The model of community based financial education and entrepreneurship ... · The model of School...
1
The model of School Bank The model of community based financial educaon and entrepreneurship educaon has three core components: 1. Community centers, non-formal educaon organizaons, group center, school and college becoming agents of financial instuons and/or telecom operators to facilitate the financial access for children and youth. 2. Mobile banking technology (or other branchless banking technology) provided by telecom operators, financial instuons, or developers. 3. Financial instuons that provide savings account for children and people to facilitate the saving through a digital banking plaorm and they help community people to expand their business by giving them small and medium enterprise loan. Financial literacy to capability Discovery help your customers/employees/students to idenfy individual interests, needs, goals, and potenal threats. "I've started saving for rerement, but do I have enough?” Discovery Educaon The Teaching Method Educaon Provide goal-based learning, intuively relevant to individual objecves. “Wow. I didn’t realize people in my income bracket, at my age, have saved that much more than I have. I want to learn how to improve my financial health—now!” Movaon Encourage your consumers to learn, develop capacies and work toward wellness using relevant incenves. “I’ve now idenfied a plan that can help me achieve my rerement goals and have a choice of incenves should I choose to pursue it.” Movaon Connecon Engagement Engagement Create a sense of community by through comparave analycs and creang a dialogue with individuals. “I can see how I am progressing versus my peers. I like that I can contact a mentor or coach at any step along the way.” Connecon Be the hero! Sasfy you're newly highly movated, educated and goal-oriented consumers’ needs by linking your products and services to individual objecves. “I can access products, programs, and other resources that fulfill the plan I’ve idenfied. That’s great! Now I turned what I have learned into acon Impact Partnered Instuons 179 High Schools 17 College 279 Community based local group Female Male Total Reached Male : 76,944 Female : 98,102 Total : 1,75,046 13-19 20-35 36-59 60-79 Age 23,761 27,291 36,045 19,683 29,794 26,350 4,972 7,150 Measurable Outcome Financial regulaons that post substanal barriers for people below the age of 18 and over, to access formal financial regulators change banking access. Behind the policy level discussion, FINLIT Nepal is a proud knowledge partner to organize a policy discussion and advocacy work. Most importantly, 83% family members, they have started to talk about money inform of children, that makes children and youth more accountable and responsible towards parent's money. Frequently organized the workshop in order to make advancement in mobile technologies and the building of telecommunicaon and banking infrastructure. We got a support from Ministries of Educaon and central bank of Nepal to achieve scale-up for of Community based financial educaon cum Community Bank by encouraging schools, high schools, university and community learning center to include financial educaon to their curriculum and parcipate in Community based financial educaon cum Community Bank through different iniaves namely, School Bank, Global Money Week, Money Talk etc. Awareness towards the issue of financial inclusion of children and youth is enhanced at the naonal level. Change of mindsets is slowly taking place to ensure the real system change. 69% community people has already started their small enterprise and 21% youth parcipaon are engaging with saving product of bank and financial instuons. Current status of project The trained staffs are in the field across Nepal to conduct financial literacy and entrepreneurship educaon awareness programs for 17 schools, 20 community based organizaon, 15 local women group per district, across all the five development regions of Nepal. These districts have been selected based on the absence of financial literacy school campaigns and low saving habit rate. The trainers are working in collaboraon with Rural Municipality Office, Nepal Government. Also within the 28 districts in collaboraon with the local banks, the volunteers are Founder of FINLIT Nepal, Mr. Prakash Koirala's grandfather was priest and he had demonstrated his wonderful leadership in terms of taking financial decision and controlling all the money leakages at his me. In the same community Prakash saw the difference between people, quarrel between husband and wife and mismanagement of public property just because they did not understand the value of money. He realized that, poor people are Story behind... becoming poor and poor every day just because they can't understand their personal finance. He started to know people's need and then he helped them to develop the skills and financial awareness to become discerning financial customer, who, themselves can make sound decisions based on their personal situaon. That pushed him to make people aware about the value of money. He started to work since 2012 and in the meanme, he got global award in STORY TELLING Teaching Methodology COMICS PIGGY BANK MONEY COMPETITION SCHOOL Rs. Rs. House of Lords, The UK parliament, Naonal Youth Talent Award, recognion from Central Bank of Nepal, Accountapreneuer grant from Accountability Lab, selected for United States Youth Council and he wrote one comics book of financial literacy. FINLIT Nepal, during the short me, already partnered with naonal and internaonal banks and financial instuons. Prakash, director of FINLIT Nepal, got an opportunity to study at Harvard Kennedy School, Coady Instute and Frankfort University organizing a savings campaign. The staffs are coordinang with local people/villagers in a meeng where officials from various banks come to present their saving schemes and help the parcipants open bank accounts on the ground. This campaign promote as "Saving Helps You: Bank comes to you". Staffs are also organizing local events together with the local parcipants. We have 43 branches of FINLIT Nepal's club all over the 43 district in different locaon, which helps to monitor and track the working paern and current status of benefited people.
Transcript of The model of community based financial education and entrepreneurship ... · The model of School...
The model of School BankThe model of community based financial education and entrepreneurship education has three core components:
1. Community centers, non-formal education
organizations, group center, school and college becoming agents of financial institutions and/or telecom operators to
facilitate the financial access for children and youth.
2.Mobile banking technology (or
other branchless banking technology) provided by
telecom operators, financial institutions, or developers.
3.Financial institutions that
provide savings account for children and people to facilitate
the saving through a digital banking platform and they help community people to expand their business by giving them small and medium enterprise
loan.
Financial literacy to capability
Discovery help your customers/employees/students to identify individual interests, needs, goals, and potential threats. "I've started saving for retirement, but do I have enough?”
Discovery
Education
The Teaching Method
Education Provide goal-based learning, intuitively relevant to individual objectives. “Wow. I didn’t realize
people in my income bracket, at my age, have saved that much more than I have. I want to learn how to improve
my financial health—now!”
Motivation Encourage your consumers to learn, develop capacities and work toward wellness using relevant incentives. “I’ve now identified a plan that can help me achieve my retirement goals and have a choice of incentives should I choose to pursue it.”
Motivation
Connection
Engagement
Engagement Create a sense of community by through comparative analytics and creating a dialogue with
individuals. “I can see how I am progressing versus my peers. I like that I can contact a mentor or coach at any
step along the way.”
Connection Be the hero! Satisfy you're newly highly motivated, educated and goal-oriented consumers’ needs by linking your products and services to individual objectives. “I can access products, programs, and other resources that fulfill the plan I’ve identified. That’s great! Now I turned what I have learned into action
FemaleMale
FemaleMale FemaleMale FemaleMale
Impact
Partnered Institutions 179 High Schools 17 College279 Community based local group
Female
Male
Total ReachedMale : 76,944Female : 98,102Total : 1,75,046
13-19 20-35 36-59 60-79
Age
23,76127,291 36,045
19,683
29,794 26,350 4,972 7,150
Measurable Outcome
Financial regulations that post substantial barriers for people below the age of 18 and over, to access formal financial regulators change banking access. Behind the policy level discussion, FINLIT Nepal is a proud knowledge partner to organize a policy discussion and advocacy work.
Most importantly, 83% family members, they have started to talk about money inform of children, that makes children and youth more accountable and responsible towards parent's money.
Frequently organized the workshop in order to make advancement in mobile technologies and the building of telecommunication and banking infrastructure.
We got a support from Ministries of Education and central bank of Nepal to achieve scale-up for of Community based financial education cum Community Bank by encouraging schools, high schools, university and community learning center to include financial education to their curriculum and participate in Community based financial education cum Community Bank through different initiatives namely, School Bank, Global Money Week, Money Talk etc.
Awareness towards the issue of financial inclusion of children and youth is enhanced at the national level. Change of mindsets is slowly taking place to ensure the real system change.
69% community people has already started their small enterprise and 21% youth participation are engaging with saving product of bank and financial institutions.
Current status of projectThe trained staffs are in the field across Nepal to conduct financial literacy and entrepreneurship education awareness programs for 17 schools, 20 community based organization, 15 local women group per district, across all the five development regions of Nepal. These districts have been
selected based on the absence of financial literacy school campaigns and low saving habit rate. The trainers are working in collaboration with Rural Municipality Office, Nepal Government. Also within the 28 districts in collaboration with the local banks, the volunteers are
Founder of FINLIT Nepal, Mr. Prakash Koirala's grandfather was priest and he had demonstrated his wonderful leadership in terms of taking financial decision and controlling all the money leakages at his time. In the same community Prakash saw the difference between people, quarrel between husband and wife and mismanagement of public property just because they did not understand the value of money. He realized that, poor people are
Story behind...becoming poor and poor every day just because they can't understand their personal finance. He started to know people's need and then he helped them to develop the skills and financial awareness to become discerning financial customer, who, themselves can make sound decisions based on their personal situation. That pushed him to make people aware about the value of money. He started to work since 2012 and in the meantime, he got global award in
STORY TELLING
Teaching Methodology
COMICS PIGGY BANK MONEYCOMPETITION
SCHOOL
Rs.Rs.
House of Lords, The UK parliament, National Youth Talent Award, recognition from Central Bank of Nepal, Accountapreneuer grant from Accountability Lab, selected for United States Youth Council and he wrote one comics book of financial literacy. FINLIT Nepal, during the short time, already partnered with national and international banks and financial institutions. Prakash, director of FINLIT Nepal, got an opportunity to study at Harvard Kennedy School, Coady Institute and Frankfort University
organizing a savings campaign. The staffs are coordinating with local people/villagers in a meeting where officials from various banks come to present their saving schemes and help the participants open bank accounts on the ground. This campaign promote as "Saving Helps You:
Bank comes to you". Staffs are also organizing local events together with the local participants. We have 43 branches of FINLIT Nepal's club all over the 43 district in different location, which helps to monitor and track the working pattern and current status of benefited people.
