Ulaanbaatar
Mongolia launches Global Money Week-2021
Economy
Ulaanbaatar/MONTSAME/. A ‘Global Money Week’ campaign, being
organized by OECD International Network on Financial Education, was launched in
Mongolia yesterday, March 22.
GMW is an annual global awareness-raising campaign on the
importance of ensuring that young people, from an early age, are financially
aware, and are gradually acquiring the knowledge, skills, attitudes and
behaviours necessary to make sound financial decisions and ultimately achieve
financial well-being and financial resilience. This year’s official slogan of the
GMW is ‘Learn.Save.Earn’. The Bank of Mongolia has been organizing the campaign
since 2013 with aims to support the financial literacy of children and youth.
This year, the Bank of Mongolia, the Ministry of Education
and Science, the Deposit Insurance Corporation, the Mongolian Banking
Association, the Department of Family and Youth, the National Center for
Lifelong Education, the Federal Republic of Germany’s ‘Sparkasse’ bank fund in
Mongolia and commercial banks are working together to implement the campaign
between March 22 and April 12. The inauguration of the event took place online
yesterday, March 22.
During the online event, the participants held a discussion themed ‘The present state of financial literacy in Mongolia and future tendency’. In his opening remarks, Vice Governor of the Bank of Mongolia G.Enkhtaivan emphasized, “Since 2016, the Bank of Mongolia has been successfully implementing a public financial literacy program in cooperation with other organizations. Having financially literate citizens influences a country's economic stability. Therefore, the central bank has included the policy of financial literacy in its monetary policy document since 2013”.
He also said that it is so praisable to conduct the campaign
during the pandemic when people necessitate learning how to save for an emergency,
how to save money, how to protect themselves and their families from financial
fraud, how to choose the right financial products and services in time of
emergency, and how to make the right investments.
During the campaign, co-organizers organize events themed ‘How
to manage money?,’ ‘Personal finance and household budget,’ ‘Expenses and
savings’ and ‘E-money’.
