Global Money Week

2017 Kyrgyzstan Global Money Week

Leading Organizations:
National Bank of Kyrgyz Republic
Development Policy Institute

Participating Organizations:

Agency on the protection of Deposits of the Kyrgyz Republic, American University of Central Asia, AMFI - Association of Microfinance Institutions of Kyrgyzstan, Credit Information Users Association, State Agency for Youth Affairs, Physical Culture and Sports under the Government of the Kyrgyz Republic The National Bank of the Kyrgyz Republic German Society for International Cooperation (GIZ), Savings Banks Foundation for International Cooperation, University of Central Asia, School of Continuing and Professional Education, Institute for Youth Development, Non-Governmental Organization “Enactus in Kyrgyzstan”, The state Fiscal Service under the Government of the Kyrgyz Republic, The State Agency for Youth Affairs, Physical Culture and Sports under the Government of the Kyrgyz Republic, The Kyrgyz Republic Presidential Academy of Public Administration, Educational Initiatives Support Fund, Adam” Academy (former Bishkek Academy of Finance and Economics), Batken State University, Jalal-Abdal State University, Biybosun Karakol Pedagogical College, Kyrgyz State University of Construction, Transportation and Architecture, Razzakov State University, Kyrgyz National University, Kyrgyz Economic University, Kyrgyz Russian Slavic University, International Alatoo University, Naryn State University, Osh State Social University, Talas State University, University of Economics and Enterprise in Jalal-Abdad, University of Central Asia, SOS Children’s Village of Bishkek, 480 schools, CJSC Bank "Bai-Tushum", CJSC Bank “Komapion”, CJSC "FINCA Bank", Kyrgyz Investment and Credit Bank, “Mol-Bulak Finance” Microcredit Company, "Demir Kyrgyz International Bank", “Senti” Financial Company, Kyrgyzstan Halyk Bank, Republican Library for Children and Youth, “Bishkek Park” Shopping Mall , Policy Development Institute, Union of Banks of Kyrgyzstan, The International Finance Corporation (IFC), The Ministry of Education and Science of the Kyrgyz Republic, Ministry of Finance of the Kyrgyz Republic, The National Bank of the Kyrgyz Republic, OJSC "Aiyl Bank", OJSC "Dos credo bank", JSC "Eurasian Savings Bank", JSC "Investment Bank" Chang An", JSC «CB Kyrgyzstan", JSC "Rosinbank, OJSC Halyk Bank Kyrgyzstan, University of Central Asia, Senti financial company, Foundation for Education Initiatives Support, The Kyrgyz Public Radio and Television Corporation (incl. Pervyy Kanal and Pervoye Radio), Naryn Broadcasting Company, “Talas TV” Shopping Mall, “Super-info” Newspaper (entertainment newspaper with the largest circulation of 85 thousand) The Kyrgyz Public Radio and Television Corporation (incl. Pervyy Kanal and Pervoye Radio), “AKI Press” News Agency (incl. “Tazabek” and “Turmush”, the most popular news website), "Akchabar" News Agency, “Azattyk” News Agency, “Zanoza” News Agency, “Zanoza” News Agency, “Kabar” News Agency, “Vechernyy Bishkek” News Agency, “24.kg” News Agency, “5News” News Agency, “KNews” News Agency, “Mir” News Agency, “Zaman” News Agency, “BIA” News Agency, “KG Inform” News Agency, “Fact.kg” News Agency, “Manas” Radio, “Maral” Radio, “Most” Radio in Talas.


Number of children reached directly: 28 000
Number of children reached Indirectly: 1 600 000

During Global Money Week, the participating organizations of Kyrgyzstan have united into one initiative group, and held nearly 700 events, in which over 28 thousand children and young people, and 12 thousand adults took part. The total press outreach constituted over 1,6 million people.

The official opening of the week was held as usual at the press conference with the Governor of the National Bank of Kyrgyz Republic, Director of the Deposit Protection Agency of the Kyrgyz Republic, the Chairman of the Development Policy Institute, the President of the Kyrgyzstan Union of Banks and the CYFI Senior Advisor.

During Global Money Week in Kyrgyzstan, representatives of governmental institutions, NGOs, international organizations in the Kyrgyz Republic, and financial institutes managed to appeal to young people in terms of financial planning, savings, financial services, by providing entertaining lectures and organizing fun activities. Children visited the Ministry of Finance, the Agency on the protection of Deposits, hedge funds, banks and, therefore, could see the inner operations of these institutions for themselves. Interesting excursions were held, namely to the Money Museum of the National Bank. One of the commercial banks also organized a special exhibition of ancient coins.

For children aged 12-16, there was an exciting quest game. The participants had to do various financial exercises while visiting several educational stands, and for every correct answer they received game money “bilimi” (“knowledge”), which at the end they could exchange for real prizes.

On the 28th of March, one of the largest shopping malls of Bishkek hosted a children’s fair, where children took on the role of entrepreneurs and sold goods of their own produce. Considering the large number of participants and the high interest of the visitors, such fairs will now be held every week on a regular basis.

Prior to Global Money Week, children’s national “Best Picture”, and the “Participation of pupils and parents in discussing the school budget and increasing financial literacy of youth” competitions were announced, as well as a competition among teachers for the best taught class on financial literacy, and a competition among journalists for the best media coverage of Global Money Week. This year, the competition “Best class on financial literacy” was held for the first time, and encouraged the teachers of Bishek, Osh, and Chuyskaya, Talasskaya and Narynskaya regions to teach classes on financial literacy. All competitions had both stimulating and highly multipliable effects. For instance, according to some participants of the paintings competition, in the process of making art they had to do some research about finance. The participants got their parents involved in the meantime, and the parents were also very interested in the newfound information.

University of Central Asia SPCE, along with partners, reached 300 children and youth through visits to Kyrgyz Investment Credit Bank, Naryn State University and schools. Financial literacy awareness sessions were offered to children, youth and for adults in SPCE Naryn and in Learning Center in Bishkek. A photo contest on how to save and spend pocket money was held, along with an essay contest among 14-17-year-old teenagers on “A penny saved is a penny earned.”, that was conducted on March 30 in Naryn. At the close of the week, visits to banks were held, where students could meet with bank employees.


2016 Kyrgyzstan Global Money Week

Leading Organizations:
National Bank of the Kyrgyz Republic
Participating Organizations:
Union of Banks of Kyrgyz Republic, Ministry of Finance of Kyrgyz Republic, State Agency for Youth Policy and Sports, Agency of Development Initiatives, University of Central Asia (UCA) Naryn, SOS Children’s Villages, Educational Initiatives Support Fund, Bishkek Academy of Finance and Economics and other educational institutions, German Society for International Cooperation (GIZ), International Finance Corporation (IFC), Finance Company “Senti”, Bai Tushum Bank, FINCA Bank, Optima Bank, Kyrgyz Investment Credit Bank and other financial institutions
Date of the event:
14th - 20th of March
Total number of children & youth engaged: 36 100
Total indirect reach: 29 800

The National Bank of the Kyrgyz Republic and Development Policy Institute were once again coordinating Global Money Week in a nation-wide campaign in Kyrgyzstan. More than 40 different organizations became part of the Global Money Week 2016 national committee, including the Union of Banks of Kyrgyzstan, Educational Initiatives Support Fund, Bishkek Academy of Finance and Economics, GIZ, IFC and many financial institutions and NGOs. The GMW campaign offered various activities, trainings and contests, aimed at inspiring children and youth to gain knowledge about money, savings, possibilities to start business and employment, as well as at drawing public attention to the necessity of being financially literate in order to make informed decisions in the future.

The Week kicked-off with a national press conference with the participation of the Governor of the National Bank of Kyrgyz Republic, President of the Union of Banks, Chairman of Development Policy Institute and others. An exciting video competition was held in Kyrgyzstan from February 16 to March 16, 2016. The key objective of the contest was to draw the attention of teenagers and youth to the enhancement of financial literacy, to the importance of smart money management, setting objectives and developing realistic financial plans. Results of the competition were announced at the closing ceremony of the Week. Moreover, two essay competitions were held in the country – one for children from orphanages on the topic “Take part. Save smart!”, and the other one on the topic “What is money and what do we need it for?” for children of three age groups – 7-9 years old, 10 to 12 years old and 13 to 15 years old. Winners of the competition received great gifts sponsored by commercial banks that took part in the campaign in Kyrgyzstan.

On 18 March, the National Bank of the Kyrgyz Republic hosted a roundtable where the Governor presented the National Financial Literacy Program of the country for 2016-2020 for the first time. Youth was declared as the priority target group, and integration of compulsory financial education in the school curriculum was declared as one of the target objectives of the national program.

The University of Central Asia SPCE in Naryn also held GMW 2016 lectures and debates on “Save today, Safe tomorrow” at the Resource Center to bring the young generation’s attention to the banking system, information about savings, deposits and loans and to generally give knowledge about financial literacy. A tour for youth to the offices of the Kyrgyz Investment Credit Bank was also organized.

More than 16,000 children and young people took party in Global Money Week 2016 events in Kyrgyzstan.

“Conducting Global Money Week in Kyrgyzstan is essentially important for each person in the country, and particularly for everyone in our village because financial literacy is as important as school or university education. These skills with stay with us for the rest of our lives.” Bakhram Rakhmonkulov, Batken region, Kyrgyzstan

2015 Kyrgyzstan Global Money Week

Participants:
National Bank of Kyrgyz Republic Ministry of Labour, Migration and Youth Ministry of Finance Department of Education of Bishkek city The State Service for Financial Market Regulation and Supervision of Kyrgyz Republic Deposit Protection Agency of Kyrgyz Republic Association of Microfinance Organizations of Kyrgyzstan Union of Banks of Kyrgyzstan Development Policy Institute FINCA Bank Kyrgyzstan Aiyl Bank Bai Tushum Bank Kyrgyz Investment and Credit Bank Credit - Information Bureau “Ishenim” Institute of Youth Development IFC Kyrgyzstan GIZ Kyrgyzstan University of Central Asia – Aga Khan Foundation SOS Children Villages Kyrgyzstan Association of Guarantee Funds
Date of event:
9th - 17th of March
Number of children reached:
6 000

Following the success in 2014, a national Global Money Week working group led by National Bank of Kyrgyz Republic with more than 25 stakeholders from different sectors was formed to plan for the celebrations in 2015. The celebrations began on 10 March with a national press conference in Bishkek attended by the participation of the Governor of the National Bank. Finsabat, the first national website on financial literacy with the special section for children, and children’s comics book were also launched during this press conference.

«Children responded well to all activities, and were very active in discussions, competitions and trainings and asked a lot of questions. Global Money Week in Kyrgyzstan was a big success. We will definitely continue this tradition next year.”Mr. Tolkunbek Abdygulov, Governor of the National Bank of Kyrgyz Republic

More than 200 financial literacy activities were conducted for more than 6000 children and youth across Kyrgyzstan, including those in remote and rural areas of the country. Activities included expert lectures, seminars, master classes, round tables, visits to commercial bank branches, quizzes, competitions, and open days at commercial banks and government agencies, including Ministry of Finance of Kyrgyz Republic, Deposit Protection Agency, National Bank of Kyrgyz Republic etc.

42 financial literacy trainings for more than 1000 schoolchildren and students were conducted by FINCA Bank and Union of Banks; tours and master-classes on youth entrepreneurship by the Ministry of Labour, Migration and Youth; educational lectures by employees of the National Bank; excursions to the Money Museum of the Bank for kids by SOS Children’s Villages and other youth groups; visits to bank branches, interactive games, shows and seminars organized by the Development Policy Institute in schools around the country; round-table discussion for the student clubs by FSA Kyrgyzstan; visits to Kyrgyzstan Stock Exchange and lectures about the history of money by Association of Microfinance organizations; video polls about financial behavior of youth by the Institute of Youth Development; lectures for students by IFC Kyrgyzstan; seminars at the University of Central Asia, and many other very interesting and diverse events were organized.

In February 2015 a citywide drawing competition on the topic “Save today. Safe tomorrow” was organized. The results of this competition were announced at the closing ceremony held at the G. Aitiev Kyrgyz National Museum of Fine Arts. The ceremony was inaugurated by the Governor of the National Bank and Chairman of the Development Policy Institute. Winners of the competition received prizes from the National Bank, deposit certificates from financial institutions (FINCA Bank, Bai Tushum Bank, KICB and Aiyl Bank) and other organizers. Exhibition of children pictures was open at the Kyrgyz National Museum till end of March 2015.

Global Money Week events and celebrations were extensively covered in major national press, media, TV and radio channels.

“I have never been in the part of the bank, where everything happens: where bankers work, where interest rates are determined, where decisions on giving loans are being made. It was really interesting. Now I will try to persuade my mom to open me a bank account, so I can save money. I want to get a good education. Thank you for organizing this visit!”Eldiyar, Grade 5 student

You can find more information about various Global Money Week activities in Kyrgyzstan on Facebook page of Global Money Week-Kyrgzystan.

 

2014 Kyrgyzstan Global Money Week

Participants:
Union of Kyrgyz Banks” ALE FINCA Micro-Credit Company CJSC Academy of State Management under the President of KR School-Lyceum No 13
Date of the event:
12th - 13th of March
Number of children reached:
50

There were financial educations presentations abound in Kyrgyzstan during this year’s Global Money Week. The first set was given by representatives from Association of legal entities "Union of Kyrgyz Banks" and the FINCA Microcredit Company CJSC (which has a long-term and multi-component project on Financial Literacy) to around 50 students in the capital city, Bishkek.

In the Academy of State Management under the President of KR a presentation was provided to students on financial literacy that focused on the theme of “savings”. It was followed by discussions between the financial experts and the students in attendance. In addition, a financial presentation during an economic lesson focused on the main rules of savings for pupils of School-Lyceum #13 was provided.

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