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Developing National Strategies for Financial Education: OECD/INFE High-Level Principles

This document outlines the OECD/INFE's High-Level Principles for National Strategies in Financial Education, highlighting the importance of empowering financial consumers in an evolving financial landscape. It discusses the low levels of financial literacy globally, emphasizing the need for national strategies to improve financial capability. Key points include governance frameworks, stakeholder roles, and implementation priorities. The aim is to promote effective financial education as a vital component of consumer empowerment, enhancing financial inclusion and protection.

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Developing National Strategies for Financial Education: OECD/INFE High-Level Principles

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  1. 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

  2. OUTLINE

  3. 1. Empowering financial consumers : a necessity in an evolving societal & financial context

  4. Low level of financial literacy/capability (OECD/INFE 2012 survey and national surveys)

  5. 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

  6. Financial Education (FE) : A Capacity building process OECD 2005definition

  7. OECD/INFE contribution to Financial Education

  8. OECD/International Network on Financial Education (INFE) Priority areas of work Projects developed thanks to the Russian Trust Fund

  9. 2. National Strategy for Financial Education (NS)Definition

  10. 2. National strategies for financial educationRelevance

  11. 3. Selected findings of OECD/INFE survey : NS status

  12. National Strategy for Financial EducationFramework Governanceand Role of stakeholers Roadmap and main priorities Implementationdirections andevaluation Preparatory and diagnosis phase

  13. The foundation : preparatory step or diagnosis phase

  14. Benefits of the preparatory phase

  15. 1st Building pillar :Governance mechanisms and role of main stakeholders

  16. 1st Building pillar (cont.) : the Role of main stakeholders

  17. 2nd Building pillar: Tailored roadmap

  18. 3rd Building pillar – implementation : Flexible directions Changingbehaviorsrequires a balancedcombination of regulation and qualityeducation

  19. THANK YOU! Flore-anne.messy@oecd.org www.financial-education.org

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