Enhancing Financial Literacy of

the Population of the Republic of

BelarusYulia SakovichNovember 2014, Lisbon

FINANSIAL LITERACY

Increases public welfare

Contributes to economic

development

Help to improve living

standards

The importance of financial literacy

NB RB

AFI

‘Measuring the Access to Finance’

SPECIAL NATIONWIDE SOCIAL RESEARCH

Who and how uses financial services

0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

15 30 40 10 2

People who do not use financial services

People who use 1-2 financial services

People who use 3 financial services

People who use 4-5 financial services

People who use 6 and more financial services

Financial inclusion of individuals by type of service, %

Bank accounts Credits Deposits Insurances

Yes

No

VITEBSKI12.9

MOGILEVSKI13.9

GOMELSKI12.5

GRODNENSKI15.1

BRESTSKI29.0

MINSKI26.0

On average - 16.4%

REGIONAL DIFFERENCES IN THE USE OF DEPOSIT

0

10

20

30

40

50

60

70

80

90

100

64

85

68

36

15

32

517

34

44

Ability to calculate interest payable on the deposit account

Question on target inflation

Knowledgeof the current interest rate on bank depositsNo

Yes

All 3 answers are correct

2 answers are correct

1 answer is correct

All 3 answers are incorrect

Financial Literacy Survey, %

Joint Action Plan on EnhancingFinancial Literacy of the Population

Joint Action Plan

Ministries and departments

Banks

Academy of Sciences

Associations of the financial

marketMass media

Private companies

Internationalorganizations

Joint efforts provide for:

An example of the text• Special research

institutesActions to evaluate the

level of financial literacy of households

• Internet Portal on financial literacy

Actions to implement information policy in the field of finance

• Cooperation with mass-mediaActions performed in

the mass media

Joint efforts provide for:

An example of the text

• International Savings Day• Open Days• Implementation of the course

Plan your Future

Actions to enhance financial literacy in such spheres as

banking services, securities, insurance, taxation

• Special projects, events• Organizing a competitions

Actions to raise financial literacy in the workplace

• Child and Youth Finance Day • Activities for children• Special projects

Actions to raise financial literacy among

schoolchildren, the youth

COOPERATION WITH AFLATUN

In 2013 the National Bank and International Fund Aflatun signed an agreement on cooperation in the field of financial literacy. As a first result we managed to enhance financial literacy of 55 schoolteachers from different regions of Belarus

Celebration of Global Money Week – every year

.

Banks support this idea bypublishing books,

articles in the mediaorganizing open lessons,

seminars and so on

Role Belarussian banks in enhancing of financial literacy of children and youth

UNIFIED INTERNET PORTAL OF FINANCIAL LITERACY

In 2014 a National web portal was made where you can find materials, games, articles, handbooks in the field of financial education.

Actions to raise financial awareness of schoolchildren and the youth

.Cartoons talk about the basics of economy, help to develop the right attitude to money explain how to save, spend and invest it

Competition to develop a logo and slogan for the campaign of financial literacy

The winner is the slogan ‘Money likes smart people’

Social TV advertising to improve the financial literacy of the general population

Financial literacy ads on billboards

In 2014 the Call Center received 13,539 calls:8,408 – individuals5,131 – legal entities

Call-center of the National Bank

A report on the Call-Center activities is prepared every month and submitted to the member of the Board of the National Bank.

Plans :

Competition among university students of the Republic of Belarus for the best research work on economic issues

Holding an Open Day in the National Bank

Organizing a financial literacy school for teachers

Thank you for your attention!

Y.Sakovich@nbrb.by +375172183829