The Minister for Finance, Jack Chambers TD has hosted a stakeholder event on the development of Ireland’s first National Financial Literacy Strategy in Páirc Ui Chaoimh, Cork.
Financial literacy and education is an important part of financial consumer protection. Financial literacy covers people’s awareness, behaviour, knowledge, attitudes and skills in relation to money and is an important skill that everyone should have throughout their lives.
The stakeholder event builds on previous stakeholder engagement informed by nationwide survey, and a Mapping Report published in April 2024. It is anticipated that the final National Financial Literacy Strategy will be published by the end of 2024.
The event brought together key stakeholders and participants included the Competition and Consumer Protection Commission, the Central Bank of Ireland, the OECD and the Financial Consumer Agency of Canada. Approximately 91 public and private sector organisations including the financial services industry, education, civil society and Government Departments and agencies were also represented. It provided stakeholders with the opportunity to share their views on the priorities and potential stakeholder contributions for the national financial literacy strategy.
Opening the Stakeholder Event, Minister Chambers said:
“Financial literacy really matters. Our aim here today is to work together to enhance financial knowledge which will help people to make better financial decisions, better understand the information that is provided to them, be more confident in transacting their financial affairs in an increasingly digital world.
It is therefore heartening to see such a wide range of stakeholders gathered together. It demonstrates the enthusiasm of stakeholders across a range of public and private sector organisations to develop financial education initiatives right across the country.”
Minister Chambers concluded by noting that he looked forward to working with all of the stakeholders over the coming months to develop Ireland’s first national financial literacy strategy.
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