Both developed and developing countries are recognizing that changes in the financial system, including the increasing complexity and diversity of financial products, are creating an urgent need for financial literacy. This type of programme has been practiced in other parts of the world for example, the United Kingdom (UK), whose Financial Services Authority (FSA) has launched a nationwide campaign to improve the financial skills of the population.

In the United States, where personal bankruptcies have been increasing sharply, the Federal Government and the Federal Reserve (the nation’s central bank) have entered the field of financial education. Previously, it was largely left up to the private sector.

In Canada, Australia, New Zealand and throughout Asia, either the Central Banks or specially created government agencies are devoting considerable resources to financial education programs.

Many citizens in Trinidad and Tobago have limited knowledge about basic financial practices and money management. It is therefore our vision, similar to the international examples, to create individuals who have the capacity to plan ahead, keep track of their finances, respond appropriately to market signals, and are responsible with their use of money

The programme is aimed at making our citizens interested in the significance of personal financial planning, budgeting and money management in addition to increasing the awareness of the population about the financial products and services at their disposal.