THE Reserve Bank of Fiji (RBF) and the National Financial Inclusion Taskforce have announced the launch of the first National Financial Education (FinEd) Innovation Awards.
The awards aim to highlight and celebrate the achievements of teachers and primary schools in Fiji that have actively implemented the FinEd curricula and who have taken the initiative to develop projects that demonstrate real-life applications of good money practices.
FinEd in schools is globally recognized as a best practice model to inculcate responsible financial behavior in children from an early age, of increased importance in the modern money economy.
Supported by the Australian Government, FinEd is an initiative of the Pacific Financial Inclusion Programme in partnership with the Reserve Bank of Fiji and the Fiji Ministry of Education.
Fully implemented nationwide in April 2013, FinEd integrates learning around personal money management and investment. FinEd curricula were incorporated into compulsory subjects – English, Mathematics and Social science – across Years 1 to 12, with all learning being built around the topics of Save, Spend Wisely and Share.
Fiji is seen as a role model for FinEd in the region, recently recognized with a global award for the Asia & Pacific region during the 2016 Global Inclusion Awards. This Award was given by Child Youth & Finance International (CYFI) to Fiji to recognise its efforts in promoting financial literacy amongst youth and children.
“Thanks to the tireless efforts of Fiji’s school teachers, the expected outcome is to build a generation of young women and men leaving school with the requisite financial knowledge, skills and confidence to be able to make responsible financial decisions which are appropriate to their circumstances, whilst both making a living in the modern money economy and contributing to community and national growth,” said Abigail Chang, PFIP Financial Education Specialist.
Since the roll out of FinEd Fiji, there has been ongoing teacher training at the district and school level, with a number of exciting implementation experiences.
Schools can submit their entries under two categories: FinEd Champion School Award for Innovation and FinEd Champion Teacher Award for Innovation.
Winning primary schools will receive $2000 cash plus a trophy and winning primary school teachers will receive $1000 cash with a trophy.
Judging criteria includes whether the FinEd projects undertaken by students have had an impact on the lives of the students, their families or community in the areas of saving, spending or investing and whether the financial behaviour of the students has been affected.
Applications close on May 19.