As part of efforts to implement the Action Plan to raise the level of financial literacy among the general public for the second half of 2014, which was approved by Ordinance No. 138-оd dated August 19, 2014 issued by the National Bank of Ukraine, the National Bank of Ukraine invites public organizations, professional associations, banking and financial institutions, commercial companies, central and local government agencies to participate in the events that will be held in Ukraine as part of the All-Ukrainian Financial Literacy Week and World Savings Day celebrations.
The World Savings Day will be marked in Ukraine on 31 October, and the All-Ukrainian Financial Literacy Week will be launched on 3 November this year.
The main objectives of the All-Ukrainian Financial Literacy Week and the World Savings Day are to raise public awareness about the family budget management, the main principles of financial accounting, to promote a savings and investment culture, and to provide the public with credible information about the main financial products needed to materialize their plans.
As part of the All-Ukrainian Financial Literacy Week, the NBU's partners are expected to conduct educational events targeting different age and social groups based on the guidelines and scripts devised by the National Bank of Ukraine that have been tailored to address specific areas of interests of target audiences. The educational materials are available in the "Annual financial literacy week" section of the NBU's website.
Last year hundreds of organizations operating in various regions of the country accepted the invitation by the National Bank of Ukraine to participate in the events held as part of the All-Ukrainian Financial Literacy Week. They conducted educational events initiated by the National Bank of Ukraine for schoolchildren, students, young families, sole proprietors and pensioners. We recommend that this year banks hold Welcome Days in their branch offices during the All-Ukrainian Financial Literacy Week on the basis of specially developed guidelines.
All interested partners who have experience, resources and willingness to conduct topic-based interactive classes for different social and age groups are welcome to join the events that will be held as part of the All-Ukrainian Financial Literacy Week. Please communicate your intentions to the regional branches of the National Bank of Ukraine that will provide organizational and information support to the partners.
Effective cooperation between government agencies, financial market players and public organizations in implementing the socially important initiatives launched by the National Bank of Ukraine to raise the level of financial literacy among the general public will help people build savings and money management skills and ensure effective financial services consumer rights protection.
Information on the World Savings Day
The history of the World Savings Day started in Milan, where representatives of savings banks from 29 countries convened for the 1st International Savings Bank Congress, which began on October 27, 1924, and lasted until October 31. On this very day, one of its participants – the Italian Professor Ravizza proposed to mark the International Savings Day annually in memory of the 1st International Savings Bank Congress. As it was conceived by the organizers, this day should be devoted to the promotion of thrift in broad sense of the word – from saving money and time to showing a caring attitude towards items of property and natural resources. This day aims to stimulate the idea of saving money and planning expenditures. The idea is for the banks to be open, so that the people are able to transfer their savings into their accounts.
In 1989, the United Nations officially declared 31st October as World Savings Day.
In 2012, The World Savings Day was first marked in Ukraine, with the participation of over 20 banks. On that day, these banks offered their customers special terms and conditions of deposit agreements and provided their customers with additional information on financial institutions' activities. This day offered citizens an opportunity to raise the level of financial literacy and improve the financial well-being of their families, while banks were given the chance to attract new customers and boost public confidence in their business.
In 2013, the National Bank of Ukraine suggested that public organizations and other partners conduct educational events to raise the level of financial literacy among the general public on the basis of guidelines and scripts specially developed by the National Bank of Ukraine. In view of the great interest shown by the public in this initiative, it was decided to implement it in 2014.