OREANDA-NEWS. December 15, 2014. The Center for Research and Development of the CBA initiated traditional 31 October World Savings Day (WSD) and a follow-up Financial Literacy Month was organized in current year as well.

The event was attended by representatives of the Deposits Insurance Fund, the German Savings Banks Foundation for International Cooperation and the Azerbaijan Banks Association, as well as a number of banks and NBCIs.

The key reason why we celebrate the WSD and hold various educational events within the Financial Literacy month is to raise awareness of the population on economic and financial issues.

Students of high schools were target audience during current year events. Bank employees and organizers paid visits to over 50 schools in Baku and regions. About 3000 students were informed on significance of savings, formation of savings habits, efficient utilization of finances, and proper financial decision-making followed up by presentations on banking, finance and other economic topics.

Facilitators distributed the ‘Student’s personal budgeting’, ‘Savings’ book, various brochures reflecting banking – financial activities, and moneyboxes, bags, notepads, pens and different gifts with the WSD symbol to students.

The Azerbaijan Banks Association broadcast social video and a song on ITV dedicated to formation of savings culture and raising financial literacy as a whole.

Also, project participant banks and NBCIs held Open Door days in their branches located in the Baku city and regions, and met with broad public, students, and young families. Guests were informed on the banking sector, loans, budgeting, and other issues, followed by G&A sessions, and they received various brochures and books. Moreover, public actions were held in markets with the ManatMan – the WSD symbol.

To note, 31 October – the World Savings Day was first celebrated in the country in 2012 at the initiative of the Central Bank of the Republic of Azerbaijan.