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Financial Education
in Moroccan Schools
Stockholm, November, 2016
Why Financial Education?
A study made by Bank AL-Maghreb showed the following:o Moroccans have difficulties planning their personal finances in spite of their
efforts due their low levels of financial literacy ;
o The most alarming observation is that Moroccans face problems inmanaging their retirement because they are not informed on retirementsavings from an early age.
International studies* confirmed:o The importance of developing financial education «culture» and awareness
for individuals to help them acquire the necessary core life skills to managetheir daily finances;
o The effectiveness of introducing financial education from an early age .
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* World Bank, PISA
Improving the cognitive knowledge of students concerning financialeducation, through :
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Objectives and Mechanisms of Financial Education
Raising the awareness of students by organizing visits to some financial
institutions (financial week)
Integrating activities and educational content related to financial education in school
programs and pedagogical practices
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How to integrate Financial Education in Moroccan schools?
• Implementation of a partnership between TheMoroccan Foundation for Financial Education andThe Ministry of National Education and VocationalTraining;
• Development of annual action plans and creationof joint working teams.
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Achievements (1/2)
Integrating activities and educational content related to financial education in
school programs and pedagogical practices
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Achievements : Integrating Financial Education in School Programs
• Set up of educational scenarios and pedagogical documents necessary forfinancial education activities:
o The student’s manual
o The teacher’s guide
• Allocation of a time slot for financial education activities (55 minutes perweek)
• Development and implementation of a trainingprogram for all actors :
– Teachers
– Coaches
– Educational inspectors
• Adjustment of teachers’ training programs to includefinancial education contents.
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Achievements : Integrating Financial Education in School Programs
BeneficiariesExperimental Stage
(2015/2016)First Extension
(2016/2017)
Schools 100 766
Students 4 000 76 389
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Achievements : Integrating Financial Education in School Programs
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Achievements (2/2)
Financial week
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Achievements : Financial week
Visit to the network of institutions of Bank AL-Maghreb and the
commercial banks
Financial week
Organization of training sessions for high school students
by banking sector professionals
Visit of Casablanca Stock Exchange and
Insurance Companies
Visit of the museum of Bank AL-Maghreb
and the Currency Control Bureau
(Office des Changes)
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Achievements : Financial week
30,000
60,000
80,000
100,000
150,000
2012 2013 2014 2015 2016
This operation targets students from all regions of the kingdom (urban and rural areas) and all Levels (Primary, middle and high school )
NUMBER OF BENEFICIARIES
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Achievements : Financial week
Fiat money
Bank
Primary school
65%
85%
A study conducted in 2015 to measure the satisfaction and assess the impact
o A survey to assess the satisfaction of beneficiaries and measure their understanding of financial
concepts has been conducted by the Foundation :
• 70 % response rate
• The following key findings were evaluated for a representative sample of 10 000 beneficiaries,
including students of primary, middle and high school.
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Achievements : Financial week
98%
65%
95%
85%
Incomes
Budget
share on the stock market
Minimal age to open a bank account
Middle school
A study conducted in 2015 to measure the satisfaction and assess the impact
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Achievements : Financial week
45%
63%
95%
85%
Saving practices
Missions of financial institutions
Banking Products and services
Insurance Products
High school
A study conducted in 2015 to measure the satisfaction and assess the impact
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Finance days for children and the youth
2015 study’sgeneral conclusions
Satisfactory rate of financial concepts’ understanding demonstrating theachievement of information and awareness objectives.
The results also highlight deficiencies which should be addressed by developingframework with regular actions.
This punctual event should be supported by continuous efforts in financialeducation to promote responsible financial behaviors and attitudes among theyouth.
The Days for Financial Education must become a necessary event to improvethe achievements concerning strengthening financial experiences of children andthe youth.This improvement could be based on :
• The integration of financial education in curricula,• The development of scenarios that enables students to practice the
financial skills acquired at school.
A study conducted in 2015 to measure the satisfaction and assess the impact
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Thank you
Mr. BELQASMI, [email protected]
General Secretary of the Ministry of National Education and Vocational Training
Financial Education
in Moroccan Schools
Stockholm, November, 2016
