2017 El Salvador Global Money Week
- Leading Organizations:
- Banco Central de Reserva de El Salvador
- Defensoría del Consumidor
- Instituto de Garantia de Depósitos
- Ministerio de Educación
- Superintendencia del Sistema Financiero
- Banco de Desarrollo de El Salvador
- Participating Organizations:
Asociación Bancaria Salvadoreña ABANSA, Asociacion Salvadoreña de Empresas de Seguros (ASES), Sparkassenstiftung Für Internationale Kooperation – El Salvador, Plan Internacional – El Salvador, Universidad Dr. José Matías Delgado, Banco Azteca El Salvador, S.A., Banco de América Central, Banco Agricola, Banco de Fomento Agropecuario, Integral Sociedad de Ahorro y Crédit, Banco Azteca, Banco Hipotecario, Fundación Sparkassenstifung für internacionales Kooperation, Universidad El Salvador, Instituto Francisco Morazán, Instituto Nacional San Juan Opico, Instituto Nacional el Coyolito, Tejutla, Instituto Nacional de Agilares
Number of children reached directly: 4 245Number of children reached Indirectly: 6 284
During Global Money Week 2017, the Central Bank of El Salvador used its Financial Education Program, along with strategic partners such as financial institutions, universities, NGOs and colleges, to reach a total of 3,100 children, young people and adults via conferences, magic games, visits to financial institutions, visits to the Money Museum and social network communication campaigns. As part of the GMW 2017 events, students from six schools participated in the Best Piggy Bank challenge, which fostered their creativity as well as the promotion of savings.
Furthermore, the Superintendencia del Sistema Financiero (SSF) held events throughout 27 – 31 March in different educational centers around the country to bring personal finance knowledge to children and young people. Mr. Ricardo Perdomo, Superintendent of the Financial System, was present at the inauguration of the activity, which took place at the Francisco Morazán Institute in San Salvador. This event was attended by 800 young students of the institution, who learned how to prepare for financial autonomy.
On the second day of the Week, the Superintendent visited the National Institute of San Juan Opico, who reached 400 high school students by instructing them on the proper use of credit and credit cards. The Financial Education of the SSF also arrived on Wednesday 29 March to the Municipality of Tejutla, in Chalatenango, where 370 bachelors of the National Institute of El Coyolito learned about "How to manage your finances and how to take care of money".
On Thursday 30 March, the SSF headquarters received 130 students of the Chair of Banking and Stock Exchange Law of the Gerardo Barrios University of San Miguel, and students of Public Accounting at the National University of El Salvador, to learn about the work of the SSF and the work done by the different entities and directorates with which the institution must have an effective supervision of the financial system.
The inauguration and closing events, which generated the greatest impact throughout the Week, were carried out in the inland of the country, where the greatest challenges were presented in terms of financial education and financial capacities of the population. Financial fairs were held at opening and closing events, in which there were participation of financial institutions, allowing young people to approach and to interact with the institutions.
The official closing of the celebrations was held on Friday 31 March, an event that took place at the National Institute of Aguilares and was attended by the Deputy Superintendent of Banks, Insurers and Other Financial Entities and Lic. William Durán. More than 300 young people attended the closing ceremony, learning about the importance of “Credit History” and “Entrepreneurship”.
2016 El Salvador Global Money Week
- Leading Organizations:
Banco Central de ReservaInstituto de Garantía de DepósitoDefensoría del ConsumidorMinisterio de EducaciónBanco de Desarrollo de El Salvador
- Participanting Organizations:
Sparkassenstiftung für international Kooperation Banco HipotecarioBanco de Fomento AgropecuarioBanco ProCreditBanco AgrícolaBanco DaviviendaBanco AztecaBanco América Central
- Date of event: 14th - 18th of March
- Total number of children & youth engaged: 1 500
GMW 2016 was celebrated in El Salvador through a number of activities throughout national competition was held on developing savings projects, which involved a group of students from each participating institution. The top 3 places received savings accounts and additional awards. There were also presentations on the importance on building savings, and a financial education magic show. Students were also given the opportunity to prepare dramatic productions related to money matters. Financial and Entrepreneurship Fairs were also held for the youngsters.
During the week guided tours of the Library and the Luis Alfaro Durán Museum were also held for students to learn about the history of money, markets and financial responsibility.
At the close of the week, additional Financial Fairs were held, including a musical performance on the main theme of savings. Presentations on entrepreneurship and responsible consumption were given and the youngsters were able to play a number of fun interactive financial games.
2015 El Salvador Global Money Week
- Participants: Banco Central de Reserva, Superintendencia del Sistema Financiero, Instituto de Garantía de Depósito, Defensoría del Consumidor, Banco de Fomento Agrícola, Banco Hipotecario, Jóvenes en Victoria
- Date of event: 9th - 17th of March
- Number of children reached: 1 500
2015 Global Money Week was inaugurated on 9 March in El Salvador. This year’s initiatives were led by the Central Bank of Reserves of El Salvador, the Superintendent of the Financial System, the National Deposits Fund, and the Consumer Protection Bureau. Collectively these institutions are part of the Program for Financial Education in the country.
The Vice-President of the Central Bank took part in the inauguration ceremony that witnessed participation of more than 100 youth from the Instituto Salvadoreño de Superación Integral Issac Newton. They participated in a discussion on savings and a guided tour of the Central Bank.
During the week implementing partners highlighted the importance of economic citizenship and financial education to improve the quality of life of El Salvadorian children and youth.
The President, Central Bank of El Salvador, took part in the closing ceremony. He was accompanied by the Superintendent of the Financial System, the President of the Consumer Protection Bureau, and the President of the National Institute for Guarantee Funds.
2015 Global Money Week en El Salvador
El lunes 9 e marzo se inauguró la Semana de Educación Financiera, la cual es promovida por Child & Youth Finance International y organizada por el Banco Central de Reserva, Superintendencia de Sistema Financiero, Instituto de Garantía de Depósito y Defensoría del Consumidor, instituciones que conforman el Programa Interinstitucional de Educación Financiera.
La inauguración estuvo a cargo de la Vicepresidente del Banco Central de Reserva, en presencia de más de 100 jóvenes bachilleres del Instituto Salvadoreño de Superación Integral Isaac Newton, quienes tuvieron la oportunidad de recibir una charla sobre “El ahorro” y hacer un recorrido guiado por el Museo y Biblioteca Luis Alfaro Durán, del Banco Central. La Vicepresidente, invitó a los jóvenes a crearse el hábito del ahorro desde hoy, y aprovechar este tipo de actividades que brindan información sobre “Cómo ahorrar”.
La semana internacional de Educación Financiera se celebra la segunda semana de marzo, con el fin de concientizar sobre el uso del dinero a nivel mundial y en nuestro país las instituciones que conforman el Programa de Educación Financiera, realizarán diferentes actividades durante la semana del 9 al 17.
2014 El Salvador Global Money Week
- Date of the event: 12th – 21st of March
- Number of children reached: 1 560
Through a series of fun educational sessions El Salvador celebrated Global Money Week 2014 – with 180 children and youth participating on the first day! Global Money Week in 2014 was framed by the celebrations of the 5th anniversary of the launch of the National Financial Education Strategy. The Strategy was developed in collaboration between the Central Bank of Reserves, the Superintendence of the Financial System, the Institute of the Deposits and the Consumer Protection Bureau, to bring financial education to the Salvadoran population, with a special focus on the children and youth. El Salvador’s Financial Education Strategy aims to impart financial knowledge and to develop useful skills in children and youth so that they are equipped to make financially sound decisions when they are adults.
Plan International and the Municipality of Santa Tecla organized a Financial Education Fair were children and youth were welcomed by an address from high-level representatives of the organizing institutions. Children and youth learned about the "History of Currency in El Salvador" and watched a performance of the story "The Botija". Children and youth also presented their own stories on topics such as savings and money management. The best stories received an award from Plan International and the Municipality of Santa Tecla. Additionally, the Central Bank of Reserves awarded 120 scholarships to students starting university.
They also had fun playing a series of educational games that helped children better understand financial issues. Participating schools included: El Retiro de Ayutuxtepeque located in Cantón El Matazano, Centroamérica y Colonia Quezaltepeque in Santa Tecla and Arturo Ambrogi in the municipality of Colon. All educational activities during Global Money Week were implemented with the support of Plan International.
The National Institute of Puerto de La Libertad inaugurated its financial education program “Know your Money” at an event attended by 600 children and youth.
Workshops were hosted by the Catholic Relief Services at schools and colleges in the San Salvador and Santa Ana districts. The students were introduced to basic banking principles and made aware of the importance of saving. Youth from El Salvador also participated in a Video Chat Café with youth from Spain where they discussed savings, crowd funding and entrepreneurship.
2013 El Salvador Global Money Week
Name of organizing entity - Banco Central de Reserva de El Salvador
Partners - Instituto de Garantía de Depósitos, Superintendencia del Sistema Financiero, Ministry of Education El Salvador, Defensoría del Consumidor.
Date of the event - 18th - 21st of March
Number of children reached - 1 000
The activities during Global Money Week were child-centered and fun, which surprised some students who admitted they feared a “boring time with people in suits” (referring to the visit to the Central Bank) and instead, felt at ease to ask questions and to participate in games. The girls participating were particularly interested by the fact that the bank’s vice president was a woman.
For the first time Global Money Week was held in coordination with the national financial system institutions, a local government, and the Ministry of Education. The majority of participating children were from rural or suburban areas who have limited access to financial information and education.
A public fair was organized to raise awareness on the importance of financial education and inclusion was held at the biggest park in Santa Tecla. The event attracted bystanders, who took the opportunity to learn about saving from the children themselves. Some youth groups prepared theater sketches, puppet shows, murals and were selling crafts and bead jewelry as part of their entrepreneurship training. This was their first practical business experience for some of them. Government institutions involved in financial education were present with informational stands to raise the awareness about their services to the public.
A live video-conference was held in the park between Salvadoran children and peers from Peru and the Netherlands, where they exchanged experiences on financial education.
The celebration of Global Money Week continued throughout the week with 800 students from six schools visiting the Central Reserve Bank of El Salvador. They had the opportunity to hear speeches from the Bank’s President and Vice President. Their visit was marked by interactive sessions on the habits of saving, budgeting, and managing an allowance. The students saw a documentary on El Salvadorian currency, played games around the theme of money and savings, heard a storyteller perform a local folktale about a peasant who found a pot of gold coins while farming, and discussed the message of the story in relation to savings.
Scholarships from the Bank’s Scholarship Fund were awarded to 129 low-income students to continue post-secondary school or technical training.
“I couldn’t believe that we were talking to children in a different country who were doing the same things we were doing here! Even though I didn’t understand some of their words, I realized that they were learning about saving and money and that kind of stuff just like us here. I liked that we looked like we were on a TV show,” said Susy, 6th grade.