Financial institutions participate in training

FIFTEEN registered financial education training institutions attended a workshop conducted by the Centre for Excellence in Financial Inclusion (CEFI) to review and standardise financial education training materials.
According to CEFI, the workshop was in partnership with the Microfinance Expansion Project (MEP).
CEFI and MEP developed six financial education training materials, budgeting, savings, debt management, bank services, financial negotiations and mobile money.
The workshop was an opportunity for CEFI and MEP to introduce to partners the current modules of financial literacy training materials and to see how the partners could integrate the modules into their training materials.
The workshop also focused on discussions on improving partnerships between the institutions and CEFI and to have a more collaborative approach in rolling out financial education in rural communities.
Bank of PNG’s assistant governor Ellison Pidik described financial education as key to spearheading financial inclusion in rural areas for people who had not being served.
“The role of trainers is very important; you give power to an individual to make the right decision concerning their finances to improve their standard of living,” he said.
Partners have agreed to consider using the CEFI modules and to customise it to suit their audience and this is a great step in developing and providing quality training to the people.
A Port Moresby-based financial education trainer and consultant Mavaro Ravian said these manuals would support her training services in Port Moresby’s North-East electorate.
“I have been developing my own materials which do not have a measurable outcome; the manuals will be of great help to my financial education training,” Ravia said.
The workshop is one of CEFI’s initiatives to improve and drive financial education in PNG and to ensure coordination and consistency of financial education content.