The education system, in conjunction with the
Banking Supervision Department, will hold a financial awareness month during
November 2017, which will include classes to 9th grade students
The Ministry of Education and the Bank of Israel
Banking Supervision Department announce a new activity to increase financial
awareness among youth, which will take place between October 29 and November
29, 2017, and will include classes in hundreds of 9th grade
classrooms throughout Israel.
This activity is the first of its kind on a country-wide
basis, and aims to increase financial awareness among youth, to provide
practical tools for their banking activity, and to promote their financial
independence and well-being at the age when they are permitted to open their
first bank account.
The banking system, the association of banks, the
forum of local parents associations and the national student and youth council
are also involved in the activity.
Ministry of Education Director General Shmuel Abuav
said, “The education system is deepening various areas of knowledge, expanding
general education, enriching students with knowledge, understanding, thought,
and social involvement, and also giving them useful tools to prepare for adult
life. Financial education is intended precisely for this purpose. A graduate of Israel’s education system needs
to know basic financial terms, and this program, together with other
system-wide programs, will give the students these essential basic terms.”
Supervisor of Banks Dr. Hedva Ber said, “The Banking
Supervision Department attributes great importance to providing financial
understanding, which is a basic life skill, to help youth during their teens
years after afterward in their adult lives. Controlling expenses, knowing the various means of payment, and informed
financial consumption with an understanding of the costs are part of the
information that we would like to provide to youth that have reached the age
where they are allowed to open a bank account. I am happy to have the opportunity to provide teens with the foundations
and practical tools to promote their financial independence, and I thank the
Ministry of Education and the banks for their fruitful cooperation in this
Proper financial behavior is one of the most
important skills and is part of the basic life skills that each of the students
in the Israel education system needs.
This program is a joint program of the Ministry of Education and the
Bank of Israel’s Banking Supervision Department, with the involvement of the
banking system, the Association of Banks, the Forum of Local Parents
Associations and the National Students and Youth Council. It is the first activity of its kind on a
nation-wide scale, with the aim of increasing financial awareness among
ninth-grade youth and providing practical tools for their banking behavior, and
to promote their financial independence and well-being at the age at which they
are permitted to open their first bank account.
The Financial Awareness Month in the education
system will take place between October 29 and November 29, 2017. During that month, classes will be given in
hundreds of 9th grade classrooms with the aim of increasing the
students’ financial awareness. This will include an experiential training
program at the students’ level, using digital aids that offer the students a
practical and relevant tool box for day-to-day financial and banking behavior
and improving their financial security over time.
The contents, which are uniform in all the schools,
will relate, among other things, to the following subjects: budget management,
savings, tools for responsible and informed financial behavior, the background
of the banking system, basic financial terms, acquaintance with the different
means of payment, and more.
In the coming days, a call will be issued to the
schools inviting them to register for the activity and to ensure their place as
part of this unique program. The
activity will be conducted in the classrooms by representatives of the banking
system, with content and tools build under the guidance and with the approval
of the Banking Supervision Department and the Ministry of Education. In some of the schools, the activity will
also be conducted through teachers who will undergo training in the subject
matter and by Bank of Israel employees.
For More Information, press here (Hebrew)