Bank of Israel : “Global Money Week” will take place in Israel for the first time

At the initiative of the Bank of Israel's Banking Supervision Department and the Ministry of Education, and through the banking system's Financial Education Forum, financial education activities for youth will, for the first time in Israel, take place as part of the OECD's 'Global Money Week'.

Supervisor of Banks Yair Avidan said, 'The Banking Supervision Department ascribes great importance to the issue of proper financial conduct on the part of the public, and works in a variety of ways to help the public obtain these important skills, which are a fundamental life skill. As part of this activity, a wide range of content has been prepared that will help instill the basic foundations of financial education for teens, in the hope that they will contribute to improved financial literacy and help them make informed financial decisions. I thank the Ministry of Education for their fruitful cooperation, and thank the banking system for its involvement as part of its integral role in Israel's socioeconomic fabric.'

Global Money Week has been held in many countries since 2012, with the aim of increasing financial awareness and emphasizing its importance in day-to-day life among teens around the world. During the week, which is led by the OECD's international forum for financial education, approximately 465,000 financial education activities take place in 175 countries, encompassing more than 40 million youth participants.

This year, for the first time, at the initiative of the Bank of Israel's Banking Supervision Department and the Ministry of Education, various financial education activities will be taking place in Israel for teens during the week of March 9-16, 2021.[1]

As part of the Banking Supervision Department's activity, and through the banking system's Financial Education Forum, the following content has been prepared for the use of Israeli teens:

ü A friendly presentation on budget management, encouragement of savings, and the importance of monitoring bank account activity.ü A detailed guide for the instructor leading the presentation.ü An interactive game on budget management.

The presentation is intended for those in grades 9 and 10, and will be provided through an online broadcast featuring representatives of the Ministry of Education and the Bank of Israel, which will be broadcast on March 9, 2021 and 12:00 on the 'Academia BaReshet' website. Schools can choose to include the broadcast as part of their planned class schedule.

This and other content emphasizing proper financial conduct for youth, including online games and consumer guides, can be found on the Bank of Israel's website, and will be available to the general public beginning on March 9, with the start of Global Money Week.

[1]Global Money Week takes place around the world between March 22 and 28, but since Israeli teens are on Passover vacation during that week, the activities in Israel are being brought forward by two weeks.​