Armenia

2019 Armenia Global Money Week

LEADING ORGANISATIONS:

  • Central Bank of the Republic of Armenia
  • Federation of Euro-Asian Stock Exchanges (FEAS)
  • Junior Achievement Armenia
  • Union of Banks of Armenia

PARTICIPATING ORGANISATIONS:

  • 51 Schools and Universities, 9 Media Organisations, American University of Armenia (AUA), Amundi-ACBA Asset Management, Ararat Bank, Armbusinessbank, Armeconombank, Armenia Securities Exchange, Armenian Deposit Guarantee Fund, Armswissbank, Artsakhbank, C-QUADRAT Ampega, Converse Bank, Corporate Governance Center, Development and Investments Corporation Of Armenia, Dilijan # 1 high school, Tavush Region, Dilijan # 5 high school, Tavush Region, Economic Journalists Club, Evocabank, Financial System Mediator, Finka UCO, Gladzor UCO, Global Credit UCO, Good Credit UCO, ID Bank, Inecobank, Ingo Armenia Insurance Company, Kamurj UCO, Ministry of Education and Science, Money Museum Central Bank of Armenia, Nairi Insurance, National Institute of Education, RESO insurance, Rosgosstrakh Armenia Insurance Company, SIL insurance, Unibank, Union of Banks of Armenia, VTB Bank Armenia, Wikimedia Armenia, “ACBA Leasing” Credit Organisation

NUMBER OF CHILDREN REACHED DIRECTLY:

  • 2 442

NUMBER OF PEOPLE REACHED INDIRECTLY:

  • 18 819

Central Bank of the Republic of Armenia
During GMW2019, the Central Bank of Armenia organised 13 visits with the “Big Red Buss”, to different financial institutions, the Money Museum of the Central Bank, and the Stock Exchange, where young people were able to learn about finances through different financial games, like the Savings Game and Finance Otherwise. They had the opportunity to test their knowledge by competing in the game “the Brainiest”, Financial Football, Composition Competition, and Economical and Financial Brain Ring. With the project “Finshabti”, young people were able to learn everything they wanted to know about different financial topics, from representatives in the field, as well as have discussions on different financial topics. The children and youth participated in an art contest, on the topic “I save for…” Throughout the Week, over 50 financial education classes were organised for schoolchildren, which were integrated in four main subjects, namely “Me and My World”, “Mathematics”, “Algebra”, and “Social Studies”. The project was promoted through social media, mass media, and tv. Participants were also able to learn about finances on the www.abcfinance.am website, which allowed them to be up to date on all the events and online competitions.

Federation of Euro-Asian Stock Exchanges (FEAS)
Throughout Global Money Week 2019, Federation of Euro-Asian Stock Exchanges, along with its partner American University of Armenia, organised a special lecture for AUA Students. The FEAS Secretary General spoke about the "Crypto Assets and DLT in Modern Financial World" topic. Furthermore, the topic of “Economic Bubble and Crypto Risks” were discussed. The FEAS actively encouraged its members to participate in the celebrations.

Junior Achievement Armenia
As part of the celebrations, students were invited to visit the Dilijan Educational Research Center of the Central Bank of Armenia, where they learnt about the Bank’s function and were able to explore the Dram History Museum. Representatives of the museum educated the children on the history of the Armenian dram, starting from the origins of money, to the releasing of the newest banknotes. Furthermore, a training session for the students was conducted, which taught them about the structure and function of the Central Bank, the set-up of general financial institutions, the meaning of inflation, and the concepts of savings and investments.

Union of Banks of Armenia
For GMW2019, the Union of Banks of Armenia, in cooperation with Economist Journalist Club, organised a series of seminars and trainings for economic journalists on bank related topics. The aim of the activity was to promote a better understanding of different financial banking topics, to go deeper into their definition, how they are used in a contemporary context, and to make them topics of discussion. The activity delivered education materials and knowledge, and aimed to raise awareness of financial literacy. The seminars were conducted by representatives of the financial banking sector, and continued to be given until June 2019.


2018 Armenia Global Money Week

LEADING ORGANISATIONS:

  • Central Bank of the Republic of Armenia
  • Children of Armenia Fund (COAF)
  • Federation of Euro-Asian Stock Exchanges (FEAS)
  • Junior Achievement Armenia

PARTICIPATING ORGANISATIONS:

  • "Knowledge for Development" Center of Central Bank of Armenia, American University of Armenia, Ararat Bank, Armenia TV, Armenian Deposit Guarantee Fund, Armenian Motor Insurer's Bureau, Armenian State University of Economics, Armswissbank, C-QUADRAT Ampega, CBA Leasing, Central Bank of Armenia, Converse Bank, Development and Investments Corporation of Armenia, Dilijan High School, Dilijan Secondary School #5, Dilijan Training and Research Centre, Evocabank, FIDES UCO, Financial Institute (Bank), Financial System Mediator, Global Credit UCO, Haghartsin Secondary School, Inecobank, Ingo Armenia Insurance Company, Junior Achievement Armenia, Kamurj UCO, Local Plants, Ministry of Education and Science, Nairi Insurance, Nasdaq OMX Armenia, National Center of Aesthetics, National Mortgage Company, News Armenia, Noyemberyan Secondary School, Panarmenian, Rosgosstrakh Armenia Insurance Company, SIL insurance, Tert.am, The Knowledge for Development Center in Dilijan, Unibank, Union of Banks o Armenia, Union of Credit Unions of Armenia, Visa, Wikimedia Armenia, 13 Aflatoun clubs implemented by COAF in different regions of Armenia, 1in.am, 2 media organisations., 5 local organisations and businesses, 50 Schools and Universities

NUMBER OF CHILDREN REACHED DIRECTLY:

  • 6 612

NUMBER OF PEOPLE REACHED INDIRECTLY:

  • 71 018

Central Bank of the Republic of Armenia
This year, Global Money Week in Armenia became part of a bigger national initiative, My Finance Month 2018, to engage as many participants as possible. Overall 94 events took place, including:

  • 2 competitions; "I make savings for..." art competition and Wikipedia contest on 17 financial topics;
  • 10 visits to financial institutions;
  • 2 visits to the CBA Money Museum;
  • 2 visits to Nasdaq OMX Armenia Stock Exchange;
  • 15 budgeting games in CityZen Children’s Center;
  • 9 savings games in 9 universities;
  • Brainiest TV intellectual game;
  • 4 Financial football online competition;
  • 30 open seminars on different financial topics;
  • 6 "Anti-café" format discussions on 4 main topics: deposits, pension funds, securities and leasing;
  • Children conducted 6 interviews on financial topics with financial experts.

During Global Money Week, the financial educational website of the Central Bank of Armenia was launched and introduced to the public.

Federation of Euro-Asian Stock Exchanges (FEAS)
Throughout GMW2018, the Federation of Euro-Asian Stock Exchanges (FEAS), along with partners, organised a public lesson for students of the Armenian State University of Economics. The FEAS Secretary General spoke about the "SME Tendencies in Capital Market" and covered topics, such as the importance of money and its usage. In addition, new monetary topics, such as cryptocurrencies and Blockchain were discussed. The literacy awareness session was offered to both youth and adults. Beside this event, the FEAS in Armenia promoted the FEAS Members who took part in GMW on its official social media pages, such as the Abu Dhabi Securities Exchange, the Bucharest Stock Exchange, and the Tehran Stock Exchange.

Children of Armenia Fund (COAF)
During GMW2018, Children of Armenia Fund organised multiple awareness-raising activities on financial literacy. Together with guest speakers from banks, startups, and corporations, COAF organised workshops and sessions for rural middle school and high school students. Topics included planning a budget, marketing, entrepreneurship, finance, pension funds, labor laws, and an introduction to startups. Students from COAF beneficiary schools had the chance to visit the Central Bank, to learn more about its missions and the national currency. They also had a tour of successful startups in Armenia and met experts, who shared their entrepreneurial skills and knowledge with them. The students also had the opportunity to attend thematic performances on financial issues and movie screenings on savings and expenses. They played financial games and participated in discussions on resource management and recycling. Finally, they visited money exhibitions and learnt about socio-financial projects.

Junior Achievement Armenia
Junior Achievement Armenia organised a wide range of events for local schools throughout the Week. Different schools were invited to the “Knowledge for Development” Center of the Central Bank, where they watched educational films, and attended lectures on subjects such as managing finances, inflation, saving, investments, and the role of the Central Bank. Later in the Week, the students visited the Central Bank where they met with a representative who spoke about the Bank’s structure and function. The students also had the chance to visit the money museum where they learnt a lot about the history of money. Tenth graders organised pedagogical lessons on entrepreneurship and the role of money for sixth graders. The students created short skits and participated in small debates in class. Students visited a pastry factory, where they met the administration staff, participated in a Q&A session, and discussed topics such as marketing research, advertisement, and the preparation of a business plan. To end the Week, students organised an exhibition called “Money Through My Eyes” and Noyemberian visited the largest factory in their region, “H&T Hakopians”. The students had the chance to meet with the production manager and other staff members, and to watch how products were made. The visit ended with an enriching Q&A session.


2017 Armenia Global Money Week

LEADING ORGANISATIONS:

PARTICIPATING ORGANISATIONS:

NUMBER OF CHILDREN REACHED DIRECTLY:

  • 4 500

NUMBER OF CHILDREN REACHED INDIRECTLY:

  • 9 000

Throughout Global Money Week 2017 and My Finance Month 2017, the Central Bank of Armenia, along with its partners, targeted children and youth through workshops, debates and seminars related to personal finance management. The topics were “From Yerevan to Wall Street”, “Financial Stability: a reality or a myth?”, “The art of Savings”, “Learn. Save. Earn”, and others.

During the GMW 2017, financial intellect games were offered to children, youth and adults, such as Financial Football, Brain Ring for youth, Savings Game, “Activity” Card Game, Individual Intellectual Tournament and more.

This year, the Central Bank of Armenia also held five competitions: a photo competition: “The only free cheese is in the mousetrap”, an art competition: “Where does money come from?”, infographics competitions and a recycling competition. The winners of the contests were granted different awards including stationaries, financial books and more. The best oeuvres gathered through the “Saving Jar” challenge were presented during the exhibition at the Dilijan “Knowledge for Development” Center.

In the scope of GMW 2017, students from numerous schools joined the excursion at the “Visitor’s Centre” of the Central Bank of Armenia, receiving information about the history of the Armenian Dram as well as on the role and policies of the Central Bank of Armenia. Throughout the Week, young people were able to participate in a bus tour to 13 financial companies and institutions including the Central Bank of Albiana, Financial System Mediator, Stock Market, commercial banks, insurance companies, credit organisations and more.

Furthermore, GMW 2017 activities organised by Children of Armenia Foundation (COAF) to encourage financial participation reached 1500 students. Alongside guest speakers from schools, universities, banks and corporations, COAF organised workshops and sessions at rural schools for middle and high school students. Throughout the Week, financial games for all the school students, movie screenings about saving and expenses, film discussions on resource management and recycling, theatrical performances about financial issues, social issues raised from lack of financial literacy, money exhibitions and social-financial projects were organised locally in the villages by students from 13 schools with the aim of engaging the communities as a whole and to raise their financial awareness.

Junior Achievement of Armenia also continued its active support of the Week by organising a student visit to the HSBC bank. JAA and the HSBC Bank organised a career day for 30 students at the Yerevan headquarters, where the aim of the educational tour was to show participants how the institution works.


2016 Armenia Global Money Week

LEADING ORGANISATIONS:

PARTICIPATING ORGANISATIONS:

  • AIESEC Armenia; “Mkhitar Sebastatsi” Educational Complex; Junior Achievement Armenia; Anania Shirakatsi (Educational Complex); Mkhitar Sebastatsi (Educational Complex); Eurasia (Educational Center); 109 high school (Yerevan); 195 high school (Yerevan); 3 high school (Gyumri); Gyumri Foton College; 5 high school (Vanadzor); 11 high school (Vanadzor); Dilijan State College; Armenian State University of Economics; Eurasia University; Aeon library/club; “PASS” LLC; Central Bank of Armenia Visitor Centre; The members of National Strategy of Financial Education; Aflatoun; COAF (Aflatoun partner)

DATE OF THE EVENT:

  • 14th - 21th of March

TOTAL NUMBER OF CHILDREN AND YOUTH ENGAGED:

  • 3 705

TOTAL INDIRECT REACHED:

  • 5 000

This is the second year that the Central Bank of Armenia lead different financial programs during GMW. In 2016 in Armenia, GMW started in March and was continued through “My Finance Month 2016” project in April.

FLY (Financial Literacy for Youth) project was conducted in four Armenian cities (Yerevan, Gyumri, Vanadzor, Dilijan). The project was organised by AIESEC Armenia in cooperation with the Central Bank of Armenia. Six young economists from Hong Kong, Brazil, USA, Turkey, Serbia and Canada are in Armenia with the mission to motivate and give basic financial knowledge on personal financial management to youth who do not have access to economic or financial education. One of the key points of the project is to create a cross-cultural platform for Armenian youth to develop their managerial and financial knowledge/skills. The participants developed their hard and soft skills in finances, leadership, management and the like. More than 30 seminars were held during the project with more than 450 participants (mainly students).

Young students of the Children of Armenia Fund and Military Aviation Institute after Marshal Khamperyants visited the “Visitor’s Center” of the Central Bank. They were informed about the history of Armenian Dram, the operations and role of the Central Bank, monetary policy, etc. The employees of the “Consumer rights protection and financial education” center of the Central Bank of Armenia organised two workshops for the youth: “Professional orientation” for the Children of Armenia Fund and “Personal finances: how to manage them in a better way?” for the Military Aviation Institutes students.

During GMW 2016, the Central Bank of Armenia announced five competitions: the Photo Story competition with the topic “Debt management”, the Art Competition for children between 5 and 12 years old with the topic “The life on my financial planet”, the Storytelling competition for the schoolchildren between 12 and 16 years old, the Financial Brochures competition with two topics: “My tomorrow starts today”, “Balance in everything” and the GMW Selfie competition. The competitions were promoted through the financial education website (www.abcfinance.am) as well as through social media (Facebook, Twitter). Thus far, there are approximately 400 participants though the final results will be recapitulated at the end of April during the “My Finance Month” closing ceremony.

An interactive workshop on “Personal Finances: why, what do I have to do with this?” was conducted by the Financial Education Specialist of the Central Bank of Armenia in the Mkhitar Sebastatsi Educational Complex. Before the workshop, the students danced traditional Armenian dances to integrate Armenian national spirit into GMW. After the workshop, the students organised a bike tour to demonstrate the importance of nature and its impact on improving the efficiency of saving processes. The programme had 70 participants involved.

Furthermore, on 15 March, Junior Achievement of Armenia, within the framework of the “Entrepreneurship and Civic Education for Young People of Armenia” programme, awarded small grants to eleven student business companies to implement social projects in their communities. To augment their social enterprise budgets, JAA held competitions wherein the social enterprises submitted a proposal to receive a grant for their community projects. One hundred student social enterprises presented a proposal requesting $300 to add on to their programme budgets. A committee selected 11 student companies, one from each region of Armenia. Each student social enterprise received $300 grant to implement their social project, and they were awarded at the Award Ceremony in Yerevan.

“Of course it’s easier to postpone things until tomorrow: I will do my lessons tomorrow, I will visit my grandparents tomorrow, I'll clean my room tomorrow… I will save tomorrow. But in this case, you can’t establish new goals and build a new action plan for tomorrow! Tomorrow is not around the corner. Successful people look forward and they don’t correct the mistakes of the past all the time! We suggest that you start the job that you need to do today - NOW. By saving, you can reach your personal goals faster. It will be your motivation for defining new goals and building your successful way. You can pay your University tuition on your own; you can help your parents; you can discover the wonderful world, etc. It is not a dream; it can be real if you gain from every moment. Think about it and act right now! Take part. Save smart!” Sona Lalayan, Coordinator of the financial educational projects in Armenia, Central Bank of Armenia

2015 Armenia Global Money Week

PARTICIPATNTS:

DATE OF THE EVENT:

  • 9th - 17th of March

NUMBER OF CHILDREN REACHED:

  • 450

The Central Bank of the Republic of Armenia participated for the first time in Global Money Week by conducting a series of events at the "Mkhitar Sebastatsi" Educational Complex, AYB School, College of Technology and Yeghvard School in Yerevan. Activities included seminars and debates about Armenian economy and trainings on the management of personal finance, the role of financial markets, IT and tourism in the economy, types of commercial organisations and other topics. Central Bank of Armenia also organised an essay competition ‘How would I manage my first million?’, and a competition where children prepared social and commercial advertisements on finance-related themes. Elina Hakobyan, Mariam Mansuryan and Karine Hovhannisyan won an essay competition ‘How would I manage my first million?’ with incredible stories that also showed their economic literacy. School children in the age group of 11-16 years old also visited the Visitor Center of the Central Bank of Armenia where they attended interactive seminars on the History of Armenian Dram, Monetary Policy, Inflation and Financial Markets of Armenia.

Civil society organisations in Armenia also actively participated in this year’s Global Money Week. Junior Achievement Armenia held a Student Trade Fair on 9 March in Gymri, the second biggest city of Armenia. During the fair, 12 student companies presented their products to potential consumers. The products included hand-made jewelry, scarfs, dried fruit, candles, purses and gift bags. The Student Trade Fair was an educational activity which allows the students to showcase their economic and financial knowledge and to demonstrate the entrepreneurial skills which they acquired during their studies.

Children of Armenia Fund also participated in Global Money Week by organising visits to the Visitor Center of the Central Bank of Armenia for Aflatoun students from Getashen and Dalarik schools. They visited the exhibition displays on the history of the national currency, laboratory for checking notes and coins, and participated in a special audio-session about the structure and functions of the Central Bank. Other events organised by Children of Armenia Fund included an interactive performance about important economic and financial concepts by students of Getashen village for their school mates and teachers. On 13 March, a special informative flash-mob was staged during the break at Dalarik School with an aim to raise awareness about this year’s theme - savings. More than 60 students and teachers joined the flash-mob.

2014 Armenia Money Week

PARTICIPANTS:

DATE OF THE EVENT:

  • 17th of March

Students who were a part of the Junior Achievement’s (JA) group in Armenia participated in Aflatoun’s Global Skype calls on March 17 where they connected with students from Colegio Santa Eulalia in Portugal. Aflatoun Day was celebrated globally on the last day of Global Money Week. The Armenian and Portuguese students loved chatting to each other about their respective entrepreneurial activities. The Armenian students showed off their self-made creative mobile phone accessories and shared that they raised approximately 300 euros by selling them. They explained that the money will be used for school excursions. The Portuguese students talked about their school garden which they harvest for fresh vegetables which they sell to the community (parents, teachers and other children).

JA Armenia also conducted enterprise activities in various schools through Global Money Week. The youngsters in the JA programme used social and financial enterprises to raise funds for peers with specific needs or for their school.