The Cyprus Financial Literacy and Education Committee (CyFLEC) on Thursday announced that it is intensifying its efforts to promote financial literacy among young people and the broader society as part of Global Money Week.
The committee, which has been operating under the Central Bank of Cyprus (CBC) since June 2024, “aims to enhance the ability of citizens—particularly young people—to make informed, responsible, and rational financial decisions”.
“Recognising the importance of financial preparedness in an increasingly complex economic environment, CyFLEC is launching an extensive series of events and initiatives for the first time in Cyprus,” the announcement said.
The centrepiece of the initiative is the international conference titled “Financial Literacy for the Youth: Preparing the Next Generation,” which will take place on Thursday, March 13.
President Nikos Christodoulides will be the keynote speaker, something which the committee said “underscores the government’s commitment to strengthening financial education from an early age”.
Members of CyFLEC’s scientific advisory committee will also participate, offering valuable insights and sharing international best practices.
The conference will be streamed live on the Central Bank of Cyprus’ YouTube channel.
As part of the campaign, CyFLEC will also hold a series of specialised workshops aimed at different sectors of society.
A presentation and workshop for journalists will take place at the CBC premises on March 13, focusing on the findings of the latest OECD survey on financial literacy in Cyprus.
The session will also include discussions on responsible media coverage of financial education topics.
Additionally, a workshop for university lecturers and secondary school educators will be hosted by the Finance Ministry on the same day, providing a platform to exchange ideas on integrating financial education into academic curricula.
On March 14, CyFLEC will organise a dialogue session at the Cyprus Securities and Exchange Commission (CySEC) offices, along with its partners and representatives from local municipalities, to explore common challenges and opportunities in implementing a national financial education strategy.
At the same time, financial education workshops targeting students, young professionals, and youth organisations will be held in Nicosia and Limassol on the evening of March 14.
These sessions will feature contributions from CyFLEC’s scientific experts, “fostering meaningful discussions and the exchange of best practices in financial literacy”.
“CyFLEC considers the promotion of financial education a fundamental prerequisite for economic stability, social cohesion, and national prosperity, particularly in an era of rapid economic changes and emerging financial challenges,” the committee said.
“Through these initiatives, the committee aims to bring together young people, educators, parents, journalists, and policymakers in pursuit of a shared goal: building a financially knowledgeable and responsible society,” it added.
The coordination of these initiatives is overseen by CyFLEC’s coordination and management team, based at the Central Bank of Cyprus.
The committee itself was established to implement the national strategy for financial literacy and education and is “dedicated to raising awareness and improving financial knowledge and behaviour across all segments of society”.
CyFLEC operates under the guidance of its board of directors. The board includes the governor of the CBC as its president, the Finance Minister, the Education Minister, the chairman of the Cyprus Securities and Exchange Commission, the Deputy Insurance Commissioner, and the Registrar of Occupational Retirement Benefit Funds.
