Within a rapidly evolving financial landscape, where access to financial services becomes easier, while consumers face new risks, financial literacy has become a key skill for individuals.

 For this, the Bank of Albania and the World Bank have presented the educational exhibition "Money Smart - Financial Education for all".

Altin Tanku, Director of the Research Department at the Bank of Albania, told Scan TV that financial education helps cultivate culture and inclusion through increasing financial knowledge, skills, and attitudes, aiming to increase the well-being and financial empowerment of consumers.

"Financial education is important even outside of digitalization, but especially in the time we are living in. With the latest demographic developments we have and with the great speed of digitalism and what we call the financialization of the economic life of the family, businesses, and the entire market, it takes on extraordinary importance," Tanku said.

Also, the Director of the Research Department at the Bank of Albania has spoken about the benefits of SEPA.

"SEPA is part of what we call the improvement of the economic and financial life of Albanian families, it significantly reduces the costs and time of transactions with the countries of the Eurozone where we have the vast majority of commercial and financial activity, but also of families of friends who live in those countries. It is an extraordinary success, with great benefit for the Albanian economy," added the director of the Research Department at C-Bank.

The exhibition at the Bank of Albania premises will be open until June 28. It contains consumer-focused information on financial matters.

The exhibition gathered children of different age groups, who learned, but also had fun in the art corners, where art teachers helped them create paintings or sculptures using shredded Bank of Albania banknotes, became part of the interactive quiz with prizes, took photos with an engaging hashtag related to financial literacy to encourage social media sharing and virtual engagement of the activity, etc.

Those present were greeted by BoA’s First Deputy Governor, Luljeta Minxhozi, and the chief specialist of the financial sector at the World Bank Group, Oya Ardic.

Deputy Governor Minxhozi said that the world of finance has always been a difficult area for the general public to understand, but the growth of products and services offered by the market has made it necessary to possess a minimum level of financial culture for decision-making informed and that benefits from the opportunities offered and that avoids risks. Aware of this, the Bank of Albania has been investing in creating a financial culture in Albanian society for years.

Meanwhile, Ardic praised financial literacy as a cornerstone of a thriving economy, empowering individuals to navigate the complexities of a rapidly evolving financial landscape and utilize financial services for long-term well-being.