CySEC: Financial education to over 800 pupils across Cyprus

Over 800 pupils in schools across Cyprus participated in the Cyprus Securities and Exchange Commission’s (CySEC) programme of talks and lectures aimed at improving financial literacy among children.

According to a statement, the lecture series, which concluded yesterday, was delivered by CySEC Officers to 17 primary, secondary and high schools as part of the World Investor Week 2024 campaign. The lectures follow a successful first round of talks to students in March 2024, when CySEC officers visited nine primary, secondary and high schools.

As stated, education is increasingly recognised as a fundamental life skill, with a recent survey showing that only a third of school leavers (36.9%) in the 18-24 age group in Cyprus possess adequate financial literacy.

It added that the lectures focused on encouraging students to develop responsible money management skills, enhancing investor protection, and raising awareness of the risks associated with social media “finfluencers.” Students, teachers and school administrators expressed great satisfaction with the content of the lectures and praised CySEC for its initiative.

In announcing the completion of the 2024 programme, CySEC President, Dr George Theocharides, said he was particularly proud that CySEC continues to contribute to the financial education of the younger generation, noting that in Cyprus, the low level of financial literacy is a major issue, related to high levels of over-indebtedness.

CySEC also underlines that it prioritises investor protection as part of its mission, values and responsibilities, with educational materials and financial literacy guides to aid financial education to be found on a dedicated hub page on its website, the Financial Education Portal, while CySEC also actively supports the implementation of the National Strategy for Promoting Financial Literacy and Financial Education in Cyprus.

World Investor Week is a global campaign promoted by the International Organisation of Securities Commissions (IOSCO) to raise awareness about the importance of investor education and protection, while showcasing initiatives of securities regulators in these critical areas, the statement concludes.

(Photo: Elena Karkoti, Officer A at CySEC, delivering a lecture)