Global Symposium on Financial Literacy Policies in a Changing Landscape

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High-level discussions and insights from the Global Symposium in New Delhi on implementing effective financial literacy policies in today's evolving financial landscape. Key topics include challenges and opportunities of digital financial services, national strategies for financial education, stakeholder engagement, and evaluation of policy impact.

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HIGHLIGHTS OF DAY 1 High-level Global Symposium Implementing effective financial literacy policies in a changing financial landscape 8-9 Dec Nov 2017 New Delhi, India

IMPLEMENTING EFFECTIVE FINANCIAL LITERACY POLICIES IN A CHANGING FINANCIAL LANDSCAPE

IMPLEMENTING EFFECTIVE FINANCIAL LITERACY POLICIES IN A CHANGING FINANCIAL LANDSCAPE SETTING THE SCENE G20 / OECD Report on Ensuring financial education and consumer protection for all in the digital age - SESSION 1.1: challenges and opportunities of DFS / FE - Lack of consumers understanding of risks, new types of fraud, risk of exclusion for some parts of the population (elderly, rural ) - But also opportunity for FI and FE to reach new (and larger) target audience at lower cost While keeping in mind need for combination btw digital/human channels, to remain up to date and keep neutrality - KEYNOTE ADDRESS BY DIEGO LOMBARDO: G20 Argentina s priorities and future work of GPFI

IMPLEMENTING EFFECTIVE FINANCIAL LITERACY POLICIES IN A CHANGING FINANCIAL LANDSCAPE NATIONAL STRATEGIES FOR FINANCIAL EDUCATION OECD/INFE toolkit to measure financial literacy and financial inclusion OECD /INFE reports with results on financial literacy levels around the world and in G20 members PISA financial literacy assessment - SESSION 1.3: data as a key element to - Look beyond averages and rankings - Learn about knowledge but also attitudes and behaviours - Identify needs of the overall population and of specific groups - Identify problematic areas - Feed into the design/revision of NS - Raise attention of other authorities / parts of government

IMPLEMENTING EFFECTIVE FINANCIAL LITERACY POLICIES IN A CHANGING FINANCIAL LANDSCAPE NATIONAL STRATEGIES FOR FINANCIAL EDUCATION OECD/INFE High- level Principles on National Strategies for Financial Education Policy handbook on the implementation of national strategies OECD/INFE guidance on private and not- for-profit stakeholders in financial education - SESSION 1.2: the importance of a multi- stakeholder approach. Lessons from India and around the world on how to leverage all stakeholders (and the financial sector - while ensuring neutrality) - SESSION 1.4: lessons learnt on implementing and evaluating NS: - Measures/objectives: setting measurable objectives, tracking progress (qualitatively and quantitatively), identifying NS impact - Stakeholders involvement and coordination: building trust, ownership and partnership (and working with the ministry of education) - Barriers and unintended consequences - It s a long journey

IMPLEMENTING EFFECTIVE FINANCIAL LITERACY POLICIES IN A CHANGING FINANCIAL LANDSCAPE EFFECTIVE DELIVERY OECD/INFE Policy guidance on women s needs for FE OECD/INFE framework on investor education youth and other vulnerable groups OECD/INFE HLP and guides on evaluation Forthcoming evaluation database - KEYNOTE BY SANDIP GHOSE/NCFE and recurring theme: how to deliver FE to 1,3 billion people, in 22 languages, with half of the population under 25 - TARGETING SPECIFIC AUDIENCES (DIGITALLY) - Women: address by Usha Thorat. Not only targeted programmes but broader cultural issue. - Children/young people/schools: recurring theme - more on young people, workplace, elderly, investors: session 2.1 and 2.2 today - EVALUATION: - Cross-cutting theme (UK, Brazil, posters). Address by J-Pal today.

IMPLEMENTING EFFECTIVE FINANCIAL LITERACY POLICIES IN A CHANGING FINANCIAL LANDSCAPE AND BEYOND: FINANCIAL LITERACY AND FINANCIAL EDUCATION AS PART OF Financial consumer empowerment trilogy: FE/ financial inclusion and financial consumer protection Sustainable and inclusive economic growth Social justice (ILO) Financial stability (Ravalo)