Bulgarian Fintech Association efforts towards improving and increasing the financial literacy level in Bulgaria and the region were recognized and our Association has been promoted to Affiliate Member to the International Network on Financial Education(INFE), part of the Organisation for Economic Co-operation and Development (OECD).

The OECD/INFE has high-level membership from over 270 public institutions – including central banks, ministries of finance, and ministries of education – in over 125 countries. Four key policy areas related to financial education are currently being addressed by working groups:

  • Standard setting, implementation and evaluation
  • Financial education and the impact of digitalisation
  • Financial Education in the workplace
  • The impact of aging populations and the needs of older consumers

The OECD/INFE also continues to develop and promote outputs from previous working groups, including core competencies for financial literacy; financial education for micro, small and medium-sized enterprises; financial education for financial inclusion; national strategies for financial education; financial education for youth and in school and for women; financial education for long-term savings and investments; and financial literacy measurement.

What does this membership mean to BFA?

Undoubtedly, the membership at INFE is a great international recognition of our work. However, the most important is that this membership will provide us with countless opportunities to meet and share knowledge and experience on financial education with peers from all around the world. In specific, we are granted access to all affiliate member OECD financial education global events, the possibility to be part of the activities of a Working Group of the OECD/INFE and therefore we are consulted systematically and in priority when a financial education document is issued by the OECD or the OECD/INFE for public consultation. Last, but not least, the membership at OECD/INFE gives us the chance to reach an international tribune where we can showcase our work and successful educational initiatives.

What are the next steps?

BFA remains committed to its educational objectives and will continue to work on educational initiatives both in Bulgaria and the region.  In 2021 we dedicate even more resources and aim to create Fintech teaching courses which we will spread around the country. This year we are focused on several universities among which the Sofia University, University of Economics – Varna and University of Plovdiv Paisii Hilendarski, as well as the Mathematical high school of Ruse “Baba Tonka”. In 2021, BFA’s Fintech educational initiatives are aimed to reach more than 300 people.

Stay tuned and find out first about our latest initiatives.