Empowering Financial Inclusion through Financial Education
29 June 2018
Rogner Hotel Tirana
The need for financial education and its importance for financial inclusion has been acknowledged by all possible stakeholders, policymakers, bankers, practitioners, researchers and academics across the globe. Higher degree of awareness and understanding of banking and financial products is the first step forward creating demand and increasing adoption. The issue of financial literacy is not as simple as it sounds. It requires an understanding of the information gap across consumer segments, banked and unbanked, and crafting communication strategies that address the unique need of specific segments. Besides addressing information gaps focus should be also on designing products which understand the unique characteristics of the target segment such as low financial literacy, cyclical income, minimal collateral, lack of credit history, absence of formal and verifiable identity, illiteracy, etc.
Objective of the activity
To come to a common understanding that financial education creates demands for financial product and services, thereby accelerates the pace of financial inclusion as it enables the common man to understand the needs and the benefits of the products and services offered by the banks and financial institutions. The principal reason for improving financial education is the impact it has on financial inclusion and stability of the country.
AAB Members Banks, Bank of Albania, Ministry of Education, Sport and Youth, National Youth Service, Child and Youth Associations, State Institutions, Financial Sector NGOs, ect