Within the scope of this platform, the CBT became one of the fifteen members of the National Strategy on Financial Education subgroup, which was established in 2009. Similarly, the CBT applied to join the studies of the Financial Inclusion subgroup under this platform (established in February 2011) and also for membership in the Task Force on Financial Consumer Protection that was established at the OECD. The Central Bank of Turkey also contributes, via data collection and surveys, to international studies on financial access. Within this framework, the CBT supports studies carried out by the Consultative Group to Assist the Poor (CGAP) conducted in collaboration with the World Bank. Moreover, the CBT – along with other related public institutions – contributes to the efforts of the Global Partnership for Financial Inclusion (GPFI) initiated by the G-20 to enhance the exchange of information and cooperation regarding financial access. Having said these, I believe that the CBT study entitled “Access to Financial Services and Financial Education in Turkey and Around the World” will become an important reference regarding this issue. The booklet is now accessible on the CBT website as well as in the Conference CD and is will be in print soon. In the last part of my speech, I would like to mention some specific points regarding financial education within the framework of this Conference. In the first session, we will discuss the relationship between financial education and financial stability and contribution of financial education to the functioning of the financial system.
In order to get the expected benefit from financial education programs, individuals’ financial education needs that arise in different phases of their lives should be well identified. It is of great importance that financial education programs are devised in a way to meet these needs; and the effects of these education programs are assessed in order to reshape future needs accordingly. BIS central bankers’ speeches  1  Due to the relationship between financial stability and financial education I have just mentioned, the Central Bank of Turkey attaches special importance to the issue of financial education as other central banks do. As you all know, the CBT Law lays down the primary objective of the Central Bank of Turkey as maintaining price stability; whereas taking measures to ensure stability in the financial system are stated among the main duties. In this respect, the CBT considers financial education from the viewpoint of financial stability. With our biannual Financial Stability Report and other studies and announcements that we share with the public, we strive to raise awareness as regards the financial risks borne by households. Meanwhile, we have recently accelerated our efforts on the international platform regarding this issue. The CBT is a member of the International Network on Financial Education (INFE) established under the auspices of the Organization for Economic Cooperation and Development (OECD), one of the leading organizations for financial education.