Latest update: Keynote speaker, Nezha Saadani of Bank Al-Maghreb - Presentation file can be downloaded now

Morocco: Boosting Efforts at a Critical Time in Region’s Development

Rabat – 20 June 2013 

While Morocco’s economy enjoys sustained growth, helped by the government’s expansionist policy and a boom in the agricultural sector, the country continues to face major social challenges, including a high level of structural unemployment that is deepening inequalities. As in other countries in North Africa and the Middle East that are coming to terms with the impact of the Arab Spring, supporting employment by encouraging SME activities and ensuring that education is better matched to the skills being required by the labour market are key elements in efforts to create socio-economic stability at this critical time in the region’s development.

 

However much remains to be done to develop the individual financial capability and awareness that can boost entrepreneurship, protect women, unemployed youth and other vulnerable communities, and bring more people into the banking system. Financial education can play a major role in these endeavours. So far most policy efforts have been focused on protecting consumers and educating investors. What other steps should be taken to establish financial literacy as a life skill -- taught from a young age and expanded successfully across society to adult groups at different life cycles and income levels?

 

What is the best way to provide this form of education, taking into consideration different cultural and development factors? Which policies and channels are most productive? What types of partnerships are needed between the public sector, private financial institutions, academia and civil society to help programmes achieve their desired outcome? How can initiatives be evaluated to ensure they are producing positive behavioural change?

Visa and the Financial Times will gather policy-makers, educators, financial service providers and other experts and thought leaders for an exclusive lunch forum to discuss how to optimise the provision of financial education in Morocco and North Africa -- the foundations that should be in place, and the steps that should be taken to maximise reach and impact.

This invitation-only event -- chaired by a senior Financial Times journalist – will be the second in this year’s series of high-level Visa-FT Financial Literacy Forums. Building on the success of the 2012 inaugural programme, the first forum of the year is being held in Sao Paulo in May, with further events planned in August-September in Nigeria and Myanmar, leading up in December to the 10th Citi-FT Financial Education Summit, the most established annual international conference on financial capability, co-sponsored by Visa.