Cooperation towards Increasing Financial Literacy
12/07/2024
At the invitation of the CBCG, representatives of the institutions that signed the Memorandum of Understanding on Implementing the Programme for Financial Education Development in Montenegro 2023–2027 held a meeting today. Financial education implies a closer understanding of financial concepts and the development of skills to manage personal finances better.
At the meeting, they discussed the prior activities in financial literacy of Montenegrin citizens and plans for the next period. They highlighted that as the coordinator of implementing the Programme, the CBCG has recognised financial literacy as crucial for the economic development and well-being of Montenegro’s citizens.
The meeting participants agreed that synergistic action, which will ensure the exchange of knowledge and experience with the rational use of resources of all parties, is of utmost importance to achieving results in financial literacy. It was also stated that modern financial education channels should be promoted in the dynamic development of technology, and interactive and stimulating educational programs should be designed. It also concluded that financial education activities should be aimed at other population categories apart from children and young people, such as entrepreneurs and pensioners, considering the increasingly diverse range of financial products and services.
In addition to the CBCG representatives, the meeting participants were the representatives of the Ministry of Finance, the Insurance Supervisory Agency, the Association of Montenegrin Banks, the Innovation Fund, the Chamber of Commerce of Montenegro, the Montenegro Stock Exchange, the Center for Finance, the Central Clearing Depository Company, the University of Montenegro, and the University of Donja Gorica. Moreover, at today’s meeting, the Science and Technology Park, the Technopolis Innovation and Entrepreneurship Center and the NGO Center for Youth Education joined the Memorandum, further strengthening the capacities for the efficient implementation of the Programme. The Memorandum, signed by 21 institutions so far, serves as a platform for connecting, exchanging information and coordinating activities to improve financial literacy.
The meeting participants expressed willingness to continue and intensify financial education activities under their competencies. In addition to the activities the Memorandum signatories conduct independently, they have also announced inter-institutional partnerships and new projects to improve financial literacy in Montenegro.