World Savings Day: with education towards the youth financial literacy

On the occasion of the World Savings Day, which is celebrated every year on October 31, the Central Bank of Bosnia and Herzegovina organized an education for students this year, adapted to the current situation.

A novelty in marking the World Savings Day is that this year the Central Bank of Bosnia and Herzegovina launched a pilot project of cooperation with three selected high schools, which aims to enable high school teachers to perform financial education as an optional teaching activity, by exchanging experiences and training. The interest to be an integral part of this project and to be involved in its realization was expressed by the principals and teaching staff of the Sarajevo Third Gymnasium, the Secondary School of Economics in Sarajevo and the Secondary School of Business, Commerce and Trade in Sarajevo. During the visit to the Central Bank of Bosnia and Herzegovina, which was held today, October 28, 2021, professors of these schools were given guidelines and presented the content of developed educational modules that will apply in financial education in their schools, given explanations of key concepts of financial literacy, the practical significance of this type of education, and expected results. The Central Bank of Bosnia and Herzegovina expresses its satisfaction and gratitude to the teaching staff and management of these three High schools for recognizing the importance of financial education and the desire to become personally engaged in this process.

As a practical presentation of the manner of these educational activities implementation, as well as the educational content itself, professors attended the online education for young people which, on the occasion of World Savings Day, was held for students of Fra. Grga Martić High School from Mostar and Public Institution School of Economics from Brčko. The presentation to the students of these High schools was focused on lectures on the skills of responsible personal financial management, and how to use basic financial products and services. As part of the celebration of World Savings Day, on October 29, 2021, a visit of the representatives of the Central Bank of Bosnia and Herzegovina to the Elementary School Safvet-beg Bašagić in Sarajevo will be organized, and on that occasion the presentation will be held, while the students will be informed about the importance of savings.

This, somewhat differently organized form of marking the World Savings Day, is an integral part of financial education conducted by the Central Bank of Bosnia and Herzegovina in recent years with the aim of strengthening financial inclusion through responsible financial management for the benefit of economic development and growth of Bosnia and Herzegovina.

All activities are implemented within the project Promotion of Financial Education and Inclusion implemented by the Central Bank of Bosnia and Herzegovina with the support of the European Fund for Southeast Europe - Development Facility.