Social sector workers raise financial literacy

The Bank of Russia, in cooperation with the State University of Management and the All-Russian non-profit organisation Soyuz Dobrovoltsev Rossii (Russian Volunteers’ Union), is launching a project aimed at raising financial literacy among social sector employees. Social sector workers from the Eastern Administrative District were the first participants of the course in Moscow. Throughout May, approximately two thousand people will attend training sessions.

The short course takes into account the professional needs of social sector workers and covers the necessary financial issues. The course covers banking cards and loans, explains the difference between insurance products, and provides information about the main principles of family budget and the safe use of payment cards. A large part of the course is devoted to how to identify fraudsters. Trainees will be told about the tricks fraudsters use to cheat elderly people.

The course can be attended on campus free of charge. All trainees will receive certificates after they complete the course and pass a series of tests.

‘The Bank of Russia has been holding financial literacy courses for pensioners for several years, but not all elderly or disabled people can attend the lectures. Duly instructed social sector workers will help handle this issue and communicate the important information to people under their care,’ said Mikhail Mamuta, Head of the Service for Consumer Protection and Financial Inclusion of the Bank of Russia.

The course developers expect the project to expand beyond Moscow into Russian regions.