OREANDA-NEWS. December 21, 2009. ZAO Citibank was awarded with a diploma of honor for its contribution to improving financial literacy of Russian citizens. The press conference on development and perspectives of financial literacy in Russia that was hosted by Andrey Khazin, Member of the Russia Federation Council, and Vladimir Milovidov, Head of the Russian Federal Service for Financial Markets (FSFM), was devoted to the results of the all-Russia federal Program on Financial Culture and Security of Russian citizens. The most prominent companies that operate in this field were recognized. Citi is the only bank that received this award, reported the press-centre of Citibank.

Financial education and improving financial literacy are embedded in the strategy of the Citi Foundation, which supports all social programs of ZAO Citibank. One of Citi's latest initiatives in this sphere is a joint project with the New Economic School that was launched in late November. The project consists of 3 parts:

survey on financial literacy that was conducted by NES this autumn;

first ever popular book on financial literacy in Russia;

special educational course on financial literacy that will be taught in 5 regional universities (Rostov, Nizhny Novgorod, Yekaterinburg, Volgograd and Samara).

Nataly Nikolaeva, Vice President of ZAO Citibank, Head of Regulatory Relations, said: "This award is very important for us. We believe that improving financial education has to be on the list of key priorities for any socially responsible financial institution. We are happy that our efforts to improve financial literacy in Russia found recognition and support on a federal level."