CyFLEC: Conference on financial education with a focus on youth

Preparing the next generation

Financial literacy is a cornerstone of modern society, equipping individuals with the knowledge and confidence to manage their financial affairs effectively while contributing to a more resilient and healthy economy. The Cyprus Financial Literacy and Education Commission (CyFLEC), established on 17 June 2024, and leading efforts to promote financial education in Cyprus, is organising its first international conference titled "Financial Literacy for the Youth: Preparing the Next Generation."

The conference will take place on Thursday, 13 March 2025, at 15:30 at Hilton Nicosia, bringing together institutional stakeholders, academics, financial sector professionals, and educators in a constructive dialogue on the importance of financial education and the policies that can shape the future. The keynote speaker at the conference will be the President of the Republic of Cyprus.

The role of CyFLEC and the significance of the conference

CyFLEC was established as part of a national initiative to implement the National Strategy for Financial Education and Literacy in Cyprus. CyFLEC is comprised of the Central Bank of Cyprus, the Ministry of Finance, the Ministry of Education, Sport and Youth, the Cyprus Securities and Exchange Commission, the Insurance Companies Control Service and the Registrar of Institutions for Occupational Pensions Provisions. Their goal is to develop policies and educational programs that enhance financial awareness and skills among citizens.

The need for financial education is more pressing than ever, and the conference highlights this urgency. From understanding basic banking services and managing personal finances to evaluating investment opportunities wisely, financial knowledge has become essential for individuals of all ages.

Conference program and distinguished speakers

The conference will commence with registration and guest arrival at 15:30, followed by an opening address at 16:00 by Lena Kleanthous, an official from the Central Bank of Cyprus and the conference chair.

At 16:05, official welcome speeches will be delivered by Christodoulos Patsalides, Governor of the Central Bank of Cyprus and President of CyFLEC, Athena Michaelidou, Minister of Education, Sport, and Youth, Andreas Zachariades, Permanent Secretary of the Ministry of Finance, and Panikkos Vakkou, Vice Chairman of the Cyprus Securities and Exchange Commission.

The President of the Republic of Cyprus, Nikos Christodoulides, will then deliver the keynote speech, focusing on the importance of financial education for the younger generation, the challenges they face in an ever-changing economic landscape, and the government’s policies and initiatives on the matter.

Following the keynote speech, the first panel discussion will take place under the title: “Learning from the World: Global Best Practices in Youth Financial Literacy”. Moderated by Michael Haliassos, Professor and Chair for Macroeconomics and Finance, at Goethe University Frankfurt, the discussion will feature internationally renowned academics and experts, including Adele Atkinson, Professor of Practice at the Centre on Household Assets and Savings Management (CHASM), University of Birmingham, Maria Demertzis, Chief Economist for Europe, The Conference Board Europe and European University Institute affiliate, Alexander Michaelides, Professor at Imperial College Business School and Dennis Philip, Professor of Finance at Durham University Business School.

The second panel discussion, titled “Empowering Cyprus’ Youth: Strategies and Opportunities in Financial Education”, will focus on financial literacy within Cyprus. Moderated by Sofia Anyfantaki, Senior Economist at the European Central Bank and Research Economist, Bank of Greece, the panel will include Panagiotis C. Andreou, Associate Professor of Finance, Department of Finance, Accounting, and Management Science, Cyprus University of Technology, Leonidas Kyriakides, Professor of Educational Research and Evaluation, University of Cyprus and Andreas Milidonis, Professor of Finance and Head of the Department of Accounting and Finance, University of Cyprus.

The conference will conclude with a presentation of key takeaways, followed by a networking reception at 18:35.