The Central Bank of Iceland and the Banque de France have signed a cooperation agreement on the promotion of financial literacy using content from the “EDUCFI”, the French National Financial Literacy Strategy, operated by Banque de France. The agreement is an element in both central banks’ endeavours to enhance public knowledge and understanding of matters relating to finance and economics. Banque de France has been a leader in the publication of financial education materials, under the aegis of its National Strategy for financial literacy, EDUCFI, launched in 2016, which aims at providing accessible, reliable, neutral and free of charge material designed to help people understand financial matters. Under the cooperation agreement, the Banque de France will provide the Central Bank with material relating to financial literacy, which will be adapted to Icelandic conditions and to different target groups’ needs.
The Central Bank of Iceland’s website contains information for students, as well as materials that teachers can use for instruction. The materials and information can be found on the following pages: Knowledge bank and Consumers. Each year, the Bank welcomes groups of students from all levels of education.
The cooperation agreement strengthens the Central Bank’s provision of impartial and accessible information on financial matters to a general audience. A main objective is to support instruction in financial literacy and to enhance the public’s knowledge and ability to take informed decisions about their personal finances. Improved financial literacy not only enables greater individual financial wellbeing, but it also supports the transmission of monetary policy, enhances public awareness of inflation, and fosters understanding of the Central Bank’s policies.
This cooperation with Banque de France creates a forum for regular exchange of views on financial education methods, development of educational materials, and ways to foster greater financial and economic literacy among the general public.