Financial Education Initiative

ConferenceAccording to European Bank for Reconstruction and Development (EBRD), the financial literacy of 3 republics of South Caucasus, including Georgia, is lower than the 3 poorest countries of Latin America. The lack of understanding of financial products, which represent “credence goods”, still a low corporate culture among financial industry participants, a lack of Government oversight and practical absence of access to independent advice, results in negative experience for many customers, leading to financial loss, financial crisis and accompanying physical and mental suffering. Crystal Fund has completed the first phase of the project aimed at enhance the level of financial awareness and improve financial skills among the wide public in Georgia. The project focused on three areas of intervention:

  • issues related to public policy concerning consumer protection and financial literacy;
  • Strengthening the role and contribution of the financial industry in financial education of customers;
  • Produce educational materials and improve distribution channels targeting the wide public.

The issues addressed by the project included:

  • setting financial objectives
  • budgeting
  • savings
  • risk management
  • borrowing
  • investment
  • taxes
  • pensions
  • risks related with migration.

Please, download brochure “Financial Education for All” (in Georgian). Brochure (GE)

Address

5 Marjanishvili Street, Tbilisi 0102, Georgia
Phone: +995 322 970 128
Fax: +995 322 970 129
Web: www.crystalfund.ge
Email: [email protected]

Mission statement

Crystal Fund mission is to increase the financial literacy in Georgia, bolster standards in the provision of financial services, develop new technologies to enhance access to financial services and to implement social and community investment projects. Crystal Fund is actively promoting the rule of law, protection of property rights and advocates for the enabling business environment in Georgia. Crystal Fund has solid grant and project management experience combined with high standards in governance, rigorous organisational systems and procedures.