National Financial Literacy Initiative Set to Launch in Kazakhstan

by | 01/13/14 | Commentary, Uncategorized

Kazakhstan is one step closer to rolling out a major financial education program targeting all of the nation’s citizens, with an expected launch this coming February.  The educational initiative is being sponsored by the International Centre for Economic Literacy and will teach basic financial, economic and money management concepts and skills to Kazakhstani citizens.

The Centre, which is the country’s first NGO devoted to financial literacy, intends to address data that shows that while approximately ninety percent of Kazakhstanis need or use products and services in the financial sector, a much smaller portion of the populace is familiar with key financial terms such as annuities and leasing.  The data further shows that basic financial literacy concepts, such as personal financial welfare and financial security, are not thought about by a significant percentage of the citizenry.

A very broad coalition has formed to support and implement the initiative, including Kazakhstan’s financial institutions, economists, financiers, consultants and others who will play varying roles in connection with the program.  The group is committed to a comprehensive execution of the campaign and has included several elements and channels as part of the rollout, including educational sessions, training programs, textbooks, interactive services, games, and other components designed to reach the greatest number of individuals.

Financial literacy professionals are watching this Kazakhstan initiative closely, as there is a pervasive belief that its success could prompt other nations in Central Asia to move forward with similar projects to improve the rates of financial literacy throughout the region.

Become a Member

Join financialcorps today to get access to exclusive content, networking community, and inside information to the world of financial literacy.

Subscribe

to the top financial literacy news from the world’s leading financial education funders, news sources, analysts and commentators, e-mailed to you FREE.