In the Central Bank of Bosnia and Herzegovina (CBBH), which led by the Financial Literacy Improvement initiative, a workshop was held dedicated to the integration of financial education in the education system in Bosnia and Herzegovina.
Representatives of public economic faculties in Bosnia and Herzegovina, Banking Associations of the Federation of BiH, the Federation Agency of the Federation of BiH, the Assurance Agency of Bosnia and Herzegovina, the Association of Insurance Companies in the Federation of BiH.
The introductory lecture was held by prof. Annamaria Lusardi, one of the world’s leading experts for financial literacy and professor of economics and accounting at Stanford University.
Lusardi is the founding and director Global Financial Literacy Excellence Center (GFLEC) and the author of numerous research in the field of financial education.
Lusarda pointed out the importance of financial literacy, as key life skills that contributes to better financial decisions and long-term financial security.
She emphasized that the Economic Cooperation Organization and Development (OECD) in 2012. recognized the importance of financial literacy and included in PISA testing, which measures key competencies of young people around the world.
She also presented some of the findings from PISA data, which show that countries actively invest in financial education achieve better results in financial literacy, which has a positive impact on social and economic stability.
She also emphasized the importance of integrating financial education to the school system, with special reference to experiences from Italy and the United States where different financial education programs contributed to strengthening financial literacy among young people.
The Governor of CBBH Jasmina Selimović emphasized that the improvement of financial literacy is one of the key strategic goals of the CBBH, which, as a state institution, be a leader in that project.
– Financial education is the basis for building a safe and stable financial system. By integrating financial education in schools, we want to provide young generations with young generations and skills that will help them make accountable financial decisions. This builds the foundations for the safer economic future of Bosnia and Herzegovina, the Governor Selimović pointed out.
In the second part of the workshop, participants participated in the creation of the Action Plan and the definition of the Guidelines for the Further Development of Financial Education in Bosnia and Herzegovina. Through a joint discussion, key priorities, challenges and steps are identified for the successful integration of financial education in the formal education system.
Full support is expected to support all involved actors, to ensure the effective implementation of planned activities and achieving the set goals, which is important for the long-term economic stability and development of the country.
It was concluded that it is necessary to intensify the cooperation of educational institutions, regulatory bodies and financial sectors to ensure quality and sustainable access to financial education.
The workshop was an opportunity for exchanging opinions and ideas and set the foundations for future activities aimed at strengthening the financial literacy of young generations in Bosnia and Herzegovina – the Central Bank of BiH said.
