Monday, September 30 2013 18:05
Central Bank of Armenia declares October a month of efficient personal finance management on occasion of World Savings Day
ArmInfo. The Central Bank of Armenia (CBA) has declared October a month of the My Finance Program dedicated to efficient personal finance management. At a press conference on Monday, Armenak Darbinyan, member of the CBA Council, said that the program was launched on September 30 and will last till October 31, World Savings Day.
The program includes a number of events aimed at enhancing the financial awareness of the population and protecting the interests of consumers of financial services. In particular, the program will raise the public awareness of correct management of personal savings and familiarize the citizens with the financial market products. "The correct and competent personal finance management is the pledge of well-being and, subsequently, growth of financial intermediation in the country", said Darbinyan. He thinks that such events are especially important in the marzes (regions) of the country, where the residents do not make use of financial services due to the lack of financial awareness. The given initiative will become the basis of the national strategy of financial education and will be held annually.
Samvel Chzmachyan, Head of the Union of Banks of Armenia, said that the program will include a number of educational and information events, particularly, competitions, games, public opinion polls, films, excursions, seminars, lectures and interactive events at the secondary schools and higher education institutions of both Yerevan and the marzes of Armenia. The financial organizations will hold Doors Open days. Special attention will be paid to the pension reforms.
The participants in the program are the Central Bank of Armenia, Deposit Insurance Fund, USAID, Union of Banks of Armenia, Union of Credit Organizations of the Republic of Armenia, Financial Ombudsman of Armenia, Motor Insurers' Bureau, NASDAQ OMX Armenia, KfW Bank, Savings Banks Foundation for International Cooperation, as well as Armenian commercial banks, credit and insurance companies.
The World Savings Day was established on October 31, 1924, during the 1st International Savings Bank Congress (World Society of Savings Banks) in Milano, Italy. The Italian Professor Filippo Ravizza declared this day the "International Saving Day" on the last day of the congress.
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