CBRT assigns special importance to financial education in regard to the close relationship between financial stability and financial education. Considering that the financial sector is still developing in our country and the debt ratio is lower than that in many countries, financial education becomes more significant.
The Efforts Made in Turkey and by the CBRT in the Field of Financial Education
The CBRT, together with the Capital Markets Board (CMB), organized the “International Conference on Financial Education and Financial Awareness: Challenges, Opportunities and Strategies”, on 9-11 March 2011 in İstanbul in order to raise financial awareness and contribute to financial education in Turkey. Additionally, in the same period, “Access to Financial Services and Financial Education in the World and Turkey” (Dünyada ve Türkiye’de Finansal Hizmetlere Erişim ve Finansal Eğitim) booklet (only available in Turkish) was published and distributed across the country.
Alongside, the CBRT makes assessments and warnings on the management of financial assets and liabilities of individuals as well as on whether the individuals make their borrowings in proportion to their debt capacities and income by properly using financial products that are free of exchange rate risk and capable of improving the risk management culture in all segments of the economy, via its Financial Stability Report, other publications and announcements. Contributing to the improvement of the risk management culture and raising awareness on financial issues in society is a part of the CBRT Strategic Plan as well.
Considering its individual and social benefits, financial education needs a sound policy framework, a strong policy will and decisiveness. Since it is closely related with financial stability, studies on financial education will contribute to financial stability significantly. The CBRT, in cooperation with related institutions and with its financial stability perspective, continues to participate actively and support studies in financial education issues both on national and international platforms.