In Nepal, financial literacy remains a key challenge, particularly among youth in rural and underserved communities. According to the Nepal Rastra Bank (NRB), a significant portion of the population lacks access to proper financial education, leading to poor savings habits and vulnerability to financial risks. Recognizing this gap, various government and private organizations are actively promoting financial literacy through “Global Money Week Nepal”.
About Global Money Week 2025
Global Money Week (GMW) is an annual global initiative dedicated to enhancing financial literacy among young people. In Nepal, GMW 2025 was observed from March 17 to 23 under the theme "Think before you follow, wise money tomorrow", emphasizing the importance of critical thinking in financial decision-making.
The Organisation for Economic Co-operation and Development (OECD) started this campaign back in 2012 with the support of 21 countries, making this a worldwide financial festival in today’s context. The ultimate goal of GMW is to ensure that all children and youth have access to high-quality financial education, learn about money matters, and make informed financial decisions for long-term financial well-being.
Key Activities of GMW 2025 in Nepal
Nepal Rastra Bank (NRB) played a pivotal role in orchestrating various events during GMW 2025. The campaign commenced with a National Launch Event featuring approximately 600 students from grades 7 to 9 in Kathmandu. NRB's Governor, Maha Prasad Adhikari, highlighted the significance of financial literacy and advised students to choose financial services that align with their needs.
Throughout the week, NRB collaborated with institutions like the Nepal Insurance Authority, the Securities Board of Nepal, and the Department of Cooperatives to conduct programs aimed at increasing financial awareness nationwide. These initiatives focused on educating youth about banking, finance, capital markets, insurance, and cooperatives.
Financial Institutions' Engagement
Various financial institutions actively participated in GMW 2025. Nepal Investment Mega Bank Limited organized financial literacy programs across all seven provinces, involving 83 branch offices. These sessions covered topics such as banking systems, savings, loans, digital banking, cybersecurity, and fraud prevention. Educational materials, including the picture book "The Magic of Digital Banking," were distributed to students.
Similarly, Global IME Bank supported GMW 2025 by hosting workshops and seminars aimed at empowering youth with essential financial knowledge. The bank's initiatives underscored the importance of teaching young individuals about savings, prudent spending, and wise investments to build a secure financial future.
Focus on Digital Financial Literacy
In line with the 2025 theme, GMW in Nepal emphasized the need for critical evaluation of financial advice, especially in the digital world. The rise of "finfluencers" and the increasing use of artificial intelligence have made it imperative for young people to discern reliable information from misleading content. Educational programs addressed these challenges, promoting sound money management skills and resilience against financial misinformation.
Nepal’s Role in Strengthening Financial Literacy
Nepal has been actively participating in GMW through programs led by NRB, banks, financial institutions, and educational institutions. Workshops, school programs, and digital campaigns have been organized to educate young people about saving, budgeting, investing, and responsible borrowing.
For 2025, Nepal can focus on the following areas:
- Integrating digital finance education through the use of mobile banking and fintech solutions.
- Special programs targeting school students, young entrepreneurs, and marginalized communities to equip them with financial knowledge and skills.
Conclusion
From all the above facts, we can conclude that financial literacy among Nepal’s youth is vital as the country progresses toward economic development. By encouraging informed financial choices, initiatives like Global Money Week can play a transformative role in shaping a financially secure future for Nepal’s young population. Through awareness and education, Nepalese youth can make wise financial decisions, ensuring stability and prosperity for themselves and the nation as a whole.