BRAC celebrates Global Money Week in Bangladesh

March 21, 2013 by

BRAC’s youth-focused programmes celebrated the Global Money Week in Bangladesh with three-day training on financial literacy for adolescents. The training was arranged by our ‘Adolescent Development Programme’ and ‘Social and Financial Empowerment of Adolescent (SoFEA)’ programme. With an objective to empower the adolescent girls financially, the training’s key focus-areas include, financial planning, savings, money management, budgeting and introduction to formal banking. We trained 622 SoFEA club members as trainers, so they can drive a nation-wide financial-literacy training for the 225000 members of our adolescent clubs in Bangladesh.

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On the first day of the training session the club members were taught to cultivate and practice their savings habit with piggy banks or small boxes, and in the last day we introduced them to the formal banking system.

SoFEA provides girls with formal savings services and financial-literacy trainings. 70 percent of the programme’s 13,721 clients have savings account with us. On the occasion of the global money week, SoFEA introduced a new, adolescent-friendly passbook for the clients and after receiving the financial literacy training, most of the participants opened their savings accounts with the programme.

Global Money Week is an initiative of the Child and Youth Finance International, who is promoting this event across 80 countries, engaging 185 organisations to reach a million children and youth.