2017 Nepal Global Money Week

Leading Organizations:
Nepal Prosperity Institute
Nepal Rastra Bank (Central Bank of Nepal)
Participating Organizations:
Ministry of Education
UNICEF Nepal
Child Workers in Nepal Concerned Centre
Nepal Bankers Association
National Planning Commission
Ministry of Finance

Nepal Prosperity Institute (NPI), in partnership with the Central Bank of Nepal, celebrated Global Money Week 2017 in Nepal by organizing various events, programs, and activities aimed at generating interest and awareness among children and youth towards financial education and responsible financial management. GMW2017 in Nepal reached out to children and youth in the most remote districts and regions of Nepal with the message of "Learn, Save, Earn", the theme of this year's celebration, by engaging them in activities that enhance their knowledge and ability to exercise better financial management and livelihood. The celebration also aimed to enhance the connection between financial institutions, financial regulating agencies, and the general public so that more people are at ease while interacting with the formal financial institutions.

The GMW2017 celebration in Nepal was laid out well by having pre-GMW preparations through a three day non-residential training of trainers on the issue of financial literacy. The training focused on subject matters like good spending habits, saving, investment, access to finance, financial discipline and negotiation, self-employment, skill assessment, remittance, self-budgeting, and facilitation skills. These trainers were then tasked to engage with the celebration of Global Money Week.

The trained volunteers were mobilized to 20 districts across Nepal to conduct programs for one school per district, across all the five development regions of Nepal. These districts have been selected based on the absence of financial literacy school campaigns, the presence of Sakchhyam, Access to Finance Program, and low saving habit rate. The programs conducted in each school had 3 hours of interaction with the school children (from grade 6 to 10) on the content the trainees learned during the training. The trainers worked in groups of two, accompanied by one resource person from Nepal Rastra Bank's regional offices.

Also within the 20 districts in collaboration with the local banks, the volunteers organized a savings campaign. The volunteers coordinated with local people/villagers in a meeting where officials from various banks came to present their saving schemes and help the participants open bank accounts on the ground. This campaign was promoted as "Saving Helps You: Bank Comes to You". Volunteers also organized local events together with the local participants. At least 25 new bank accounts were opened per district.

For aspiring youths and students, job-shadow activities were provided as a platform to discover their passion and learn insights about their possible future career. During their job-shadowing, the trainees shadowed a high-end professional for a day, while the professional involved the trainee in his/her daily work activity, meetings, and avenues. Following the shadowing, the trainees developed a brief report. Various financial institutions have participated in these activities and have allowed their employees and the youth to interact throughout the week.

A GMW Closing Ceremony was also hosted by the Nepal Rastra Bank for Global Money Week. In the morning session, a roundtable discussion with the stakeholders of financial literacy and inclusion was conducted to identify and put forward policy recommendations. A recommendation paper will be drafted on the basis of the analyzed context and recommendations and will be handed over to the policy institutions like NRB, National Planning Commission, and Finance Ministry, among others. The afternoon session brought dignitaries, policy makers, bankers, entrepreneurs, volunteers and representatives of development partners. Winners in school competitions such as essay and poster-making competition per development region were also awarded during this time. At least 200 participants were estimated in the event.

In addition to all these, various audio-visual materials were also released nationally by the Nepal Prosperity Institute to promote Global Money Week, financial literacy, and financial inclusion. One thousand copies of posters and visual materials were also co-released by the Nepal Prosperity Institute and the Nepal Rastra Bank to promote Global Money Week and money awareness. In addition, children were given the opportunity to visit the Central Bank of Nepal and a special session was held with the Governor of the Central Bank.


2016 Nepal Money Week

Leading Organizations:
Nepal Rastra Bank
Artha Foundation: For Economic and Financial Research
Participanting Organizations:
Ministry of Education
UNICEF Nepal
Child Workers in Nepal Concerned Centre
NMB Bank
SBI Bank
Rotaract Nepal
Interact District Council 3292 Bhutan Nepal
Private and Boarding School’s Organization, Nepal (PABSON)
CYFI Youth Country Representative / Global Money Week 2016 Ambassador
Aflatoun
CWIN (Aflatoun partner)
Date of the event:
14th - 18th of March
Total number of children & youth engaged: 36 400
Total indirect reach: 35 000

The Nepal Rastra Bank (NRB), has continuously supported the mission of CYFI and is continuing to advance financial literacy of young people as one of its priorities, led the Global Money Week 2016 celebrations in the country, partnering with multiple institutions such as the Ministry of Education of Nepal. The national celebration of Global Money Week was marked by the annual financial literacy rally that invited several partner institutions from the government, financial institutions and civil society organizations to raise awareness and promote action to advance financial literacy for young people in Nepal. In addition to this, multiple banks, under the promotion of NRB, participated through organizing visits to schools to educate young people to the basic ideas about banking services such as savings accounts and other financial products for when they grow older. Additionally, a roundtable meeting linked stakeholders with common interests in creating and sharing ideas on the importance of financial education, methods that can be used in order to deliver financial education, and ways to disseminate financial education.

The Child Workers in Nepal Concerned Centre (CWIN) coordinated various activities which focused on social and financial education for children: For example, CWIN organized:

  • Trainings for children who have previously participated in social and financial education programs to develop and create grassroots comic books about their own stories of their journey through social and financial education, which were exhibited and shared with children from other schools to be able inspire their peers.
  • Dramatizations for social and financial education, run by the Self-Reliance Center for Young People. These dramatizations and accompanying trainings aimed to empower children and youth livelihood skills, vocational education, career counselling, job placement, and support for plans for micro-enterprise development.
  • An Aflatoun Day event entitled “Expression of empowerment of young people through social and financial education”- governmental stakeholders, dignitaries, representatives of banks and financial institutions, and other relevant stakeholders were present.

The Artha Foundation organized a Poster Launching Program in partnership with Interact District Council 3292 and reached 37 schools all over the country, focusing mainly on Bhaktapur District. More than ten thousand students signed a pledge to set a savings goal. The process helped individuals to create a basic savings plan and encouraged them to take action. Participants in Artha Foundation’s activities also took part in a half-day dialogue in Latipur district with school administrators, academic researchers, and community school leaders. Artha Foundation also organized an art competition, a play with the theme “The role of children in financial planning in their house”, workshops in schools focusing on financial knowledge, needs and wants, money management skills for life events, child-friendly banking products and more, and piggy banks were disbursed to several students. Moreover, students of Kathmandu University visited the Stock Exchange, where a session was conducted for students to understand how the trading system works and learn about the history of stock exchange – from the manual to the digital system at present.

To close the Week, it was an honor to have Mr. Upendra Poudyal, CEO of NMB Bank and President of Nepal Banker's Association in this year's final event of ‪Global Money Week‬ 2016 at Golden Gate International College, where he spoke about the relationship between financial literacy and economic outcomes, including wealth accumulation, saving decisions, investment choices and credit outcomes.‬‬‬‬‬‬‬‬‬

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2015 Nepal Money Week

Participants:
Nepal Rastra Bank
Ministry of Education
Nepal Bankers' Association
Development Bankers' Association Nepal
Nepal Finance Company Association
Micro Finance Development Bankers Association
Nepal Federation of Savings and Credit Cooperatives Society
UNICEF Nepal
Nepal Banking Institute
First Micro Finance Development Bank
Equal Access Nepal
Child Workers in Nepal Concerted Centre
Samunnat Nepal
Save the Children
Save the Children Nepal
Artha Foundation
Bank of Kathmandu
Siddhartha Bank
Reliable Development Bank
National Banking Training Institute
Rastriya Banijya Bank
Date of the event:
10th - 17th of March
Number of children reached:
11 400

Nepal Rastra Bank, the Central Bank of Nepal, took the lead to celebrate Global Money Week 2015 in Nepal from 9 to 17 March. It worked in consultation with a wide range of stakeholders and bank and financial institutions. During the week, Nepal Rastra Bank coordinated closely with Nepal Bankers Association, Nepal Development Bankers' Association, Finance Company Association, Micro Finance Development Bankers Association, Nepal Federation of Savings and Credit Cooperatives Society (NEFSCUN), UNICEF Nepal, National Bankers Institute (NBI), First Micro Finance Development Bank (FMDB), Equal Access Nepal (EAN), Child Workers in Nepal Concerned Centre (CWIN), Samunnat Nepal, and Artha Foundation. Bank of Kathmandu also organized multiple activities through the week.

Nepal Rastra Bank, in cooperation with UNICEF Nepal, organized a Grand Financial Literacy Rally with about 4000 people on 14 March to promote Child and Youth Finance International’s Global Money Week. The Rally was represented by some 50 institutions, including bank and financial institutions, schools, scouts, cooperatives, NGOs, donor agencies, INGOs, and others. For this rally, Nepal Rastra Bank printed shirts with Child and Youth Finance International and its logo. The backside of the shirts had the Global Money Week 2015 dates and the theme “Save Today, Safe Tomorrow” printed on it. The rally was inaugurated and addressed by the Governor of Nepal Rastra Bank. Many high level authorities of Nepal Rastra Bank participated in the rally.

On 17 March, Nepal Rastra Bank organized “Intensive Interaction Program with the Students on Financial Literacy Focused on Child and Youth” session. This program was attended by over 300 persons from 70 institutions. This included some 200 students from different schools. The Governor of Nepal Rastra Bank was Chief Guest and Chairperson of the program. Nepal Rastra Bank and Ministry of Education both presented details of the initiatives undertaken by them.

Nepal Rastra Bank also distributed 5000 copies of its publications called “Paisa Ko Bot” (Money Tree), a story-book published for students on financial literacy, to the participants of both the Rally and the interaction. Around 1000 copies of the booklet “NRB with Students”, a financial literacy book designed for the students by the bank, were also given.

Various organizations across Nepal also arranged their own activities during the week. Samunnat Nepal launched its savings awareness tool called “Saving Scale” to help students understand more about saving money, time, food and resources. Equal Access Nepal dedicated its 45-minute long radio program to talk and teach about financial literacy. Child Workers in Nepal Concerned Centre contributed impressively towards the success of Global Money Week in Nepal by organizing radio and television shows, an orientation seminar on social and financial education for street children and street field workers, and wrapped it up with media coverage post event.

Financial institutions also undertook initiatives to further promote and encourage financial literacy through a range of activities. For example, Prabhu Bank Limited organized banking awareness programs and good banking habit sessions in the mid-western region of Nepal. Members of Nepal Federation of Savings and Credit Cooperatives Society also organized different financial literacy programs throughout the country.

Most notably, the Bank of Kathmandu took a big lead by creating a series of Financial Education Sessions for parents, school children, and college students in their offices starting from 9 March to have interactions with their communities. They organized “Visit Your Bank Week” in all their branches for students to make them understand what happens to their savings and how it is maintained and grown. In advancing child and youth financial inclusion in the CSR initiatives during and beyond Global Money Week, the Bank of Kathmandu unveiled a promotional scheme for one month. From 9 March, NPR 100 cash top up was given for every new account opened in ‘Chetanshil Yuva Bachat Yojana’ and ‘Navakopila Bachat Khata’ (existing child & youth savings products in the Bank). This scheme was launched with a view to encourage initiate youth and parents into the habit of saving.

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2014 Nepal Money Week

Participants:
Nepal Rastra Bank
Ministry of Education
UNICEF Nepal
UNICEF Nepal
Save the Children Nepal
Bank of Kathmandu
Child Workers in Nepal Concerted Centre
National Banking Training Institute
Rastriya Banijya Bank
Date of the event:
10th - 17th of March
Number of children reached:
6 000
Additional children reached through media:
50 000

Nepal Rastra Bank (NRB), the Ministry of Education and several local stakeholders ranging from national authorities, financial institutions, multi-laterals, NGOs and people of Nepal celebrated Global Money Week with series of momentous activities.

The SSMK Radio shows broadcasted during Global Money Week were dedicated to financial literacy and discussed the importance of the need to build the financial knowledge and entrepreneurship skills of youth - the decision makers of the future.

An Interaction Program was organized by Child Workers in Nepal (CWIN) in partnership with the Banking Academy of Nepal and took place over a 2 day period. During the program, 30 tuition facilitators shared their experiences on saving (in banks and cooperatives) and responsible utilization of resources while, 37 youths (all students) shared experiences of their financial activities. On both days the participants shared experiences on their sources of income, saving habits and strategies and their outlook on the banking process on savings accounts. Youths were also oriented on Financial Literacy and banking products by a representative of the Nepal of National Banking Training Institute and the Banking Academy of Nepal. CWIN also organized the presentation of 4 case studies on experiences and good practices of savings and the challenges faced by youth while opening saving accounts at banks. This presentation also incorporated the utilization of income in daily walks of life with concerned agencies and showed concern for harmonizing procedures for utilization of banking services and products.

NRB organized an interaction program as a part of “Global Money Week” celebrations where “NRB with Students” materials such as information booklets and songs on financial literacy were launched by the Governor of NRB and distributed to students. Representatives from the Ministry and Department of Education, Nepal Bankers’ Association, UNICEF, school associations (PABSON/NPABSON/HISAN), media, other stakeholders and youth attended the event. All stakeholders committed to work together to promote financial literacy among children and youth. NRB also organized a Global Money Celebration Rally, which was inaugurated by the Governor of NRB with a speech. The rally attracted 1,500 participants.

The Ministry of Education published financial literacy material covering "Global Money Week" in Gorkhapatra (a national daily newspaper). CWIN organized a celebratory program in coordination with the Banking Academy of Nepal. During the course of the week the CWIN also dedicated an episode of the "Bal-Sarokar" television program to "Global Money Week”.

UNICEF in partnership with NRB arranged 2 000 copies of a financial literacy story book called “Money Tree” (Paisa ko Bot) to be printed and distributed by school children during NRB’s "NRB in Schools” program which ran during Global Money Week. UNICEF also supported the broadcast of an episode of "Saathi Sanga Mann Ka Kura" which was based on Global Money Week values and financial literacy. On 17th March a web chat was organized by UNICEF in conjunction with CWIN. They facilitated the interaction of about 20 Nepalese youth with their peers from Brunei.

Save the Children in conjunction with its partner bank conducted financial education sessions throughout Global Money Week. In partnership with the NRB, Save the Children also printed 3000 copies of the story book “Money Tree” (Paisa ko Bot) for NRB to distribute to school students.

The Bank of Katmandu (BOK) organized a visit to its branches for children and youth. In collaboration with CWIN, BOK also organized 2 awareness programs in the Makwanpur District.

Rastriya Banijya Bank (RBB) organized a walking event in order to financial literacy/GMW at Kathmandu on 17th March with some 200 of its staffs.

The Association of Economic Journalists of Nepal (SEJON) was formally invited for events and some 30 journalists from different media participated in news coverage of both of the NRB programs of March 14 and 15. There was wide coverage of these events and editorials were published in the local News Papers, TV programs, Radio programs, FMs, e-news and more.

Different articles regarding Financial Literacy and GMW were published in a wide range of local newspapers during the week.

 

2013 Nepal Money Week

Name of organizing entity - Nepal Rastra Bank
Partners - Citizens Bank, UNICEF, Ministry of Education, Nepal Financial Institutions Association
Date of the event - 15th - 21st of March
Number of children reached - 200

“On the last day, a rally was organized along with a parade. 800 people participated in the rally, which included about 100 scouts, 500 adolescents, 200 policymakers and bankers. This helped the public witnessing the rally to also be aware about the global CYFI movement in Nepal. The CYFI movement here has being receiving a lot of positive response and we are looking forward towards promoting it further in Nepal.”

Nepal celebrated Global Money Week for the entire duration of the week. 12,000 copies of books on financial literacy titled “Paisako Bot” (The Money Tree) were distributed on a massive scale around the nation. The book was aimed to raise awareness on financial literacy among adolescents in an interesting manner. It mainly encourages children to inculcate saving habits and be more prudent while spending. It was also given to libraries so even more youngsters could gain knowledge on these issues. The team of youth volunteers conducted workshops on financial literacy in different schools and performed a short theater play on the drawbacks of being extravagant. They also distributed the books in private and government schools in the capital of Nepal, Kathmandu. The organization Room to Read was the technical supporter for publishing this child-friendly storybook. Other financial service providers have distributed the books outside the capital.

An interaction program between policymakers and youths was organized by NRB. It was held on the 21st of March and about 150 participants (including bankers, policymakers, youths, school principals and journalists) were present.

“All in all, Global Money Week celebration has been a huge success in Nepal.”