Oschadbank is an ambassador of the All-Ukrainian Financial Literacy Test initiated by the National Bank of Ukraine

Oschadbank became a partner of a socially important project - the All-Ukrainian Financial Literacy Test for Adults. The new project from the National Bank of Ukraine is timed to the 100th anniversary of World Savings Day and is aimed at self-diagnosing Ukrainians' own financial knowledge and motivating them to self-education in the field of financial literacy. In the future, this testing will become an annual event.

The test will run from October 31 to November 7 inclusive. All citizens over the age of 18 can take it free of charge online. To do this, go to the educational website on financial literacy “Garazd”.

According to the Financial Literacy, Financial Inclusion, and Financial Well-Being in Ukraine in 2021 survey conducted by the USAID Financial Sector Transformation Project in cooperation with the National Bank of Ukraine, a significant number of citizens overestimate their level of financial knowledge. Thus, 45% of Ukrainians believe that they have an average level of knowledge in financial matters, although their actual knowledge is often much lower. Particularly vulnerable are young people aged 18-19 and people over 60, whose financial literacy scores remain below the national average.

“We are launching the All-Ukrainian Financial Literacy Test and every year in October-November we will offer Ukrainians to take an express check-up of their financial health and receive free personalized recommendations and a selection of materials from NBU experts to improve their financial awareness,” said Andrii Pyshnyi, Governor of the National Bank of Ukraine.

“Oschadbank always supports the NBU's educational initiatives aimed at raising awareness among Ukrainians. Financial literacy is the possession of skills that help people make wise decisions about money and effectively manage their finances, invest and save money to achieve their goals. Not only a person's own well-being, but also the economic success of the country depends on financial literacy. So we invite everyone to take the test,” commented Serhii Naumov, Chairman of the Management Board of Oschadbank.

Participants will be able to take the test both in organized groups and on their own for eight days, assess their knowledge and receive recommendations for improvement. The estimated time to complete the test is about 20 minutes.

“The All-Ukrainian testing is not only a self-test of knowledge, it is also a simulator in which we have sewn 20 real-life situations that millions of financial services consumers face every day. Test participants will receive personalized recommendations and useful information for further training. This will help them prepare for similar financial situations in their lives,” commented Yuliia Yevtushenko, Director of the NBU Communications Department.   

In addition, 20 test participants will have the opportunity to win prizes from the NBU by sharing their results on social media.