this project in Serbia, hence the national competition within the European Money Week, on 16 March 2018, will gather 77 classes from 51 schools across Serbia. The eighth-grade elementary school and the first-grade high school students will get a chance to outsmart other classes in their country in the live national contest hosted via the Kahoot! online learning platform. The winning class will be invited to play the European Money Quiz finals on 8 May 2018 in Brussels, and the Association of Serbian Banks will cover the travelling costs for the two of its representatives and the accompanying person.

For the detailed program of the European Money Week 2018 click here, and for more information about the European Money Quiz click here.

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