OPEN LETTER/ Come to the dialogue and listen to me speak, otherwise I will cut off your scholarships, you will rot in prison. Please!

 Kliko këtu për të tjera
Voxpress:

Sejko: Beware of investments in uncontrolled products

2024-03-18 12:27:35Biznes SHKRUAR NGA REDAKSIA VOX

Sejko: Beware of investments in uncontrolled products

The Bank of Albania and the Albanian Association of Banks, in cooperation with the Ministry of Education and Sports, launched the Money Week activities today.

The theme of this year's Money Week will be "Protect your money, secure your future!", with the aim of raising public awareness of the risks associated with online fraud, as well as other risks arising from information and uncertain advice.

During the opening ceremony held at the Bank of Albania, the Governor, Gent Sejko, said that the digital age confronts young people with advice, advertisements and investment information that comes from social networks or friends, but it is essential to understand that participation in the financial market, even seemingly simple transactions have wider economic implications. "We must understand that new investment methods and innovative payment instruments increase efficiency and reduce financial costs for users. They certainly open many doors to the future, but they also carry risks if users are not financially educated and the markets are not regulated and supervised. Cases of sporadic successes in investments in uncontrolled products, not only do not constitute guarantees of future or lasting successes. I emphasize that they can turn into risks when operating in unregulated and unsupervised markets," said Sejko.

According to him, the events of recent years, such as the Pandemic, war and climate change, underlined the importance of making financial decisions based on the right knowledge and safe instruments.

"This turned out to be important not only for personal financial health, but also for the stability of the financial system. Rapid digitization and the urgent challenges posed by climate change are transforming the way instruments are conceived and how we engage in financial relationships. Young people have the opportunity to use their resources as a force for positive change in society and the environment. For this purpose as well, the Bank of Albania has undertaken and is implementing two important strategies for the climate and education and financial inclusion.

During the last decade, first at the international level, but also in our country, there has been a significant increase in academic research on education and financial inclusion. The results of this research are also used as a basis for the development of institutional policies that respond to the requirements of the time. Today, we also have a wealth of information that allows us to better understand the factors that influence levels of financial literacy among young people and across society, including economic circumstances, education, employment, internet access and parental influence,” he said.

The Bank of Albania notes a significant increase in financial inclusion, where the number of transactions through electronic payments has resulted in about 48 million, both from banks and non-banks, reflecting a 26% increase in their number, compared to 2022. Also, the number of remotely accessible accounts has increased by 24% in 2023, accounting for 34% of all customer bank accounts.

"However, innovations are also associated with new risks, such as online fraud or what is known in financial language as phishing - a way of identity theft that is carried out through the voluntary but uninformed provision of personal data, such as sh. bank account numbers and passwords, which can then be used by criminals for theft purposes. Precisely to address these issues, but also on many others related to culture, the Bank of Albania has adopted and is implementing a strategy for financial education and inclusion, which of course includes children and young people. Cooperating with partners such as the Ministry of Education and Sports, the Albanian Association of Banks, the World Bank, etc. we intend to develop joint activities and programs throughout the country to increase financial culture. The strategy serves as an instrument for educational, banking, financial institutions, businesses, NGOs, etc. to jointly develop policies, programs and educational materials, with the main goal of improving financial culture throughout the country.

The financial landscape is rapidly evolving, technological advancements are changing the way children learn in every field. As we navigate a changing world, it is vital that young people gain the skills, knowledge and confidence to manage their financial future responsibly,” the Governor said.


Në përputhje me standarded JTI

Video

SHIKO KANALIN NE YOUTUBE
×