Human Resource Development for Improving Financial Literacy of School and University Students and Adult Population
Federal Methodological Centers with regional networks have been created in the leading universities (Moscow State University, National Research University Higher School of Economics, Russian Presidential Academy of National Economy and Public Administration, Financial University under the Government of the Russian Federation).
About 900 tutors for financial literacy promotion among the adult population have been trained.
Educational Programs and Public Awareness Campaign
The Core Competencies Framework on Financial Literacy for Russia has been developed.
- Core Competencies Framework on Financial Literacy for Adults
- Core Competencies Framework on Financial Literacy for Youth
17 teaching and learning kits (83 books) have been developed for schools (2nd to 11th grades), orphanage and boarding school students, and for institutions of vocational secondary education. The study kits include study guides for students and teaching materials for their parents and teachers.
Educational programs for (nonfinancial) bachelor and master degree courses have been successfully tested in 15 regional universities.
30 training modules covering a variety of topics have been developed for various age groups of adult population. Over 250,000 people have already completed their online and offline training.
The following nation-wide Financial Literacy Events have been held/are planned: annual National Savings Weeks for adults; annual National Weeks of Financial Literacy for Children and Youth.
Over 1.5 million of students and 500,000 of adults have participated in various educational events on financial literacy.
Improvement of Consumer Rights Protection in Financial Sector
Rospotrebnadzor operates 580 public assistance offices and 84 centers where citizens can receive expert help relating to consumer rights protection for the consumers of financial services. 170 interactive information booths have been installed in all Russian regions, providing information on the core financial services and consumer rights.
Mechanisms for regular assessment and public information of the current state and dynamics of consumer rights protection in the financial sector:
- Annual public reports of Rospotrebnadzor “On the Status of Consumer Rights Protection in the Financial Sector”
- Independent monitoring of financial organizations published twice a year
Recommendations have been developed for improving the legislation and business practices concerning information disclosure to the consumers of financial services.
The Good Ideas Fund, a project designed to support on a competitive basis the initiatives in financial literacy and consumer rights protection. A total of about 40 initiatives have been supported, some of them addressing socially vulnerable population groups, such as pensioners, convicts and their relatives, people with rare diseases, graduates of orphanages and others.
The хочумогузнаю.рф website presents comprehensive information on the rights of consumers of financial services, legislative framework, interactive materials for self study of the rules for service users.
Public Awareness Campaign
The campaign includes regular nation-wide educational campaigns on financial literacy: two National Savings Weeks for Adults and two National Weeks of Financial Literacy for Children and Youth have been held.
National Savings Week (October 23-31, 2015)
150,000 online and offline participants, 500 events in 42 regions. Over 60,000 participants have passed the National Financial Literacy Examination. Deputy Ministers of Finance of the Russian Federation Alexey Moiseev and Sergey Storchak joined the opening and closing events of the Week. The Week’s events have been supported by 18 companies.
National Week of Financial Literacy for Children and Youth (March 14-22, 2016)
Over 800,000 children and teenagers from across Russia and over 100,000 adults have participated in the Week. A total of 10,200 educational events have been held in all regions of the country. The essay competition has received over 2,000 submissions, 30,000 students have taken the financial literacy test.
Read more about the results of the 2014-2016 Financial Literacy Weeks for Children and Youth on Global Money Week website (external link to Russia’s page on the Global Money Week website http://www.globalmoneyweek.org/regions/europe/russia.html)