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.
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
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.