Central Bank: my finance month program in Armenia aimed at enhancement of population’s financial awareness

08.11.2013 18:42
Central Bank: my finance month program in Armenia aimed at enhancement of population’s financial awareness

YEREVAN, November 8. /ARKA/. Nerses Yeritsyan, deputy chairman of the Central Bank of Armenia, speaking Friday at the ceremony of closure of My Finance Month program in Armenia, said that this campaign was aimed at enhancement of financial awareness among the country’s citizens.

The campaign was being run throughout entire October.

Another aim of the program was to show new products of Armenia’s banks to the population.
The events on the agenda were divided into four groups – Finance for Children (informing school students about financial problems); Debt and Loan (debt management and sources, mortgage and other loans); Insurance (kinds of insurance, their advantages and disadvantages) and Deposits (functions and management of deposits).

Yeritsyan said that the central bank remains stuck to its policy of protection of clients and enhancement of their financial awareness.

He said that positive feedback proves success and shows the necessity to make this program regular.
“Nowadays financial awareness shouldn’t be underestimated, since the latest financial crisis was caused by people’s low financial awareness,” he said. “More than 40 developed and developing countries concentrated their efforts on this matter.”

Yeritsyan said that the financial sector’s all organizations, particularly private, state-owned and international, took part in the campaign. Events were held in Yerevan and provinces.

“During direct contacts with specialists, citizens got answers to their questions and professional advice,” he said.

Armenak Darbinyan, a member of the central bank’s board, on his side, said that educating events, contests and seminars were conducted.

The central bank conducted four thematic contests as part of the program - Contests will be conducted from October 1 to 18 in four formats. The first theme, Life Insurance, will be developed through a comic that doesn’t exceed three A4 pages. The author of the best comics will get 150,000 drams as prize. The winner in photo contest named Savings will get 100,000.

The winner of the contest for the best phone application designed for planning budget got 150,000 drams.

One of the most interesting contests was for drawings and paintings on themes I and Money or Money in My Family. This contest was intended for children below 14.

The program was organized by the Central Bank of Armenia, USAID Finance for Economic Development Project, the Armenian Financial Ombudsman, Armenia’s fund for protection of deposits, bureau of car insurers, the Union of Banks of Armenia, the Association of Insurance Market Participants, Mortgage Market Participants, the Union of Credit Organizations, NASDAQ OMX Armenia stock exchange as well as Germany’s KfW Bank and SBFIC. ----0----


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