Financial Literacy Week in Ukraine. Everyone can join!

The National Financial Literacy Week in Ukraine is initiated by the National Bank of Ukraine.

The initiative of the National Bank to celebrate Financial Literacy Week generated much support among banks and higher and secondary educational institutions, NGOs, financial associations, libraries, and so on.

According to First Deputy Head of the National Bank of Ukraine Boris Prikhodko, the measures to improve the financial literacy of citizens of Ukraine is a way to enhance the protection of their rights as consumers of financial services. Even in developed countries people are not always able to properly assess the potential risks, so from now on financial literacy is one of key and necessary skills in everyone’s life.

In November 2013, in all regions of the country, specialists of the territorial departments of the NBU, banking associations, the University of Banking of the NBU, banks and other organizations participating in the celebration will be conducting for Ukrainians of all ages and social status interactive sessions, open days at banks and other educational events.

The main tasks of the National Financial Literacy Week will be providing explanations on family budget, the basic principles of financial accounting, formation of habit of savings and investment, providing accurate information about basic financial products that can help you realize your plans. Raising awareness on issues of finance allows, in particular, to reduce the use of consumer credit risk, to prevent fraud, to understand the benefits of savings instruments offered by financial institutions and others.

The higher the level of financial literacy is, the more confident a person will feel in today’s world. In addition, the level of financial literacy of population largely affects the economic development of each family and Ukraine.

Source – the National Bank of Ukraine