North Cyprus Banks Association and KMC Consulting introduced the “Accountable Money: Know Your Budget Cyprus”, the first Financial Literacy, Awareness and Competence Development Project with an event held on April 26, at the Nicosia Concorde Tower Hotel.
The lauch event of the “Accountable Money: Know Your Budget Cyprus” Financial Literacy Project, which is funded by the North Cyprus Banks Association and managed by KMC Consulting was attended by President Ersin Tatar, Minister of National Education Nazım Çavuşoğlu, Minister of Economy Olgun Amcaoğlu and Mayor of Turkish Nicosia Municpality Mehmet Harmancı, as well as representatives from public institutions, municipalities, banks, non-governmental organizations and representatives of educational institutions.
In his opening speech, the President of the Banks Association, Olgun Önal stated that, financial literacy has become even more important in a period where there are more financial crises than ever before and that individuals have to protect their assets against crises. In his speech, President Ersin Tatar emphasized the importance of business people understanding the state of their financial situation and underlined that in order for people to determine cash flow, they should be able to calculate their income and expenses at least at a basic level, and noted that the financial literacy project is a very important step in supporting financial development of enterprises. In his speech, Minister of National Education Nazım Çavuşoğlu stated that they will gladly contribute to the project by instilling financial literacy in individuals at a young age, and that they would work with the Banks Association to introduce the curriculum into schools starting from high schools.
After the speeches, a cooperation protocol on financial literacy training was signed between the North Cyprus Banks Association and the Ministry of National Education. Within the scope of the protocol, it is aimed to increase the awareness, behaviour and competencies of young people on financial literacy, by building their capacity to understand financial concepts, to correctly manage their personal finances, to use financial products and services , and as a result, to support the construction of a healthy financial future for young people. It is envisaged that the first trainings to be given in vocational high schools as pilots will start in September.
The Financial Literacy Project "Accountable Money: Know Your Budget Cyprus" was introduced to all stakeholders with the presentation made by Niyal Öztürk from KMC Consulting. The project's target audiences include high school and university students, micro-enterprises, SMEs, women, entrepreneurs, farmers and retirees. The progrmme includes training programs that will enable individuals to understand financial concepts, develop their competencies in budgeting and money management, and raise awareness of the correct use of financial products and services. The project aims to train 870 people from different regions by organizing seminars, developing training tools, and carrying out visibility and advocacy activities.
Commentaires