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Background

The Financial Literacy Programme was launched on February 06, 2009 and is an initiative of the Bank of Guyana. The Bank recognizes that there is an overwhelming need for educating the broad populace in financial matters that daily impact their lives. The principal aim is to provide students, parents, youth organizations, homeowners, entrepreneurs, consumers and others with basic and essential financial knowledge to make informed financial decisions that could enhance their lives with greater economic security and subsequently translate into greater national wealth with higher economic growth and development.

This website has been designed and made available in an effort to educate the reader on finances, finance terminologies and the use of financial information to increase personal wealth and prepare for emergencies. The Research Department has the sole responsibility of ensuring that this website is updated with appropriate content for the general public so as to increase their financial knowledge.

Benefits of the Financial Literacy Programme

More specifically we believe that the financial literacy programme would help individuals:

  • Improve their financial well-being;
  • Provide them with fundamental numeracy skills – help them to calculate their interest earned on deposits, interest to be paid on loans, service charges, etc.;
  • Provide the guidance to making wise saving and borrowing decisions;
  • Provide the guidance for responsible use of money;
  • Help them to understand their rights as consumers;
  • Help them to be aware of and avoid schemes aimed at defrauding them of their savings;
  • Help them to make wise investment decisions;
  • Identify counterfeit notes and fraudulent transactions;
  • Help them understand the value and safety of using personal cheques and manager’s cheques to move large sums of money in settling transactions;
  • Understand how they contribute to the economic well-being of the economy;
  • Help them to understand the role of the commercial banks in the economic development of the country;
  • Help them to understand the supervisory and regulatory roles of the Bank of Guyana; among other benefits

 

There is a consensus that Financial Literacy, just like reading and writing, positively impacts the livelihood of every individual.  It also affects the economic and social well-being of every community and, ultimately, the financial system and the overall strength of the nation’s economy.

about us page

1What is Financial Literacy?
Financial literacy includes basic numeracy skills as well as the information and knowledge required to function as an active and empowered consumer of financial services. It provides the basis for saving and investing wisely and is the starting point for the responsible use of credit and money. Financial literacy is an essential tool for each of us, whether we are making choices as students, consumers, savers, workers, preparing for retirement or just simply responsible citizens.
This programme will benefit you by making you more aware of basic financial matters which can assist you in present and future decision making and money management. You will gain knowledge of the benefits of saving and investing in addition to obtaining advice on financial matters that even if are irrelevant to you now will be valuable to you in the future. All this and more can be achieved for FREE if you involve yourself in the activities to be hosted by the programme.
NO. The Bank of Guyana acts as the Central Bank of Guyana. Its primary purpose is to formulate and implement monetary policy so as to achieve and maintain price stability. The other major purpose is to foster a sound, progressive and effective financial system. In the discharge of its functions, the Bank strives to: Promote a sustained and non-inflationary growth of the economy. Maintain the integrity and value of the Guyana dollar. Secure the credibility of the financial system, including payments arrangements, through supervision and oversight
In addition to cash dispensing, ATMs may have many services/facilities such as: Account information Deposits Summary Statements
A current account is a great way to store your money and helps you keep track of your spending. Current accounts are also very convenient.

Important: The information on this website does not constitute legal, financial or other professional advice but provides information for general reference purposes only. Every effort is made to ensure that the information given herein is of sound quality but no legal responsibility is accepted for any errors, omissions or misleading statements in the information, caused by negligence or otherwise.