The Central Bank of Armenia (CBA), with support from AFI, successfully hosted the “Financial Consumer Protection and Financial Literacy” international seminar in on 8-11 July 2014 Dilijan, Armenia.

The important event was held within the framework of Eurasian Economic Community (EurAsEC) countries.

Participants from 10 AFI member institutions across Europe and Central Asia convened for the workshop. CBA, National Bank of the Republic of Belarus (NBRB), National Bank of Tajikistan (NBT), National Bank of the Kyrgyz Republic (NBKR), Central Bank of Russia (CBR) and the National Bank of Republic of Macedonia (NBRM) each delivered presentations to share their national experiences.

The main topics covered during the seminar were consumer protection and financial literacy. The program included presentations on the theoretical aspects and the global perspectives of consumer protection and financial education, as well as presentations from participating countries on their experiences in implementing effective policies in these areas. A strong focus was put on existing methods and new approaches to measuring financial capability.

“Consumer protection and financial literacy are the fundamental pillars of the financial stability framework in each country. Their strength supports the construction of the financial stability network internationally,” said Kristina Nikolovska, Financial Education Project Manager and Assistant to the Governor at NBRM. “It was also very interesting to learn how the AFI members from other countries are approaching their policy work and to share the National Bank of the Republic of Macedonia’s experience in this field.”