Financial literacy programme
In South Africa, the banking industry is committed to extend its services to all citizens, including many who have never had a bank account and have a limited understanding of financial management.
To reach these communities, Visa commissioned a drama which builds on a tradition of story-telling to show that bank accounts and payment cards are for everybody. Specially-trained theatre groups have taken the show to community centres in the Guateng province, using two of the country’s 11 official languages to explain how to set up and use a bank account, what a debit card is and how to use one and the importance of staying within your budget. Explanatory leaflets reinforce these messages.
The approach is now being fine-tuned and should be rolled out across the country, in partnership with Visa member banks. A film will also be made and there are plans to take the concept into schools.
It is hoped that the concept will provide a template for financial education throughout sub-Saharan Africa.
In the Middle East, Visa and the Union of Kuwaiti Banks have created a programme to promote financial literacy and fend off the problems caused by high levels of debt that have been seen in some developed markets.
Preliminary research was carried out in Kuwait, Saudi Arabia and the UAE before the launch of www.ehsib.com — a web site covering basics such as budgeting, saving, bank account management, using cards wisely, on-line shopping and precautions against fraud.
Educational materials have also been developed for bank branches to distribute to their customers. Teacher-training materials branded with a financial wizard called SuperCal — Mahsoobak in Arabic — show students that it is fun and clever to be financially literate.
Other components of the campaign include a planned National Financial Literacy Day and regional roadshows in shopping malls.
Visa is now working with governments, central and retail banks across the Gulf Co-operation Council to develop their own national campaigns.
In Russia, the educational web site My Money Skills gives consumers — from students to top managers — easy-to-use formulae and advice on compiling a monthly budget and not becoming over-indebted. It is hosted on www.visa.com.ru and was launched by the Visa Russia Association, a co-operative group of the Visa banks in the county.
To reach these communities, Visa commissioned a drama which builds on a tradition of story-telling to show that bank accounts and payment cards are for everybody. Specially-trained theatre groups have taken the show to community centres in the Guateng province, using two of the country’s 11 official languages to explain how to set up and use a bank account, what a debit card is and how to use one and the importance of staying within your budget. Explanatory leaflets reinforce these messages.
The approach is now being fine-tuned and should be rolled out across the country, in partnership with Visa member banks. A film will also be made and there are plans to take the concept into schools.
It is hoped that the concept will provide a template for financial education throughout sub-Saharan Africa.
In the Middle East, Visa and the Union of Kuwaiti Banks have created a programme to promote financial literacy and fend off the problems caused by high levels of debt that have been seen in some developed markets.
Preliminary research was carried out in Kuwait, Saudi Arabia and the UAE before the launch of www.ehsib.com — a web site covering basics such as budgeting, saving, bank account management, using cards wisely, on-line shopping and precautions against fraud.
Educational materials have also been developed for bank branches to distribute to their customers. Teacher-training materials branded with a financial wizard called SuperCal — Mahsoobak in Arabic — show students that it is fun and clever to be financially literate.
Other components of the campaign include a planned National Financial Literacy Day and regional roadshows in shopping malls.
Visa is now working with governments, central and retail banks across the Gulf Co-operation Council to develop their own national campaigns.
In Russia, the educational web site My Money Skills gives consumers — from students to top managers — easy-to-use formulae and advice on compiling a monthly budget and not becoming over-indebted. It is hosted on www.visa.com.ru and was launched by the Visa Russia Association, a co-operative group of the Visa banks in the county.