The Role of Banks in Bulgaria in Increasing Financial Literacy
The Role of Banks in Bulgaria in Increasing Financial Literacy

Author(s): Irina Kazandzhieva-Yordanova
Subject(s): Politics / Political Sciences, Politics, Economy, National Economy, Economic policy, Developing nations, Financial Markets, Socio-Economic Research
Published by: Университет за национално и световно стопанство (УНСС)
Keywords: financial literacy; national strategy for financial literacy; financial sector; financial products and services; banks
Summary/Abstract: The paper investigates the implementation of a national strategy for increasing financial literacy in Bulgaria and the types of activities performed by the financial sector contributing to financial literacy. Some key elements of the financial literacy strategy are discussed in the paper as well as the role of the financial sector for the realization of the goals of the national strategy. The paper stresses on the role of the banking sector and the types of activities it performs for increasing the financial literacy. The paper argues that despite the number of activities performed by the financial sector the necessity of creating a national strategy is inevitable as it guarantees the involvement of the different social groups, coverage of large scope of topics and sustainability on a long-term basis.

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