XacBank for financial education
Global Money Week (GMW) is an annual global celebration, initiated by Child & Youth Finance International (CYFI), which includes local and regional events aimed at inspiring children to learn about how to save money and create livelihoods. In 2016, GMW further expanded, reaching over 7 million children and young people across 132 countries.
Tenger Financial Group and XacBank have joined the celebration for 4 consecutive years and organized events engaging young people in learning about financial education and financial inclusion. In 2017, Tenger Financial Group subsidiaries’ together with X.A.C NGO /GFDA/ organized educational workshops about smart spending habits, the importance of savings and bank cards, engaging over 1100 students from 8 schools and universities.
The international celebration ran from 27th of March to 2nd of April, 2017. During the week, 4 high school students visited XacBank, Tenger Insurance, and XacLeasing to understand how financial companies operate at branches and headquarters. Students were able to understand the concept about financial products, ethical financial relations, financial responsibility and risk. They were surprised to see how professionals from diverse areas of study worked at financial institutions and received advice on choosing their future professions.
One of the leading professional in financial educational sector -Oyunchimeg. S, head of X.A.C NGO, have said “Our financial education effort is not limited to Global Money Week 2017 but has also been continuously operational for more than 7 years. We started our financial education program dedicated to teenagers in 2009 and our Aflatoun program dedicated to children between the ages of 8-13. Through these programs, we delivered financial education on money, wealth, savings, and financially-smart decision making habits to over 50 thousand youths all over the country. All the while we invested more than 200 million tugriks during the 7 years of its continuity. The long-term goal of the programs was to deliver financial education to every child in Mongolia. We have now come very close to our goal. We have worked as a leading party in the “National Plan for Increasing Public Financial Education” and incorporated our financial education programs’ content and teaching methodology into the national high school curriculum. Global Money Week’s celebration brings the chance for Mongolian youths to be global citizens and is a great opportunity to publicize the importance of financial education. We believe that there should and will be more organizations taking part in this effort in the future.”
Let’s open more opportunity for our next generation!
