CBC launches “Training of Trainers” to boost adult financial literacy

The Central Bank of Cyprus (CBC) has launched a new programme aimed at enhancing financial literacy among adults, aiming to develop a network of trained educators across the country.

The first two-day training session of the “Training of Trainers” programme has begun at the CBC headquarters, forming part of a broader initiative to strengthen financial education through targeted seminars and workshops.

“This programme is being implemented with technical support from the European Commission’s DG REFORM, in cooperation with the Organisation for Economic Cooperation and Development (OECD), and under the coordination of the Central Bank itself,” the CBC said.

It explained that the initiative falls within the work of the Cyprus Financial Literacy and Education Committee (CyFLEC), and is expected to bolster the implementation of the national strategy for the promotion of financial literacy and financial education in Cyprus, with particular emphasis on training instructors for adult education.

The training is being delivered by Professor Panayiotis Andreou of the Cyprus University of Technology, with participants including academics from Cypriot universities, trainers from the CBC, the Ministry of Finance, the Ministry of Education, Sports and Youth, the Cyprus Securities and Exchange Commission, and other professionals.

The Governor of the Central Bank, Christodoulos Patsalides, attended the opening session, underscoring the importance he personally places on the goal of strengthening financial literacy.

Next steps and broader rollout

The Training of Trainers programme will conclude next week, with the second seminar taking place on 23–24 June. Public seminars aimed at the broader community will begin after the summer.

Training educators is considered a cornerstone action within the National Strategy, which has a central vision: "To empower the citizens of Cyprus through the knowledge and skills required for their financial well-being."

About the Committee and strategic importance

The Central Bank of Cyprus chairs the CyFLEC, which is responsible for implementing the National Strategy. In addition to the CBC, the Committee includes:

• The Ministry of Finance
• The Ministry of Education, Sports and Youth
• The Cyprus Securities and Exchange Commission
• The Commissioner of Insurance Supervision
• The Commissioner of Occupational Pension Funds

“Promoting financial literacy and education is a strategic priority for the Central Bank, as it plays a vital role in improving the financial well-being and resilience of citizens,” it said.