National Phase of European Money Quiz held in Azerbaijan

02-04-2019

02 April 2019, Baku:  The Central Bank of the Republic of Azerbaijan holds various events regarding implementation of the ‘Strategic Roadmap on increasing financial services in the Republic of Azerbaijan’ approved by Decree of the country leadership of 6 December 2016, and the ‘State Program on expansion of digital payments in the Republic of Azerbaijan for 2018-2020’ approved by Decree of the President of 26 September 2018. One of these events was the national phase of the European Money Quiz jointly organized by the Savings Banks Foundation for International Cooperation and the Ministry of Education initiated by the CBA and the Azerbaijan Banks Association as part of the Global Money Week.

The European Money Quiz, organized by the European Banking Federation that joins 32 banking associations among member countries, is held to support raising financial literacy among pupils. Hence, pupils aged 13-15, involved to the quiz are asked questions mainly about economic topics, like banking – financial services, issue and circulation of currency, digital payments and taxes. Under the rules, national phases of the quiz are held in participating countries, while the final phase in Brussels, Belgium.

Taking into account the significance of the contest and that about 30 countries will participate there, Azerbaijani pupils joined the quiz for the first time this year. The national phase consisted of 2 rounds. During the first round the organizers evaluated knowledge of over 500 pupils applied for the quiz at the initial testing, 106 pupils with the best scores were allowed to the second round. Selection of pupils at this round covered economic topics in line with the quiz format. To note, selections of both rounds were maintained among pupils of schools subordinated to the Ministry of Education, the Education Office of the Baku city and private educational institutions.

The quiz was completed with awarding the winners of I, II and III places, and various gifts and certificates to other participants. According to the rules of the quiz, winners of the first place – Farid Rajabov (school # 257) and Parviz Farzaliyev (school # 220) will represent our country the final phase of the European Money Quiz to be held in Brussels on 6 – 7 May.

The CBA will further hold key target groups oriented events expanding current awareness and promo initiatives in connection with the implementation of the Strategic Roadmaps and the State Program.