Muzhaqi: Innovative projects in financial education to empower young people
Students from the "Dhaskal Todri" school and the "Tirana Technical and Economic School" held the closing activity of the "Fibsat" project. Thanks to this initiative, around 60 young people became managers of their finances, even by investing online.
Through the application, young people had the opportunity to save, invest in their digital portfolio, and learn from interactive videos and quizzes, as well as be rewarded for good grades.
Nearly 90% of the time, students chose to invest in savings accounts over the app’s investment options, such as Apple shares and Bitcoin. Although the young people were able to withdraw their winnings halfway through the program, they chose to continue. A clear indication of the value this experience had for their personal development.
The Ministry of Youth and Children, Bora Muzhaqi, participated in the closing ceremony of this project, which is essentially another initiative that aims to empower young people and equip them with skills that will serve them throughout their lives. Innovative projects that focus on the financial education of young people are of specific importance to the Albanian government .
"In an Albania that is moving rapidly towards the digitalization of public services, it is essential that children and young people learn to use new financial systems, which will reduce the use of cash and encourage the use of applications for transactions ," said Muzhaqi.
This initiative demonstrated that innovations through digitalization in financial education bring concrete results when combined with experience, decision-making and real rewards. The successful model piloted by Fibank, which connects students’ academic achievements with an interactive banking platform, offers an innovative and practical approach to financial education in Albania. This model creates the basis for an integrated system where students not only learn theoretically, but also practice money management through convertible virtual currencies.
Financial education is essential to helping young people build a sustainable relationship with finances from an early age. By learning about savings, money management, and spending, they become more responsible and aware of the financial decisions that affect their future. This helps them avoid economic hardship and develop sustainable financial strategies.
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