Parede Informasaun
Signing of MoU between BCTL and the ME da RDTL
Signing of MoU between BCTL and the ME da RDTL
08 | 06 | 2016
08 | 06 | 2016
Dili, 8 June 2016
Banco Central de Timor-Leste (BCTL) today signed a Memorandum of Understanding (MoU) with the Ministério da Educação da República Democrática de Timor-Leste on conduction the financial literacy program through territory of Timor-Leste in elementary schools as extra curriculum program.
The objective of the MOU is to work together on a project to conduct a program in financial literacy for teachers in elementary schools. The scope also includes ongoing monitoring of the delivery of the financial literacy program as well as an evaluation process to assess the effectiveness of the financial literacy program.
The BCTL and Ministério da Educação da República Democrática de Timor-Leste have been working together to build the foundations for a pilot project for the financial literacy program in elementary schools. The BCTL has developed a draft module while the Ministério da Educação da República Democrática de Timor-Leste has nominated 12 teachers from 11 municipalities including Ainaro, Aileu, Baucau, Bobonaro, Ermera, Lautem, Liquiça, Manatuto, Manufahi, Dili and Viqueque, and conducted a training program from 7 to 11 March 2016.
The objective of directing the financial literacy program to students in elementary school is to develop financial literacy from an early age.
With the financial literacy program, the Children of Timor-Leste will thereby become more financially literate at elementary school, well before they start to live on their own and face real world challenges, and thereby ensure their long-term security and financial well being. Furthermore this initiative is based on the National Strategic Plan for Financial Literacy of Timor-Leste that lunched last year. The plan envisages that the financial literacy program can be part of the national school curriculum within the next 5 years.
Through signing the MOU, a pilot project for the financial literacy program to students in elementary schools can be started immediately and continue for a period of 2 years as an extracurricular program with the possibility of being extended. For the first year of the program, the teachers who have received training will run the program in their respective schools. In the second year the programme would be extended to other schools.
There are two key areas where the BCTL and Ministry of Education need to cooperate. First, the intellectual resources in the form of the training program which has been developed may need to be modified depending on the ongoing monitoring and evaluation of the program. Second, human resources are required to deliver and evaluate the program. These people need to be trained in the first stage so that they can train others.
The program depends on both the intellectual and human resources working together to increase financial literacy amongst the younger generation of Timorese citizens. Therefore the BCTL and Ministério da Educação da República Democrática de Timor-Leste are jointly collaborating under the MOU to develop, deliver, monitor, and evaluate the financial literacy program throughout the territory of Timor-Leste.
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