Implementation of Financial Literacy Framework in Nepal 

	Country:	Nepal
	Member institution:	Nepal Rastra Bank
	Timeline:	January 2021 – October 2022
	Thematic area:	Consumer Empowerment and Market Conduct

Context 

Restrictions related to the COVID-19 pandemic made the traditional modality of dissemination of the financial literacy framework (FLF) through conventional and physical channels challenging. 

Nepal Rasta Bank (NRB) needed to move to using digital platforms to distribute the FLF. A shift to digital would also allow NRB to empower consumers by conveying awareness on issues relating to consumer protection, including digital financial services issues. 

Project Activities 

• The NRB updated and amended the Financial Literacy Framework 

• The NRB developed a comprehensive Financial Literacy Guideline, a resource for financial institutions, providing them with guidance and strategies to enhance public financial literacy. 

• The NRB produced and aired adverts on national television, raising awareness and educating the public about crucial financial topics.  

• The NRB developed a monitoring and evaluation implementation template, along with an index. These tools provided real-time status updates, allowing for the continuous assessment of the initiatives’ progress. 

Outcome 

Through these achievements, the NRB demonstrated its dedication to adapting to the challenges posed by the pandemic and advancing financial literacy in Nepal. The updated FLF, Financial Literacy Guideline, TV adverts, and monitoring and evaluation tools collectively contributed to creating a more financially literate population, improving access to formal financial services, and fostering economic resilience in the face of adversity.