Speaking at the Turkish Financial Literacy Day program held at the Dolmabahçe Labor Office with the participation of President Recep Tayyip Erdoğan, Finance and Finance Minister Mehmet Şimşek said that financial literacy is related to the ability of individuals to correctly manage their income, savings, loans and investments and is about understanding and managing risks.
Expressing that financial decisions are one of the main factors affecting the well-being of individuals, families, companies and societies, Şimşek emphasized that financial literacy is one of the basic skills that need to be acquired, along with traditional literacy.
Şimşek said: “In fact, today, in addition to traditional literacy and financial literacy, digital literacy and artificial intelligence literacy are also crucial. In some countries, all citizens have begun to undergo training in artificial intelligence literacy.” he said.
“We reached more than 45 million visitors to the Financial Literacy Platform”
Minister Şimşek stated that the financial system is now faster, more complex and more digital than ever before and that citizens now have to make decisions in an extremely complex financial ecosystem. That's why exactly two years ago today they launched the Financial Literacy Platform within the Capital Markets Board (CMB) to improve financial literacy.
Şimşek said: “To date, we have reached more than 1 million active users and more than 45 million visitors on this platform. We do not limit our work only to education on digital platforms. We try to reach different segments of society with special educational programs on different platforms.” he said.
Recalling that National Education Minister Yusuf Tekin was also present in the hall, Şimşek said: “I would like to thank them especially. Because on March 24, the first hour of financial literacy classes began in primary, secondary and secondary schools across Turkey. In other words, approximately 18 million of our students received financial literacy training at the same time with content prepared specifically for their age groups.” he said.
“The earlier the age of financial awareness begins, the stronger the savings culture will become.”
Minister of Finance and Finance Şimşek stated that this step was important for them and wanted it to be continued, giving the following assessments:
“The earlier the financial awareness, the stronger the savings culture and the greater the risk resistance. Our goal is to create a society that consists of individuals with high financial awareness, a strong savings orientation and a strong investment culture. This is about creating individuals and a society who are aware and resistant to manipulation, who prioritize long-term rather than short-term investments, who can correctly distinguish risk from opportunity, who trade with knowledge instead of tips on social media or other platforms and who can carry out fundamental analysis.”
Stating that strong economies are built not only through production but also through conscious savings, a healthy investment culture and deep capital markets, Şimşek said: “In societies with high financial awareness, resources are shifted to more productive and efficient areas and macroeconomic stability is further strengthened within this framework.” he said.
Minister Şimşek thanked President Erdoğan for his participation in the program and his support for financial literacy.
“Financial literacy actively contributes to ensuring long-term financial stability.”
Mahmut Sütcü, Chairman of the Capital Markets Board (CMB), also pointed out the importance of financial literacy and said: “Financial literacy plays an active role in expanding financial inclusion, deepening our capital markets, facilitating our real sector's access to capital and increasing our country's savings rates by ensuring lasting financial stability.” he said.
Stressing that the declaration of May 22 as “Financial Literacy Day” with the circular signed by President Erdoğan a year ago is the strongest indicator of the strategic importance of this area, Sütcü said: “(Address to President Erdoğan) We are grateful to you for your valuable leadership and strong support. We are guided by the great goals you have set in the vision of the Turkish Century, in the financial markets as in any other area.” he said.
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