Georgia Celebrated the World Saving Day for the seventh time

Georgia Celebrated the World Saving Day for the seventh time

05 November, 2018

Georgia celebrated the seventh "World Savings Day." Activities dedicated to this special date commenced on October 25th in Rustavi and concluded with the main event on November 3rd.

The event was organized by the National Bank of Georgia and the Savings Banks Foundation for International Cooperation (SBFIC), with the involvement of 7 Georgian commercial banks: Basis Bank, TBC Bank, Credo Bank, Liberty Bank, Bank of Georgia, Tera Bank and Finca Bank Georgia.

As part of World Savings Day, a video featuring Grovia, the Georgian mascot for World Savings Day, circulated in the branches, ATMs, websites and social media accounts of commercial banks, and print financial education resources were distributed among the youth.

Moreover, a social media competition on the topic of saving was organized on the Facebook page of Grovia - "Play with the country's main Banker". Throughout the contest, the Governor of the National Bank of Georgia addressed children, aged between 9 and 13.  35 winners were declared from the competition, all of whom were hosted by the National Bank of Georgia, Savings Banks Foundation for International Cooperation and commercial banks in the International Scout Center Rustavi on November 3rd for cognitive and entertaining events.

The event included numerous contests, which revealed one group of winners. The organizers of the event awarded every participant with symbolic gifts and the group of winners received Child Deposit Accounts with the amount of 500 GEL to help the children and their parents to continue saving. 

"The National Bank of Georgia is participating in the celebration of World Savings Day for the seventh time. The aim of this important initiative is to increase the knowledge of the benefits of savings and to educate how to wisely manage personal finances. Saving is crucial for individuals of any age, since it gives us the opportunity to fulfill our aims and to handle unpredictable, temporary problems. Hence, it is important, to implement the culture of saving in the society from early ages and to make it familiar for children. World Savings Day serves this purpose", - stated the Head of the Consumer Protection and Financial Education Department, Lasha Gzirishvili.

The World Savings Day has an immense background. In 1924, during the 1st International Savings Bank Congress (World Society of Savings Banks) in Milan, Italy was decided to establish World Savings Day. Representatives from 29 countries participated in congress and had the will to spread the idea throughout the world, and in 1989 United Nations announced October 31st as World Savings Day. For more than 90 years it has been celebrated in numerous countries with the support of Savings Banks Foundation for International Cooperation (SBFIC) and financial institutes. World Savings Day was called World Thrift Day and its aim was to inform people all around the world about the idea of saving their money in a bank rather than keeping it at home. From 1924, to encourage savings, celebration of the World Savings Day has become a tradition in various countries.

Savings Banks Foundation for International Cooperation (SBFIC) is implementing the project "Responsible Finance in Caucasus". The project is implemented with the support of German Federal Ministry for Economic Cooperation and Development.