Minister Şimşek warned investors and gave the signal: We are starting the financial literacy era

Minister Şimşek warned investors and gave the signal: We are starting the financial literacy era

Minister Şimşek evaluated the importance of financial literacy for investors.

Pointing out that issues such as rapid change and transformation in financial technology, new financial instruments, and the Ponzi system increase the importance of financial information, Şimşek said that many countries in the world are carrying out activities to raise social financial literacy awareness.

Şimşek pointed out that increasing domestic savings rates and directly transferring savings to real sector companies through financial markets is an important element in terms of the development strategy of countries, and said, “By disseminating financial education and financial literacy across the country, individual investors can actively participate in financial markets by making healthy investment decisions.” “On the other hand, savings can be transferred to financial markets as a stable investment source through individuals with high awareness. Improving the level of financial literacy reduces the vulnerability to financial fraud and paves the way for making the right investment decisions.” he said.

Emphasizing that the level of financial literacy should be increased in Turkey, Şimşek continued as follows:

“Although public institutions, non-governmental organizations and private companies carry out projects in the field of financial literacy, the activities are scattered. In our country, financial literacy is taught as an elective course in vocational and technical high schools. In addition, financial literacy courses are given at a limited level in some associate and undergraduate programs. Financial literacy in primary education “There is a shortage of instructors within the scope of training.”

“Investors who remain defenseless suffer losses”

Stating that the awareness of households and companies about saving will be increased by increasing financial literacy, Şimşek said, “In recent years, it has been observed that individual investors, especially those with low financial literacy levels, act with the expectation of high profits and take high risks in the fields of forex, crypto assets and stock markets. Under the name of tips and sensations “It seems that these investors, who are vulnerable to misleading and misleading directions, have suffered losses. It is known that individuals with low financial literacy levels have difficulty in risk management, have limited knowledge of investment products, cannot measure the characteristics and risk levels of investment products, and cannot read company financials.” said.

Pointing out the importance of the steps they will take regarding financial literacy, Şimşek said:

“The steps and new projects we will take will take investor behavior to a professional level, increase participation in capital markets, and prevent investment behavior with herd psychology. Investors with low financial literacy may be harmed in capital markets, it is important for these investors to be cautious. In this context, we are starting the financial literacy era in capital markets. We are implementing projects such as the Financial Literacy Portal, Capital Markets and Finance Vocational Technical Anatolian High School, Finance Academy and training for housewives. These projects will present to investors the fact that it is rational to act with a long-term and diversified portfolio approach and, most importantly, by increasing market efficiency. “It will enable us to achieve a stable capital market level.”

“Educational activities for women continue”

Stating that the Capital Markets Board has been appointed as the coordinator institution in financial education studies carried out across the country, Şimşek said, “We will implement important projects to increase the level of financial literacy in our country. The Financial Literacy Portal prepared under the leadership of our Board will appeal to all segments of society under the main headings of banking, budget, credit and investment.” content will be presented.” he said.

Şimşek informed that the cooperation protocol between the General Directorate of Vocational and Technical Education of the Ministry of National Education and the Capital Markets Board for the opening of the Capital Markets and Finance Vocational Technical Anatolian High School has reached the signing stage and said:

“With this high school, it is aimed to train qualified manpower for the finance sector, which will provide 4 years of education in the field of capital markets and finance, supported by special programs and project applications. Work is continuing to establish a Finance Academy to provide training to those who want to work in financial markets and those who currently work in the sector. Family and “Cooperation protocol studies are continuing between the Ministry of Social Services and our Board for financial literacy training and training of trainers for nearly 800 thousand women entrepreneurs and housewives.”

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