To strengthen financial literacy of the population, the Bank of Lithuania takes an initiative of arranging seminars and implementing other educational projects for the population of Lithuania.
To strengthen financial literacy of the population, the Bank of Lithuania takes an initiative of arranging seminars and implementing other educational projects for the population of Lithuania.
The first educational arrangement was held for elderly people. Members of the Lithuanian Pensioners Union “Bočiai”, the Third Age University, Lithuanian Association of the Elderly and other honourable age participants of the arrangement were informed about advantages and threats in payment card settlements, the seniors were given practical advice on how to distinguish genuine cash from counterfeit. After the arrangement the participants visited the Money Museum of the Bank of Lithuania.
“We appreciate this initiative taken by the Bank and hope that in the future it will organise more arrangements for the education of consumers”, said Mrs Zita Žebrauskienė, Prorector of the Third Age University, in sharing her impressions. “We picked up knowledge and gained much practical benefit because presentations were delivered by real experts in their field”, noted Mr Petras Ruzgus, Chairman of the Lithuanian Pensioners Union “Bočiai”.
Presentations to the seniors were delivered and questions of their concern answered by Mr Marekas Močiulskis, Director of the Economic Department of the State Consumer Rights Protection Authority, and Mrs Nijolė Baltrūnienė, Senior Expert of the Currency Examination Division of the Cash Department of the Bank of Lithuania.
The Bank of Lithuania plans to organise similar seminars for pupils of Lithuania and other groups of the society as well. At the same time new forms of education are intended to be looked for.
“Economic education is among the Bank of Lithuania operational priorities to be paid more attention also in the future. We are of the opinion that economic and financial awareness is vitally necessary. Apart form helping to manage personal finances in a responsible and rational way, it contributes in avoiding negative consequences for the entire national economy, such as irresponsible lending and price bubbles caused by lending”, stated Mr Vitas Vasiliauskas, Chairman of the Board of the Bank of Lithuania.
After restructuring the system of the financial institutions supervision, the Bank of Lithuania will start to investigate complaints, solve disputes of customers and financial service providers. Therefore, in the future much attention is envisaged to be focussed on the education of consumers of these services.
