The National Bank of Georgia started developing educational videos for the purpose of promoting financial literacy in the country

The National Bank of Georgia started developing educational videos for the purpose of promoting financial literacy in the country

30 December, 2015

Financial education constitutes one of the priority areas for the National Bank of Georgia. Enhanced financial literacy levels are highly important, among others, from the consumer protection perspective as well; hence, the National Bank is actively working on developing a common financial literacy strategy.

Within the frames of the abovementioned strategy, the National Bank started developing Georgian versions of Khan Academy’s educational videos on various topics of economics and finance.

Khan Academy’s target audience includes viewers with all levels of proficiency in given subjects. The video-lessons on economics and finance will not only improve consumers’ general knowledge in these fields, but also help them make more informed financial decisions. Based on international practice, engaging and interactive videos constitute one of the most effective ways for spreading financial literacy.

At the moment, the National Bank has developed five educational video-lessons; however, it is planned to develop more videos during the upcoming months. Video-lectures vary in difficulty; the feedback received from the consumers on the first five videos will allow the National Bank to determine which approaches to adopt when developing the rest of the videos. The abovementioned five videos cover the following topics: Gross Domestic Product (GDP) and its components; compound interest; law of demand.

The process of developing the Georgian versions of Khan Academy video lessons entails translating the original, English-language texts; adapting the content, so that the latter is better tailored to the interests and needs of local consumers (and local market in general), and developing relevant visual features.

Media House Dekomi provided technical assistance to the National Bank in the development of this project. The videos can be accessed on the dedicated YouTube channel, created for this specific purpose, and on the National Bank’s Consumer Protection webpage as well.

Khan Academy is a non-profit educational organization which was established in the United States in 2006. Khan Academy aims at rendering high-quality education free and accessible for everyone globally. Khan Academy videos constitute easy-to-understand and engaging lessons on different topics. Currently, Khan Academy videos are translated to more than 60 languages and are highly popular in many countries. These video-lessons are actively used by teachers in schools as well.