Ecuador

2018 Ecuador Global Money Week

LEADING ORGANIZATIONS:

  • AVAL
  • CRISFE Foundation
  • Central Bank of Ecuador
  • Children International
  • Guayaquil Bank
  • Superintendence of Companies, Securities and Insurance (Superintendencia de Compañías, Valores y Seguros)

PARTICIPATING ORGANIZATIONS:

  • Banco de Guayaquil, Bolsa de Valores de Guayaquil, Central Bank Numismatic Museum, Children International, Club for Independent Specialized High Performance del Valle, Ecuadorian Committee for Financial Education, ECUAGESA, Fernández Madrid Municipal School, Foundation for Innovation in Education (FIE), Guayaquil Stock Exchange, Junior Achievement Ecuador, La Providencia School, Mundo Juvenil, Nacional de Chimborazo UNACH University, Quito Stock Exchange, San Pedro Pascual School, Super Intendencia de Bancos, Super Intendencia de Comunicación, Superintendence of Companies, Securities and Insurance, The Work of Jesus, Mary and Joseph Foundation, Unidad Educativa "Miguel Ángel León Pontón", 1 University, 2 Schools, 6 Schools

NUMBER OF CHILDREN REACHED DIRECTLY:

  • 3 396

NUMBER OF PEOPLE REACHED INDIRECTLY:

  • 427 852

Central Bank of Ecuador
The activities organized by the Central Bank of Ecuador during GMW2018 focused on the development and strengthening of knowledge of the importance of money in children and youths. The history of currencies and financial education were the two focuses during the visit to the Numismatic Museum of the Central Bank.

Superintendence of Companies, Securities and Insurance (Superintendencia de Compañías, Valores y Seguros)
The Superintendence of Companies, Securities and Insurance, with its partners, held several events during GMW2018, to promote financial education. The celebrations started with students visiting the Quito Stock Exchange, where a conference was held on savings, investment and finance. The students participated in a stock market simulation called “Game of the Bag". The game gave the young people insight into how to buy and sell securities in the capital market. A workshop on operation and financing alternatives was held in the Metropolitan District of Quito. Students of the Espiritu Santo University and young representatives of Children International visited the Guayaquil Stock Exchange. At the Stock Exchange, the students received an explanation on investments, personal finances and savings, as well as the operation of securities houses, stock exchanges and other activities in the stock market.

Guayaquil Bank
For Global Money Week 2018, Banco Guayaquil organized six events related to financial education and “Money Matters Matter”. A three-day workshop was held for the children. Additionally, a workshop on financial education and multiple activities by the Children International Foundation were organized. One day was dedicated to financial education and the stock market culture in association with the Guayaquil Stock Market. The banking institution consulted with Junior Achievement Ecuador to ensure the successful development of its Financial Education program for children and youths. Saving habits and entrepreneurship was developed via games and activities.

CRISFE Foundation
During GMW2018, the Crisfe Foundation along with its partners, engaged children and youth in activities surrounding social and financial education. These included a theatre play named “Los Ahorros Ahorrados” (“The Saved Savings”), a fun activity with music, puppets, and actors, who had trained to relay important messages about savings, money management, planning and support for entrepreneurship, topics that the children experience every day through the Aflatoun Program. When the theatre play ended, the children had the opportunity to interact with the actors. The theme “Money Matters Matter” was explored throughout the week in the classroom, where a variety of experiences were shared that motivated the Foundation to cover more financial education related themes.

Children International
The Children International Agency in Guayaquil, along with its partners, organized multiple events, including museum visits, Skype calls, talks, conferences, open houses, and finance themed drawing competitions. Classes on raising awareness for financial literacy were held for children, youth, and adults. This included sessions explaining how the bank and its transactions work, how to save money, and where the safest place to do so is. High-level discussions were held between students for the university, young entrepreneurs from Aflateen and representatives from the local bank. Throughout the Week, the young people were able to participate in themed activities to learn about saving and spending. Additionally, the children and youth had the opportunity to go the financial institutions and museums. To close the Global Money Week celebrations, financial festivals were organized.

AVAL
AVAL, the Ecuadorian organization focused on financial education, organized multiple events during GMW2018. The first activity was organized in partnership with Mundo Juvenil. During the event, children were taught about the importance of saving. The second event was a webinar, “Empowering your children to make intelligent financial decision”. This activity was aimed at adults and parents. Furthermore, AVAL was active on social media, posting articles, tools and messages to promote financial education.


2017 Ecuador Global Money Week

LEADING ORGANIZATIONS:

PARTICIPATING ORGANIZATIONS:

NUMBER OF CHILDREN REACHED DIRECTLY:

  • 6 900

NUMBER OF CHILDREN REACHED INDIRECTLY:

  • 3 250

As part of the GMW 2017 agenda, the Superintendencia de Compañías, Valores y Seguros scheduled training and awareness activities on financial education. There were talks, workshops and a stock market simulation in Quito and Guayaquil for students between 15 and 18 years of age.

Representatives of the Guayaquil and Quito Stock Exchange, Children International, and the Financial Education Committee of the Association of Private Banks of Ecuador, participated as lecturers during the conferences dedicated to the development of the educational activities.

AVAL, an Ecuadorian company focused on financial education, also carried out several activities for children and young people during GMW 2017. AVAL held financial education talks with partner institutions working in schools and conducted a webinar for parents focusing on tips to encourage their children to save and manage their money. In addition, AVAL designed downloadable tools for children and developed an application for young people that allowed them to identify their goals.

Throughout the Week, Children International and its partners planned to reached children between the ages of 6 and 17 through visiting banks, dialogues, workshops, financial games and other recreational activities that will strengthen financial literacy, saving and spending. Financial Education awareness sessions were offered to children, youth and adults, this included sessions to learn about the Ecuador’s financial system, the history of Ecuador’s currency, entrepreneurial stories, exchange of experiences with other entities that manage financial youth clubs, visits to financial institutions and festivals based on the key elements of a savings education.

High level discussions, seminars and other educational sessions were organized jointly with the Superintendence of Banks, where Children International presented the Aflatoun program including its scope, methodology and impact. In addition, the young entrepreneurs in this program talked about their entrepreneurship experiences and how they have benefited their community.

Throughout the Week, young people participated in a selfie contest and the creation of piggy banks. In addition, they took part in a drawing contest about financial rights and visited community ventures that were created by young participants of Aflatoun.

The Fundación CRISFE organized a Bootcamp in order to strengthen the financial know-how of young people. Thanks to workshops, participants developed skills on how to become exchange agents, and learned about interest and economic rights and responsibilities, how to be responsible consumers and how to develop a culture of savings, build investment goals and fulfill them in the future.

The e-learning course on savings and financial goals sought to raise awareness amongst participants about the role of savings, the importance of establishing financial goals and the organization of personal and/or family finances through the implementation of a savings plan.

During the closing ceremony, the short film “Crecer es Cuestión de Familia” was presented. After the projection, a film discussion was held to reflect on basic financial tools that create high development in relation to the management of personal finances. The film is available here: http://www.consejosfinancieros.org.ec/videopage/crecer-es-cuestion-de-familia-8/

Moreover, Banco Guayaquil took part in GMW 2017 by training more than 100 children to promote financial education and financial inclusion. Amongst the activities, didactic workshops were carried out to stimulate the understanding of financial habits that will enable children to manage expenses from an early age. There was also a tour of the Money Museum to enrich the knowledge of the economic and social history of the country.


2016 Ecuador Global Money Week

LEADING ORGANIZATIONS:

  • Superintendence of Companies

PARTICIPATING ORGANIZATIONS:

  • BOLSA DE VALORES DE GUAYAQUIL
  • Children International
  • ASOCIACION DE BANCOS PRIVADOS
  • COMITÉ ECUATORIANO DE EDUCACION FINANCIERA

DATE OF THE EVENT:

  • 15th of March

TOTAL NUMBER OF CHILDREN AND YOUTH ENGAGED:

  • 50

This year, the Superintendent of Companies, Securities and Insurance led the Global Money Week celebrations in Ecuador, focusing its celebrations in Guayaquil.

Children and youth participating in Global Money Week 2016 in Ecuador had a full day of fun and educational activities on 15 March hosted by the Guayaquil Stock Exchange. Amongst other activities such as stock market simulations, financial education games and workshops, 50 children and youth participated in the flagship “Ring the Bell” ceremony during the opening of the stock exchange in Guayaquil. Ecuador also participated very actively in this year’s social media challenges, in particular the Global Money Week Selfie Challenge.

The private sector in Ecuador also took part in the GMW celebrations with great enthusiasm. Grupo Aval launched several financial education campaigns during the Week, as well as a major social media outreach campaign. The Association of Private Banks of Ecuador joined the celebrations, hosted by the Superintendence of Companies, Securities and Insurance, in an effort to showcase the long lasting partnership of the organizations in pursuit of a common financial education and inclusion objective in the country.

2015 Ecuador Global Money Week

PARTICIPANTS:

  • Superintendence of Companies, Securities and Insurance,Superintendence of Banks, Bolsa de Valores de Guayaquil, National Committee on Financial Education, Grupo Aval, Mutualista Pichincha, Produbanco, Citibank, Banco Solidario, Banco Finca, Banco Capital, Banco General Rumiñahui, Fundación CRISFE

DATE OF THE EVENT:

  • 9th - 17th of March

NUMBER OF CHILDREN REACHED:

  • 310

The Superintendent of Companies, Securities and Insurance led the GMW 2015 celebrations. A great range of activities across the country were conducted to make an impact in the lives of children and youth.

The main celebrations took place in Guayaquil and were hosted by the Superintendent. Activities included stock market simulations, and group discussion between children, youth, prominent businessman and entrepreneurs. 50 children and youth participated in the “Ring the Bell” during the opening of the stock exchange in Guayaquil.

The private sector in Ecuador also took part in the GMW celebrations with great enthusiasm. With the support of the Superintendent of Banks activities such as financial education safari, simulation of a bank for children, and financial education theater were organized. Handouts of different financial education materials were also distributed at schools.

Global Money Week 2015 en Ecuador

Este año las celebraciones de Global Money Week en Ecuador incluyen toda clase de actividades en todo el país. La celebración principal se llevará a cabo en Guayaquil bajo el auspicio de la Superintendencia de Compañías, Valores y Seguros. Las actividades incluyen un simulacro bursátil y charlas de niños, niñas y jóvenes con empresarios y emprendedores nacionales. Adicionalmente, este año Ecuador se une a la iniciativa “Ring the Bell around the World” en la cual 50 niños y niñas tendrán la oportunidad de abrir la Bolsa de Valores de Guayaquil.

Otras muchas actividades están siendo planeadas por el sector financiero con el apoyo de la Superintendencia de Bancos. Actualizaremos esta información muy pronto.

2014 Ecuador Global Money Week

PARTICIPANTS:

DATE OF THE EVENT:

  • 11th – 14th of March

NUMBER OF CHILDREN REACHED:

  • 300

This Global Money Week was the first that the Central Bank of Ecuador, the Superintendencia de Bancos and the Association of Banks joined in on the celebrations. Their activities were a great example of how multiple, smaller efforts contribute to reaching a single bigger goal.

The Central Bank of Ecuador collaborated with the Superintendencia de Bancos to invite children and youth to visit the Central Bank Museum in the frame of their financial education program, which has been being implemented for the last 2 years. Superintendencia de Bancos supported the tour by providing financial education didactic material to inform children and youth about the work that the Superintendencia has undertaken on the topic of financial education, while the Central Bank educated the youngsters so that they could better understand how a central bank works and what their role is in a country’s economy.

Fundación Crisfe held a financial and entrepreneurship gymkhana. The goal of the activity was to develop money management and entrepreneurial skills. The methodology was based on an experiential model that promotes the strengthening of entrepreneurial skills and financial decision making through different learning levels. The gymkhana encouraged the youth to make their own business decisions by proposing scenarios that allow them to invest, save, win, lose or donate money. Each activity was designed in sequential order for participants to strengthen their ability to make responsible financial decisions and to develop entrepreneurial skills. Once students accomplished the 5 activities the money that they earned at the different learning levels accumulated was turned into points – and the participant who had the most points won!

In Guayaquil, the Children International field office hosted a panel discussion at the Ecuadorian American Chamber of Commerce about the importance of social and financial education programs. Participants on the panel included representatives from Banco de Guayaquil, Banco de Pacífico and the Superintendence of Companies. The majority of the members of the audience were youth who interacted with the panel participants and asked questions.

In Quito, Aflatoun participants visited a branch of Banco del Pacífico to learn about savings and checking accounts, budgeting and the importance of saving with a financial institution. The activities were child-friendly and interactive. Another group of children visited Mini City, a learning center, where the children were given money to make purchases in the miniature city and where they could do small jobs to earn more money. This taught children the utility of money and a job and how best to manage their money in a responsible manner.

Learn more:

www.crisfe.org