Financial Supervisory Authority develops educational programs for children and young people

Mr. Valentin Ionescu, Director of Strategy and financial stability at ASF, spoke at WALL-STREET 360 about running several educational programs for certain age categories.

Mr Ionescu, said: "The low level of non-banking financial knowledge has led to the preservation of open markets at an under-developed level, aided only by the intervention of the state (in cases such as privatizations carried out on the stock exchange, insurance and pension compulsory schemes), and a high degree of mistrust that produces instability, low liquidity and the lack of receptivity."

In 2015, ASF has released the series of events entitled "Be smart!", with the support of the Institute for Financial Studies, where children (aged between 1 and 14 years of age) learn, through play and exercise, about budgeting and financial planning. Another program is Academic Laboratory, which involved 2500 students, between 19 and 25 years old.

"From the perspective of non-banking financial market, preparing the youngsters for adulthood takes into account the transmission of financial knowledge, understanding of economic phenomena, consumer protection initiatives, and formation of skills and behaviors that add real value to the economy" said Mr. Ionescu.

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