This year, as part of Financial Literacy Week and the celebration of World Savings Day, the National Bank of Ukraine has conducted for the first time the Financial Literacy Quiz Competition (hereinafter – the Quiz), which was aimed at encouraging the public to gain some insight into finances rather than identifying the level of financial awareness among the general public.

"A young person who studies at a secondary school specializing in Maths, Physics, Chemistry or foreign languages has no prospects for a decent future unless he or she is equipped with elementary knowledge and skills required to use various financial products and services. Only a financially literate person can secure a comfortable life and well-being," noted Acting Director of the General Economic Department Olena Kovalenko.

The National Bank of Ukraine welcomes all Ukrainians who have participated in the Quiz Competition. 63 participants out of 1,943 entrants to the Quiz Competition have given the correct answers.

The quiz consisted of five blocks of questions: “General economic questions”, “Ukrainian banking system”, “Protection of the interests of banks' depositors”, “Banking services”, “Family Budget and savings”.

Under the terms of the Quiz Competition, the first three entrants to have given the correct answers to the Quiz were deemed the winners. Below is the list of the winners:

• Mykola Makotsioba.
• Oleksandr Tsygolko.
• Vitalii Lesivtsiv.

The prize-awarding ceremony will take place at the headquarters of the National Bank of Ukraine and the regional branch of the National Bank of Ukraine in Lviv oblast.

Presently, improving financial literacy among the general public is one of the key activities of the National Bank of Ukraine. We will remain involved in efforts to keep Ukrainians from making ill-considered financial decisions. Ukraine is firmly set on the path towards the European integration, and in order to accelerate this process we have to build an efficient and reliable financial system. This goal can be achieved if we have the financially literate public – the main consumers of financial services.

We believe that our first experience in conducting this Quiz Competition proved successful. Therefore, we will further develop this initiative, making it an annual event.