On March 12, 2018, the Trinidad and Tobago Securities and Exchange Commission (TTSEC) signed a Memorandum of Understanding (MOU) formalizing its membership and commitment to the National Financial Education Committee (Committee). The MOU was signed between the Office of the Financial Services Ombudsman/ National Financial Literacy Programme (OFSO/NFLP), and the stakeholders of the National Financial Education Committee (Committee), of which the TTSEC is a member. This Committee is established to develop a national strategy for financial education across Trinidad and Tobago.
The signing took place at the Central Bank of Trinidad and Tobago (CBTT). The proceedings commenced with a welcome and endorsement of this initiative from: Dr. Alvin Hilaire, Governor, CBTT; Dr. the Honourable Lovell Francis, Minister in the Ministry of Education; Mrs. Denise Toby-Quashie, Administrator in the Division of Finanace and the Economy, Tobago House of Assembly and Mr. Dominic Stoddard, Financial Services Ombudsman. Representatives from the various stakeholder organisations were also there to witness this momentous occasion.
The Committee’s first national initiative formed part of an international financial literacy event, Global Money Week (GMW). This year Trinidad and Tobago (T&T) joined 147 countries in celebration of GMW, making it the world’s largest financial literacy campaign.
GMW Activities in T&T
Members of the Committee participated in three interviews on morning television programmes to sensitise the public about the formation of this specialized Committee, and the activities undertaken by this Committee to commemorate GMW in T&T. In an effort to raise awareness of GMW and initiate a movement around the importance of financial education awareness, the Committee launched a GMW Facebook Page – Global Money Week T&T. This Page provides a centralized space to sustainably promote GMW activities and messages throughout the year.
Launch of GMW in Tobago
On March 13, 2018, a short opening ceremony was held at the Victor E. Bruce Complex, Tobago, under the auspices of the Secretary of Finance and the Economy. This was followed by an exposition hosted by the Financial Literacy Secretariat of the Tobago House of Assembly, in Tobago, where approximately 250 students engaged with and learned more about, the many financial institutions in T&T.
TTSEC Welcomes Tobago Students and Teachers
As part of GMW awareness and sensitization among youth in T&T, Tobago conducted a financial business tour for several students and teachers in Trinidad on March 14, 2018. The TTSEC was included in this financial business tour and the TTSEC’s CEO, Mr. Hadyn Gittens was on-hand to welcome the Tobago contingent. The TTSEC’s investor education team conducted an interactive investor education outreach session with the participants and imparted knowledge about budgeting, saving, and investing in the securities industry.
GMW Celebrations in Trinidad
Several stakeholder members of the National Financial Education Strategy Committee also participated in an outdoor exhibition held at the CBTT on March 16, 2018. This event catered for over 300 teachers and students across economically challenged communities T&T. Students engaged with the various financial institutions to learn more about the key messages during this GMW – Importance of saving, budgeting, investing, and raising financial education awareness across T&T.
Global Money Week (GMW) is an annual financial literacy campaign designed to inspire children and young people to learn about money matters and entrepreneurship. It is an initiative of the Child and Youth Finance International to empower children and youth with the skills necessary to help them manage their money wisely and understand the importance of saving. The theme for this year’s GMW is ‘Money Matters Matter’ and was held from March 12-17, 2018.
National Financial Education Committee
Committee Membership include: