Child & Youth Finance International (CYFI) aims to increase financial inclusion, financial literacy, and entrepreneurship among young people throughout the Middle East and North Africa.
Financial education has been thoroughly implemented in the national education curriculum across the region . CYFI is taking an important role this as well as in the setting up of national platforms in a consultancy role in some countries, such as Qatar. CYFI expects to be increasingly involved in financial education initiatives in the region in the future.
Financial inclusion is an increasingly hot topic in the Middle East and North Africa. In Egypt for example, the Egyptian banking Institute developed a financial inclusion initiative within the context of the “Shaping the Future” theme, which is coordinated in cooperation with CYFI. Other financial inclusion initiatives are being developed in countries such as Morocco, Saudi Arabia and Lebanon.
Global Money Week in the Middle East and North Africa has seen a stark increase of participating countries over the last few years. In most countries strong partnerships between the private and public sector have led to financial capability building workshops, bank branch visits and competitions.
CYFI is currently working on a SchoolBank pilot in Egypt with its partners there. Having conducted a regional workshop in Egypt on financial inclusion in general and SchoolBank in particular, CYFI noticed that national authorities in the region have started developing the platforms necessary for the eventual launches of SchoolBank pilots. CYFI is playing a vital role in these processes.