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2022 North Macedonia Global Money Week

GMW NATIONAL COORDINATOR:

  • National Bank of the Republic of North Macedonia

PARTICIPATING ORGANISATIONS:

  • Ministry of Finance, Securities and Exchange Commission, Fully Funded Pension Insurance Supervision Agency and Insurance Supervision Agency, NGOs, schools, universities

TOTAL NUMBER OF PARTICIPATING ORGANISATIONS:

  • 176

NUMBER OF CHILDREN AND YOUNG PEOPLE REACHED DIRECTLY:

  • 34,004

NUMBER OF ADULTS REACHED DIRECTLY:

  • 2,290

NUMBER OF PEOPLE REACHED INDIRECTLY:

  • 281,720

The National Bank organised many activities during the 10th edition of Global Money Week in North Macedonia. For example, an Educational Caravan visited students from elementary schools in rural areas, a virtual lecture and an educational quiz were organised for youth from the secondary school of economics. An educational infographic on financial education of youth was presented. Winners of an organised financial education quiz received rewards.

As part of the Global Money Week, representatives of the Ministry of Finance held lectures on higher education institutions. The Minister of Finance also joined the campaign with his lecture about budgeting, functions, priorities and goals.

Macedonian Banking Association in cooperation with the National Bank of the Republic of North Macedonia and the Securities and Exchange Commission of the Republic of North Macedonia organised the national competition "European Money Quiz", a project of the European Banking Federation.

MAPAS, in coordination with the pension companies and a NGO held in-person educational activities in 55 secondary schools in several cities in the country, four online events and a panel discussion. They also prepared educational materials and brochures.

In addition, Komercijalna Banka made the “Financial Classroom” project, created in 2018, available to everyone online. The purpose of the project is to highlight the importance of financial education for youth and help them prepare for better futures. The tool teaches all users about financial products and services.

Stopanska Banka AD Skopje was actively engaged in promoting GMW. Their advertising agency developed an easy memory game about money functions and history to help users learn to become better money managers. The online campaign attracted the attention of children and their parents. Halk Bank organised lectures, painting contests and ECO activity.

Savings House Moznosti advised young people when applying for a loan. For example, how to ask for a pre-agreement information form, request loan repayment simulation, all loan costs, when, and how the interest is calculated and other rights. There were activities about advices on setting goals, how not to buy impulsively, being careful with small expenses, keeping track of costs, and more. Moznosti set an educational quiz game on Instagram and chose a winner based on the correctly answered questions and gained rewards.

Savings House FULM created educational programme for smart savings, cyber protection and personal data protection. This programme was realised through educational tips for children and parents, on FULM Savings House profile on social media platforms.

Global shapers Skopje Hub within the "Financial Literacy for Youth" project organised a panel discussion on the GMW topic at Europe House Skopje. Through the discussion, four experts in the field of finance and the participants had an opportunity to find out more about financial literacy, personal finances, how crisis can affect income, how to be smart in buying, saving, investing and insurance, why it is necessary from an early age to think about retirement and how young people can prepare for the future.

Junior Achievement Macedonia, organised a series of workshops dedicated to entrepreneurship and financial education in order to raise financial awareness and inspire young people. Three innovation camps brought together students, business volunteers and teachers. The challenge that was given to the youth varied from social, banking, IT or other industry sector.

2021 North Macedonia Global Money Week

GMW NATIONAL COORDINATOR:

  • National Bank of the Republic of North Macedonia

PARTICIPATING ORGANISATIONS:

  • Coordinating Body on Financial Education and Financial Inclusion (National Bank, Ministry of Finance, Insurance Supervision Agency, MAPAS, Securities and Exchange Commision), Macedonian Banking Association, Commercial banks (Komercijalna banka, and TTK banka), Saving House FULM, Macedonian Credit Bureau, NGOs (Junior Achievement Macedonia, Global Shapers Skopje Hub, Romalitiko, IMOR)

TOTAL NUMBER OF PARTICIPATING ORGANISATIONS:

  • 14

NUMBER OF CHILDREN AND YOUNG PEOPLE REACHED DIRECTLY:

  • 1,915

NUMBER OF ADULTS REACHED DIRECTLY:

  • 270

NUMBER OF PEOPLE REACHED INDIRECTLY:

  • 319,475

To celebrate GMW2021, the National Bank, the Ministry of Finance, MAPAS, Insurance Supervision Agency and Securities and Exchange Commission as part of the Coordinating Body for Financial Education and Financial Inclusion, planned many events and activities to raise awareness of financial literacy in North Macedonia. The main activities included online lectures that reached 1,915 students and 270 adults. All these five institutions taught basic financial terms and definitions in elementary, high schools and universities in more than 20 cities in the country.

The Minister of Finance gave a lecture on the budget, its functions and execution in one of the universities. 150 participants were educated on various topics in the field of financial system and budget. Moreover, some institutions published animated educational videos, organised quizzes, held live session on social media, shared educational articles, and organised debates. The Securities and Exchange Commission prepared and published on their website a wide range of educational materials and animated videos relevant to the capital market as well about the basic concepts in the field of securities, investment and financial instruments. In addition, the National Bank shared an educational video on “Security Features on Macedonian Money” which was part of the series of “With the National Bank in the World of Finances.” They also participated in a radio programme, and published an article called “Non-Performing Loans – What they mean for the banking clients?” under the activity of “Economics for All.”

The National Bank in cooperation with the Macedonian Banking Association and the Securities and Exchange Commission organised a pre-event on the European Money Quiz on a national level. The runners-up of the European Money Quiz in 2019 and 2020 shared their experience with the participants registered in the European Money Quiz for 2021. About 600 students from 72 elementary and high schools across the country participated in the European Money Quiz.

In addition, the Macedonian Credit Bureau led Facebook live sessions on their channel. The goal was to educate their followers and other individuals about financial education. Komercijalna Banka and TTK Banka, as well as the Saving House FULM led e-classrooms and quizzes. Within the workshops, children from primary schools learnt about money topics through many activities. The aim was to increase and spread awareness of the importance of financial literacy of children and youth. Students from secondary schools actively engaged with inspiring and productive discussions about smart money management, importance of taking care of personal finances, how to manage their money wisely and how they can save money and realise their plans in the future. Furthermore, the students were given different quizzes about their financial knowledge, saving habits and money management skills. Online educational training from MAPAS was held in three faculties. The trainings covered a total of 263 students and 15 professors who actively participated and showed special interest in fully funded pension insurance.

Global Shapers Skopje Hub through its project “Financial Literacy for Youth” actively engaged more than 90 students and young adults from diverse backgrounds and reached 2,800 young people through digital learning activities. The Junior Achievement Macedonia in cooperation with teachers, high schools and business volunteers, reached 162 young people through several online activities, such as two-week long JA Innovation Camp competition and training sessions with university and stock exchange representatives. All of the participating organisations were actively present on social media.

2019 North Macedonia Global Money Week

LEADING ORGANISATIONS:

  • The National Bank , Ministry of Finance , Agency for Supervision of Fully Funded Pension Insurance, Agency for Supervision of Insurance, Securities Exchange Commission, Macedonian Banking Association

PARTICIPATING ORGANISATIONS:

  • 13 Private Sector Institutions, 5 Universities, 7 Public Sector Institutions, 72 Media Organisations, 87 Schools

NUMBER OF CHILDREN REACHED DIRECTLY:

  • 5 000

NUMBER OF PEOPLE REACHED INDIRECTLY:

  • 350 000

The National Bank
In North Macedonia, GMW2019 was organised by National Bank of the Republic of North Macedonia, the Ministry of Finance, the Insurance Supervision Agency, the Agency for Supervision of Fully Funded Pension Insurance, and the Securities and Exchange Commission of North Macedonia. Schools not only visited these institutions, but also the Macedonian Stock Exchange, the Museum of the National Bank, two pension companies, two commercial banks, one savings house, and the Customs Administration. During the visits, education lectures were conducted on topics in the field of the respective institutions, which included topics such as money, savings, trading, banking sector, investment, insurance, and pension. 2019 marked the first year that Macedonia participated in the European Money Quiz, which was initiated by the Macedonian Banking Association, and was organised in cooperation with the National Bank of the Republic of North Macedonia, Securities and Exchange Commission of the Republic of North Macedonia and the Ministry of Education and Science. During the Week, the Macedonian Enterprise Development Foundation (MEDF), for the Support to the Agricultural Cooperatives programme, conducted 9 trainings for the preparation of a business plan, which included financial education, financial planning and financial analysis for adults. The Alliance of Microfinance Organisations organised 5 financial education sessions for adults. All activities were covered by mass media via press releases.

2018 North Macedonia Global Money Week

LEADING ORGANISATIONS:

  • National Bank of the Republic of Macedonia, Ministry of Finance, Agency for Supervision of Fully Funded Pension Insurance, Agency for Supervision of Insurance, Securities Exchange Commission

PARTICIPATING ORGANISATIONS:

  • Aco Sopov Elementary School, Alliance of Microfinance Organisations, Brakja Miladinovci Elementary School, Dimo Hadzi Dimov Elementary School, Dobri Daskalov High School, Economic High School Vasil Antevski Dren, Faculty of Agriculture Sciences and Food, FULM Savings House, Goce Delcev Elementary School, Goce Delcev High School, Jeronim De Rada Elementary School, Koco Racin Elementary School, Kole Nedelkovski Elementary School, Macedonian Enterprise Development Foundation, Macedonian Stock Exchange, Microcredit Foundation Horizonti, MIT University, Moznosti Savings House, Nai Frasheri Elementary School, Necati Zekirija Elementary School, Panajot Ginovski Elementary School, Pero Nakov High School, Slavco Stojmenski High School, St. Kiril I Metodij High School, St.Kiril I Metodij Elementary School, Stopanska Bank, Straso Pindzur Elemntary School, Vanco Prke Elementary School, Vasil Antevski Dren Secondary Economic and Law School, Vuk Karagic Elementary School, 25 May Elementary School

NUMBER OF CHILDREN REACHED DIRECTLY:

  • 1 745

NUMBER OF PEOPLE REACHED INDIRECTLY:

  • 8 553

National Bank of the Republic of Macedonia
The Coordinating Body of the Regulatory Authorities for Financial Education in Macedonia, consisting of the National Bank of the Republic of Macedonia, the Ministry of Finance, the Insurance Supervision Agency, Agency for Supervision of Fully Funded Pension Insurance and the Securities and Exchange Commission, in cooperation with the Association of Microfinance Organisations, marked the beginning of the Global Money Week on 12 March. A press release was published on the websites of the aforementioned institutions and nine mass media organisations captured the event. This year, GMW activities were organised separately by the institutions but on a larger scale involving 1,700 students and 60 teachers. The purpose of the activities was to raise the level of financial literacy among the young Macedonians. During the visits, educational lectures were conducted on topics related to the functioning of the institutions, i.e. in the field of money, savings, trading, banking sector, investment, insurance, pension sector and other topics related to the functioning of the financial systems. Lectures were organised within the institutions, caravans were also organised in Kumanovo, Stip, Kavadarci – where lectures were realized for students from elementary and secondary schools. Also, five caravans from five rural areas, with 230 students and 30 teachers from elementary schools, visited the National Bank of the Republic of Macedonia. In total, Global Money Week celebrations in Macedonia continued longer than the official Week and students had the opportunity to learn about financial affairs until the end of March 2018.

Macedonian Stock Exchange
To celebrate Global Money Week 2018, students from the Economic High School Vasil Antevski Dren in Skopje visited the Macedonian Stock Exchange (MSE) on March 16, 2018. During the visit, the students participated in a tour of the building and were introduced to the role and functions of MSE. Furthermore, the students had the opportunity to watch online real-time trading through the Exchange's system.

2017 North Macedonia Global Money Week

LEADING ORGANISATIONS:

PARTICIPATING ORGANISATIONS:

Institutions:

Schools:

  • Lazo Trpovski Elementary School in Skopje, Vojdan Cernodrinski Elementary School in Skopje, 11 Oktomvri Elementary School in Skopje, Vasil Antevski Dren Secondary Economic and law School in Skopje, Gjorgji Dimitrov High School in Skopje, Kole Nedelkovski Secondary School in Veles, Sv. Kiril I Metodij High School in Negotino, Woodrow Wilson Elementary and High School in Tetovo, Gostivar Secondary Economic School in Gostivar, Sv. Kiril i Metodij Secondary Economic School in Ohrid, Niko Nestor Secondary School in Struga, Sv. Kliment Ohridski Elementary School in Bitola, Jane Sandanski Secondary School in Bitola

NUMBER OF CHILDREN REACHED DIRECTLY:

  • 550

NUMBER OF CHILDREN REACHED INDIRECTLY:

  • 3000

The Coordinating Body of the Regulatory Authorities for Financial Education in Macedonia consists of the National Bank of the Republic of Macedonia, the Ministry of Finance, the Insurance Supervision Agency, Agency for Supervision of Fully Funded Pension Insurance and the Securities and Exchange Commission, in cooperation with the Bureau for Development of the Education and the Association of Microfinance Organisations, all of whom worked together beginning 27 March 2017, marking the start of Global Money Week. On this first open day of the Global Money Week, visits were organised by four primary and secondary schools from Skopje on the premises of all five regulators (NBRM, MF, ISA, MAPAS and SEC), as well as the Macedonian Stock Exchange, the Numismatic Museum of NBRM, one pension fund, investment fund, commercial bank, savings house and insurance company. During these visits, high-level representatives welcomed the students on the premise of the Governor of the National Bank, the President of the Council of Experts of ISA, the President of SEC, the Director of the Stock Exchange, and many more officials and representatives from the mentioned institutions.

For the first time in Macedonia, these type of activities were organised on a larger scale, with the purpose of these activities to raise the level of financial literacy among the young population in Macedonia. During their visits, educational lectures were conducted on topics in the field of the institutions they cover and work on, i.e. in the field of money, savings, trading, banking sector, investment, insurance, pension sector and other topics related to the functioning of the financial systems. The visits were conducted with recognizable, marked educational buses.

The Global Money Week in Macedonia was celebrated across three days with organised educational caravans using the educational buses. The 5 regulators along with the partners, Alliance of Microfinance Organisations, Bureau for Development of Education, and Stock Exchange reached 3000 children and youth through financial literacy awareness sessions and educational visits on 29 March in the cities Veles and Negotino. The same occurred on 5 April in the cities Tetovo and Gostivar, and on 7 April in the cities Ohrid and Struga. In addition, students from different schools in the mentioned cities visited other financial institutions with the educational buses in their local areas or other cities in Macedonia.

2016 North Macedonia Global Money Week

PARTICIPATING ORGANISATIONS:

  • National Bank of the Republic of Macedonia
  • Ministry of Finance
  • Securities and Exchange Commission
  • Insurance Supervision Agency
  • Agency for Supervision of Fully Funded Pension Insurance

DATE OF THE EVENT:

  • 16th of March

TOTAL NUMBER OF CHILDREN AND YOUTH ENGAGED:

  • 2 000

The National Bank, together with the Ministry of Finance, the Securities and Exchange Commission, the Insurance Supervision Agency and the Agency for Supervision of Fully Funded Pension Insurance, whose representatives make up the Coordinating Body of the Regulatory Authorities for Financial Education in the Republic of Macedonia, gave lectures to primary and secondary school students in Macedonia. Through these lectures, students were closely introduced to money and its meaning, exchange, history, production, saving, inflation, monetary policy and more.

The Insurance Supervision Agency, as an active supporter of the Global Money Week initiative, presented on topics such as basic concepts of insurance and risk management in insurance. The Agency also launched a booklet "How insurance works”. This booklet covers the basic characteristics of insurance as a financial service, including the origins of insurance, how insurance works, types of insurance and how an insurance company makes a profit, and is suitable for the children as of primary school level.

2015 North Macedonia Global Money Week

PARTICIPANTS:

DATE OF THE EVENT:

  • 9th - 31st of March

NUMBER OF CHILDREN REACHED:

  • 1 000

The name of the event was simply Global Money Week 2015 in Macedonia. During GMW lectures were held in Elementary and Secondary Schools, not only in the capital city Skopje, but in many more around Macedonia. These lectures targeted different profiles of students and pupils, including marginalized groups of students as well. Lectures were given in three languages - Macedonian, Albanian and English. Lectures were also given in the Roma language in a municipality where Roma people are living and are majority. More than 30 schools were visited during this period of GMW activities in Macedonia, through which students were closely introduced to money, its meaning, exchange, history, design, followed by the concepts of saving, inflation, monetary policy, fiscal policy, taxes, insurance, pension and so on.

On 9 February 2015, the Coordinating Body of the Regulatory Authorities for Financial Education in the Republic of Macedonia, consisted of representatives of the National Bank, the Ministry of Finance, the Securities and Exchange Commission, the Insurance Supervision Agency and the Agency for Supervision of Fully Funded Pension Insurance, officially launched the “Global Money Week” in 2015. The event was organised on the premises of the “Vasil AntevskiDren” high school in Skopje, in cooperation with the school principal, teachers and students of third and fourth years. The official start of the Global Money Week was marked by introducing the students to the work of the Coordinating Body and the activities in the field of financial education in each of the institutions. A quiz was organised in which the students were divided into three teams. Students were asked to give the teams financial names or terms that will characterize the team and to respond to questions from the area of operations of the five institutions. Each team consisted of six students, and the teams were named: “Treasury”, “Brokers” and “Supervisors”. The questions were answered by the team that was the quickest in the response. The winners, the team “Treasury”, received symbolic rewards in the form of representative material marking the Global Money Week.

The Insurance Supervision Agency, as an active supporter of the movement Global Money Week, made a presentation covering the topics insurance, basic concepts of insurance and risk management in insurance. Also, the Agency, in collaboration with the Ministry of Education and the National Insurance Bureau, launched a social children’s game “Less Risk, More Fun”. It is a board game and is based on players with different roles. During the game, the player may found herself/himself in the role of a child, teenager, young adult, parent, grandparent, depending on the drawn cards.

The Securities and Exchange Commission has published “Manual for understanding the securities market” in collaboration and support from IFC and SECO. The Manual is published for high school students and it will influence on the level of financial literacy of the youth population. This Manual was promoted during Global Money Week 2015 events in 2 high schools: “Vasil Antevski-Dren” and “Gjorgji Dimitrov”. The Manual is available online.

2014 North Macedonia Global Money Week

PARTICIPANTS:

DATE OF THE EVENT:

  • 10th - 17th of March - in general in Macedonia;
  • 17th February - 17th March - National Bank of the Republic of Macedonia;

NUMBER OF CHILDREN REACHED:

  • 1 000

The Global Money Week kicked off Monday, 10 March 2014, by symbolic ring of the bell at the Macedonian Stock Exchange, organised by the Coordinating Body of the Regulatory Authorities for Financial Education in Macedonia, under the leadership of Child and Youth Finance International, which took place in the period 10-17 March 2014, presented by the Deputy-Prime Minister and Minister of Finance, the Governor of the National Bank of the Republic of Macedonia and the CEO of the Stock Exchange. The Macedonian Stock Exchange provided a possibility for the students to trade on the virtual stock market.

Thirty best students from the economic and law school 'Vasil Antevski-Dren' from Skopje attended this event. They were allowed to virtually trade at the virtual stock exchange through the Macedonian Stock Exchange's educational portal, where a simulation of actual trading has been performed. The best student trader will be awarded with free training on capital markets principles at the Macedonian Stock Exchange after a month of trading.

During the 10-17th March the coordinating body of the Regulatory Authorities for Financial Education in Macedonia organised a host of activities for Global Money Week. The ‘body’ consists of the National Bank of the Republic of Macedonia, the Ministry of Finance, the Insurance Supervision Agency, the Agency for Supervision of Fully Funded Pension Insurance and the Securities and Exchange Commission of the Republic of Macedonia. This week was developed in the framework of an entire month which Macedonia dedicated to financial education in schools, and was led by the National Bank of the Republic of Macedonia (NBRM).

During the week representatives of the above mentioned institutions visited schools all over the country, from primary to high-school, and interacted with more than 1 000 children and youth conducting lectures on personal finance and savings. In order to promote and distribute the information, the NBRM prepared brochures about financial education and Global Money Week, of which 30 600 copies were distributed around the country.

The events were concentrated in a week, but the ideas discussed and learnt will have a long-term impact, especially among young people, and more generally, on the overall economy. It is very important that every child and every youth, when they become an adult, is ready to enter the labor market, to make the right financial decisions and to understand the importance of financial products and services.

The National Bank delivered a full month of interactive lectures, between 17th February-17th March, in several primary and secondary schools through which students are introduced to a more in depth understanding of money in regards to its meaning, exchange, history, manufacture, saving, inflation, and monetary policies. The National Bank, with the Financial Education Project, develops educative papers and publications designed for youngsters that include various representative materials.

2013 North Macedonia Global Money Week

organiseR:

  • National Bank of the Republic of Macedonia

PARTNER:

  • Center for Human Rights and Conflict Resolution

DATE OF THE EVENT:

  • 15th – 21st of March

NUMBER OF CHILDREN REACHED:

  • 500

PRESS:

  • OU “Ljuben Lape” Newsletter; NBRM Press; “Vecer” - Daily Newspaper; “Ekonomski” - On-line news

In one of the schools, children were excited when they were given brand new Denar coins, directly brought from the NBRM vault, especially when they heard that they were the first to touch those coins. One child put his coin into a saving box to bring him luck. All the children in the class did the same. At the end, they said that this saving box will bring them luck, and once the saving box is full of coins, they will pay for a class trip.

During the Global Money Week, the NBRM organised creative interactive lectures in 15 elementary schools focused on:

  • Saving as a priority in the financial education;
  • Functions of the NBRM as a central bank and the differences between the NBRM and the commercial banks;
  • Presentation of Macedonian banknotes, new and old coins and banknotes;
  • Presentation and knowledge of the fraud-detection elements of the banknotes.

The Global Money Week Macedonia was marked by publishing new financial educational material – posters, leaflets, and comic books in Macedonian and in the five minority languages. In collaboration with one of the best-known companies for children magazines, contents on different economic issues were published. Moreover, children were given goodies that helped them learn more about finance: jigsaw puzzles, rulers featuring Macedonian Dinars (coins and banknotes), magnets, saving boxes, caps, small chocolates with design of the Macedonian banknotes, wallets and notebooks. Mr. Dimitar Bogov, the Governor of the National Bank of Macedonia, as well as the Board members also visited some of the schools.

GMW2023 8 4

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