Banco de Portugal underlined the importance of financial education partnerships at an OECD/INFE conference

In this conference, the challenges of financial education were discussed, against a background of shifts in the provision of financial products and services (due to the growing offer of these products via digital channels) and changes to the characteristics of demand, as a result of the progressive ageing of the population in many countries and the entry of new generations (most notably, millennials) in the job market. They also discussed the ability of financial education to change behaviour, looking at the results of research on banking conduct in this scope.

Lúcia Leitão, Head of the Banking Conduct Supervision Department of Banco de Portugal and Chair of the Coordination Committee of the National Plan for Financial Education, took part in the panel “Trial and error: Lessons learnt from programme implementation and how these lessons have improved future projects”. In her speech, she highlighted the importance of developing strategic partnerships to reach the various target groups. Lúcia Leitão also presented the financial education programme for basic and secondary education schools (in Portugal) and the integration of financial education content into the curriculum of vocational training courses as two success cases of the strategy pursued by the National Plan for Financial Education.

You can view the presentation here.

This conference took place on the sidelines of the 11th Technical Committee meeting of the International Network on Financial Education (INFE).

About INFE

The International Network on Financial Education was created in 2008 by the Organisation for Economic Co-operation and Development (OECD) to promote financial education principles and good practices.

INFE serves as a platform to collect data and information on financial literacy, with a view to preparing analytical and comparative reports and developing research and policy instruments. Regulators, central banks, finance ministries and financial education agencies are members of this network from both OECD member and non-member countries.

Banco de Portugal is a founding member of INFE and is part of the Advisory Board, the body that sets strategic guidelines, and also takes part in several of its specialised working groups.