“World Savings Day 2012” Will be Celebrated First Time in Georgia

This year Georgian banks will celebrate World Savings Day for the first time ever. 

Events will start on October 31 with the opening press-conference at the National Bank of Georgia and end on Bankers Day on November 8. The event is organized by Georgian commercial banks together with Savings Banks Foundation for International Cooperation, the National Bank of Georgia, Association of Banks of Georgia and Georgian Banking Training Centre.

With reference to the celebration of World Saving day, Executive Director of the National Bank of Georgia Mr. Giorgi Melashvili and First Counsellor of the Embassy of the Federal Republic of Germany in Georgia Dr. Silke Klöver stated at the joint press conference in the premises of the National Bank of Georgia.  

“Georgian banking sector is one of the most stabile and developed spheres of the Georgian economy. Total volume of deposits is growing annually; the figure reached 8bln GEL in the current year. This data indicates high trust from population towards the banks. Although, the potential is much higher, therefore, the National Bank of Georgia is keen to participate in this project, we will always support and encourage financial education of the society” – stated Executive Director of the National Bank of Georgia, Giorgi Melashvili.

Having long history World Savings Day has been celebrated with different events in many countries since 1925. For nearly 90 years the German savings banks organise and conduct (along with other financial institutions in many countries all over the world) the World Savings Day. World Savings Day, or World Thrift Day as it was formerly called, was established by the World Savings Banks Institute (WSBI) in order to inform people all around the world about the idea of saving their money in a bank rather than keeping it under their mattress. Starting in 1925 it soon became an annual tradition in several countries going along with celebrations and campaigns to encourage savings.  

Carrying out a World Savings Day that is backed by several financial institutions, the National Bank, academies and associations will help to restore the overall trust into the financial industry.

The sector wide initiative will take place in the week from 31st of October – 8th of November. There will be a common frame (brochures, video clips and an overall mascot) in which every participating bank is free to organize various activities (in particular heading to children and their parents). 

Savings Bank Foundation for International Cooperation (SBFIC) is implementing the project Mobilisation of Savings and Financial Capability in Georgia and Azerbaijan, where World Savings Day is also celebrated first time this year. The project receives support by the German Federal Ministry for Economic Cooperation and Development.