CySEC empowering youth with Financial Literacy initiatives

The Cyprus Securities and Exchange Commission (CySEC) has called for financial education to be included in the core curriculum in schools as it completed its rich and targeted activities program for this year’s Global Money Week 2024 (GMW 2024).

The GMW campaign is an international initiative dedicated to enhancing financial literacy, especially among the youth.

As pointed out in a press release on the effort, in addition to an online campaign aimed at spreading investor protection messages through the social media, various publications and informative appearances of CySEC representatives in the Mass Media, priority was given this year to promoting financial literacy among students and undergraduate students. Nine lectures were organised in schools across Cyprus and the Chairman of CySEC, Dr George Theocharides, delivered a lecture at the European University Cyprus (main picture).

The academic and educational community embraced CySEC's initiative, while participating students and pupils showed immense interest and actively participated, by asking questions and expressing opinions.

CySEC also participated, for the first time, in the "'pending Smart' program, organised by the NGO Junior Achievement Cyprus in collaboration with the Association of Cyprus Banks. This interactive educational program targeted sixth-grade students, offering insights into the role that money plays in our daily life and the financial behaviour of adults, through a programme which included engaging discussions and games.

CySEC has advocated for the introduction of a financial education course into the core curriculum of the educational program in schools for all children. The Commission believes that acquiring relevant knowledge and skills will enhance citizens' ability to effectively manage their finances and make more prudent and suitable decisions regarding their financial activities.

Referring to Cyprus Securities and Exchange Commission’s participation in GMW2024, Dr Theocharides said: “It is crucial that financial education starts from childhood as part of a lifelong learning to mitigate the risks associated with investing and the influence of social networks.”

He added: “We were delighted by the response of the academic and educational community throughout Global Money Week, and students and pupils showed immense interest and actively participated by asking questions and expressing opinions.”

CySEC remains committed to advancing financial literacy initiatives, striving to empower individuals, especially among the younger generation, with the necessary knowledge and skills to navigate the complexities of the financial landscape.

CySEC collaborated with the Central Bank of Cyprus, the Ministry of Education, and the Ministry of Finance to develop educational materials, including posters and lesson guides tailored to promote financial awareness among primary and secondary school students.

The activities of CySEC for investor protection are continuous and not limited to the duration of Global Money Week. The Commission is planning to release a new Investor Guide focusing on the increasing use of social media in promoting investments and "finfluencers" (financial influencers), who wield significant influence over the public on investment matters through the internet or social media platforms.