PRESS RELEASE
Presentation of the Free Choice Module “Personal Finances in Your Hands” for High Schools in the Republic of Albania

The Bank of Albania held today, on September 1st 2011, the presentation ceremony of the free choice module for the financial literacy of high school students, entitled 'Personal Finances in Your Hands'. The opening address was given by the Governor of the Bank of Albania, Mr. Ardian Fullani, and the Minister of Education and Science, Mr. Myqerem Tafaj. This ceremony was attended by representatives of the Bank of Albania, Ministry of Education and Science, Education Development Institute and Regional Education Directorates. 

In his address, Governor Fullani noted that: 'This book is indeed in the hands of high school students, but it first and foremost comes to our help. We cannot do our job well as a Central Bank unless we are surrounded by a well-educated environment, an environment that understands us and, above all, an environment that is keen on information'.

The Governor of the Bank of Albania noted further that: 'Education is competitiveness, and competitiveness is translated into economic growth. If a country's economy is to be compared to another, the level of education will be analyzed in the first place, which in turn provides a long-term perspective of the country's development'.

On his behalf, the Minister of Education and Science, Mr. Myqerem Tafaj, noted that: 'We dearly need to enhance financial literacy, and the Bank of Albania has, in the recent years, undertaken a number of projects to exclusively benefit the enhancement of financial literacy of the Albanian society. Today, 92% of pupils ending the 9th grade school are enrolled in high schools. I believe that if we work on enhancing the financial literacy of high school students, we have also made a significant step toward informing the Albanian society'.

The new educational module on financial literacy will be one of the free choice subjects of the high school education curriculum for the academic year 2011-2012. In accordance with the curriculum itinerary that each student has planned to make and with the personal interests, the students may choose to take this subject in one of the three high school years.

The contents of the module 'Personal Finances in Your Hands' was formulated by the Bank of Albania in 2010, in cooperation with the Education Development Institute (EDI) and teachers of Economics. The key objective of this project was to formulate a format equipped with information based on the Albanian reality, and in line with the educational goal that this module intends to achieve didactically for the target group.

The first section of this book allows students to absorb the fundamental economic concepts, to later move on to a more concrete and practical section that deals with the management of money. The way this book is designed allows students to learn how to use and manage money, and get to know their rights and obligations in our inevitable daily economic and financial activities.

This book will provide high school students insights on:

• Everyday life as a consumer;
• Future relations with banks and financial institutions;
• University career;
• Entrepreneur skills;
• Better management of income;
• Meeting long-term goals;
• Successful planning of finances.

High school students choosing the module 'Personal Finances in Your Hands' for 36 classes over the school year, will immerse in the world of Albanian finances, and come out of it equipped with the necessary know-how as meticulous consumers of our society.

The project for the inclusion of a free choice module on the financial literacy of high school students in the education curriculum was born as an initiative of the Bank of Albania, which has for several years now been engaged in creating and promoting the financial culture in the Albanian society. The endorsement of the Memorandum of Understanding, on December 13th 2007, between the Bank of Albania and the Ministry of Education and Science was a major step in this regard. It provided the opportunity to institutionalize the educational programme of the Bank of Albania designed for students in the fields of economics, finance and banking studies.

In order to be successful, this project has envisaged the training of trainers. Representatives of the Regional Education Directorates will be offered a two-day training workshop by Bank of Albania experts that will provide insights on how to teach this high school subject.

The Bank of Albania extends its gratitude to the Ministry of Education and Science, Education Development Institute and high school professors across the country for their support and contribution to enhancing financial literacy in Albania.