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The OECD/WB/RBI Conference on Financial Education held in New Delhi on March 4-5, 2013, focused on empowering financial consumers amid a changing societal and financial landscape. The event underscored the necessity of building financial literacy through national strategies that aim to enhance consumer protection and promote financial inclusion. The OECD/INFE High-Level Principles serve as a framework for countries to develop tailored financial education initiatives, ensuring effective governance and collaboration among stakeholders to improve financial capability.
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DEVELOPING NATIONAL STRATEGIES FOR FINANCIAL EDUCATION: OECD/INFE HIGH LEVEL PRINCIPLES ______________________________________________ OECD/WB/RBI CONFERENCE ON FINANCIAL EDUCATION THE RUSSIA/WORLD BANK/OECD FINANCIAL LITERACY AND EDUCATION TRUST FUND, 4-5 MARCH 2013, NEW DELHI Flore-Anne Messy Senior Policy Expert Executive Secretary of the International Network on Financial Education OECD Financial Affairs Division
1. Empowering financial consumers : a necessity in an evolving societal & financial context
Low level of financial literacy/capability (OECD/INFE 2012 survey and national surveys)
Financial consumer empowerment trilogy : Global recognition OECD/INFE High-Level Principles on National Strategies for Financial Education G20(2011) High-Level Principles on Financial Consumer Protection developed by the OECD G20 (2010) Principles for Innovative Financial Inclusion
Financial Education (FE) : A Capacity building process OECD 2005definition
OECD/International Network on Financial Education (INFE) Priority areas of work Projects developed thanks to the Russian Trust Fund
National Strategy for Financial EducationFramework Governanceand Role of stakeholers Roadmap and main priorities Implementationdirections andevaluation Preparatory and diagnosis phase
1st Building pillar :Governance mechanisms and role of main stakeholders
3rd Building pillar – implementation : Flexible directions Changingbehaviorsrequires a balancedcombination of regulation and qualityeducation
THANK YOU! Flore-anne.messy@oecd.org www.financial-education.org