The Cyprus Financial Literacy and Education Committee (CyFLEC) has announced the launch of moneypedia.cy, Cyprus’ new national digital financial literacy portal, describing it as a flagship initiative of the National Strategy for Financial Literacy and Financial Education.
According to CyFLEC, the platform is the first integrated digital portal in Cyprus dedicated to providing reliable, evidence-based and easily accessible financial information to help citizens make informed decisions throughout different stages of their lives.
The committee said financial decisions, including budgeting, saving, borrowing, investing, insurance and retirement planning, affect everyone and that the portal was designed to serve as a trusted guide for people of all ages and levels of financial knowledge, including students, young people, families, employees, entrepreneurs and pensioners.
Through a user-friendly digital environment, moneypedia.cy offers explanations of key financial concepts, practical guidance on personal finance topics, financial calculators and decision-support tools, educational videos, interactive quizzes and content tailored to different age groups and life stages. The platform also includes practical guides and educational resources.
CyFLEC said the name “moneypedia” was selected through a participatory evaluation process involving students, university students, educators, academics and committee members. Participants considered the name concise, engaging and reflective of the portal’s role as a trusted source of financial knowledge and education.
The development of the platform was funded by the European Commission’s Directorate-General for Structural Reform Support (DG REFORM) in cooperation with the Organisation for Economic Co-operation and Development (OECD). The funding was secured by the Central Bank of Cyprus through the Ministry of Finance and supported the implementation of three initiatives under the National Strategy for Financial Literacy and Financial Education.
The project was coordinated by CyFLEC’s Coordination and Management Team, while members of the committee’s board and academic partners also contributed to the content of the portal.
CyFLEC noted that moneypedia.cy is intended to be a dynamic platform that will continue to be updated with new tools, educational material, announcements and practical guides, with the aim of becoming the main point of reference for financial literacy in Cyprus.
In a statement, CyFLEC Chair and Governor of the Central Bank of Cyprus Christodoulos Patsalides (pictured above) said the launch of the portal represented “an important step towards strengthening financial education in our country and a meaningful investment in the future of our citizens.”
“Our aim is to provide people with the knowledge and tools they need to make informed financial decisions and to foster a society in which individuals manage their finances with confidence and responsibility,” he added.
(Source: CNA)
