Financial products and training,

8:43 PM

The Organisation for Economic Co-operation and Development (OECD) defines financial education as “the process by which financial consumers/investors improve their understanding of financial products and concepts and, through information, instruction and/or objective advice, develop the skills and confidence to become more aware of the financial risks and opportunities, to make informed choices, to know where to go for help, and to take effective actions to improve their financial well-being.” Based on this definition, financial education is something that would be beneficial to us all – the financially included as well as excluded. However, for those of us who believe access to the right type of financial services is central to addressing poverty, financial education becomes even more vital since we would like to equip poor and vulnerable people with the skills and knowledge to manage financial resources effectively and over a sustained period of time – hopefully a lifetime.

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