Central Bank of Cyprus (CBC) on Monday launched a new programme aimed at enhancing financial literacy among adults, with a strong focus on developing a network of trained educators across the country.

The first two-day training session for trainers began at the CBC headquarters, forming part of a broader initiative to strengthen financial education through targeted seminars and workshops.

“This programme is being implemented with technical support from the European Commission’s DG REFORM, in cooperation with the Organisation for Economic Cooperation and Development (OECD), and under the coordination of the Central Bank itself,” the CBC said.

It explained that the initiative falls within the work of the Cyprus Financial Literacy and Education Committee (CyFLEC), and is expected to bolster the implementation of the national strategy for the promotion of financial literacy and financial education in Cyprus, with particular emphasis on training instructors for adult education.

The training is conducted by professor Panayiotis Andreou from the Cyprus University of Technology (Tepak).

Participants include academics from Cypriot universities, trainers from the CBC, the Finance Ministry, the Education Ministry, the Cyprus Securities and Exchange Commission (CySEC), as well as other professionals.

CBC governor Christodoulos Patsalides attended the opening session of the programme, underlining the personal importance he places on advancing financial literacy.

The current training programme will conclude next week with a second seminar scheduled for June 23 and 24.

The wider series of seminars for the general public will commence after the summer.

It should be mentioned that the CBC chairs CyFLEC, which is responsible for implementing the national strategy.

“For the central bank, the promotion of financial literacy and financial education is a strategic priority,” the CBC said.

Finally, it stressed that “this priority makes a substantial contribution to improving the financial well-being and resilience of citizens”.