That is why I consider this conference as highly important. The Bank of Albania has devoted constant attention to financial education. Our education agenda is integral and comprehensive both in terms of geography and age groups, full of interactive elements and modern communication methodology. Furthermore, I would like to refer to some of the elements that constitute the philosophical grounds of our educational work. BIS central bankers’ speeches  1  First, I would like to recall that financial welfare is inextricably related with the country’s economic progress. It has been already proven that individual’s welfare is proportionate to economic activity and prices of financial assets. The cause-effect relation is true on both directions. Our economy and financial institutions are strong when revenues and wealth grow. Financially healthy individuals are inclined to increase their consumption and, therefore, boost their spending, consequently pushing the economy forward. Moreover, financially successful people boost lending potential by channelling their savings into deposits. Therefore, they are in a position to have access in crediting by the banking system, giving life to new businesses which, in turn, provide higher employment and welfare. To most of the people, having a job and a salary or estate is essential to personal financial welfare. However, the fact that you may have a job, or a salary does not imply that you automatically have the capacity to make wise decisions on effective money utilisation. This is the point where our relation with financial education is subjected to the test of the truth. Is this test passed?
4  BIS central bankers’ speeches