A.Žigman: financial knowledge and literacy key to consumer protection
The President of the Hanfa Board, Ante Žigman, gave one of the introductory lectures entitled “Knowledge as Protection: Financial Literacy at the Service of Consumers” at the third Regional Financial Literacy Conference "Financial IQ: Smart Finance as a Response to Contemporary Problems".
Speaking about the level of financial literacy in Croatia, Žigman emphasized the importance of continuous education and strengthening the financial awareness of citizens.
“The first financial literacy survey in Croatia was conducted in 2015 and its results showed clear guidelines for making the situation better. Since then, we have seen notable progress, but there is still room for improvement," he said.
The year 2015 also saw the development of the National Strategy for Consumer Financial Literacy 2015 - 2020 and the establishment of the Operational Working Group. Three financial literacy surveys have been conducted in Croatia so far, with notable progress, and with the second National Strategy for Financial Literacy for the 2021 - 2026 period currently being in force.
Žigman highlighted in particular the importance of cooperation among different institutions: “Financial literacy is not only a task for regulators and institutions such as Hanfa, the CNB and the Ministry of Finance. It is crucial for educational institutions, but also the media, with their significant role in raising public awareness, to be actively involved in the process.
Members of the Operational Working Group carry out numerous activities aimed at different target groups – from children and young people to the active population to pensioners. Educational programmes are adapted to the age and learning methods: interactive games are designed for elementary school students, and high school students acquire key knowledge of finances through quizzes and workshops.
Hanfa actively contributes to financial literacy through a series of educational activities. Every year, for instance, it organizes contests for elementary and high school students, encouraging them to creatively express themselves on financial topics by creating comics, songs or video content. The winners also receive a valuable prize – an interactive school board. As for students, Hanfa grants the Annual Award for the best scientific and expert papers in the field of finance, which has become a prestigious recognition among young experts. Top three authors not only receive the award, but also cash prizes, which further fosters academic excellence and research in the financial sector.
We are particularly proud of our latest project – the board game Desitudo, created in cooperation with students of a school from the island of Hvar. “This game allows students to learn, through fun, to differentiate between desires and needs, and to understand the basics of insurance, capital markets and pension systems. Hanfa is now distributing it to elementary schools throughout Croatia,” Žigman said in his lecture.
