Financial Education : a key Lever for economic efficiency

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				Education financière : Levier essentiel d’efficience économique

In the microcosm of the arab countries have made financial education to their creed, Morocco occupies a place of choice.

The regional seminar jointly organized by Bank Al-Maghrib and the arab monetary Fund has been an opportunity for the exchange of ideas and thoughts on the matter.

“Financial education in the arab world : strategy, implementation and impact”, is the theme of the regional seminar organized recently by Bank Al-Maghrib and the arab monetary Fund. This high-level meeting has focused on the importance of financial inclusion as an important factor of economic inclusion. Its impact on the maintenance of financial stability, on sustainable growth and on the reduction of social inequalities is no longer to demonstrate.

It was also an opportunity for sharing and exchange of experience between arab countries, against the backdrop of the financial inclusion at the service of economic development. “Financial education is a key lever of economic efficiency and social justice, especially in an economic and financial context of increasingly complex”, announced Abdellatif Jouahri, wali of BAM, at the opening of the work of the seminar.

Starting from this observation, some countries in the arab world, including the Middle East and North Africa (MENA), did not skimp on ways to integrate financial education as an important lever accompanying a few key sectors of the economy. According to the governor of BAM, Morocco occupies a prominent place on the regional arena. Has to its credit, the creation of the Foundation for moroccan financial education, the purpose of which is primarily to inculcate understanding of basic financial concepts to a population previously marginalized. Also, the Foundation has said it signed partnership agreements with the ministry of national Education and that of arts and Crafts (see maintenance). These promising practices have been corroborated by the accounts of Abdulrahman Al Hamidy, Director-general of the arab monetary Fund (AMF), which welcomed the efforts undertaken by Morocco in the field of financial education. In the aftermath, the minister of national Education Rachid Belmokhtar, recalled the importance of financial education within his department. “There is a national strategy implemented on the basis of a diagnosis of the education system”, he says. If, in 2012, the number of children aware of was 30,000, today, in 2016, it has reached 150.000.

The efforts made by some arab countries are highly commendable, it is still necessary to place the bar very high to align with the standards of international countries.

S. E.

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