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Global Seminar on Consumer Protection and Financial Literacy

Date: September 3, 2008
Location: Executive Board Room, Main Complex Building, World Bank Headquarters, 1818 H Street, NW, Washington, D.C. with videoconference links (see below)
Organized by: World Bank Group and CGAP
Contact: Colleen Mascenik at cmascenik@worldbank.org or via fax: +1 202 522 3480.

Overview: This one-day seminar will gather experts from donor organizations, not-for-profit organizations, financial regulators and policymakers, and private sector financiers involved in financial consumer protection and financial education initiatives. Participants will share the emerging financial consumer protection experience, as well as the latest survey data and analytical research, diagnostic reviews, practical approaches and lessons learned about effective financial literacy measures.

Speaker Biographies linked here

Link to the World Bank's work on Consumer Protection and Financial Literacy in the Europe and Central Asia region, good practices and country experiences. Go to: www.worldbank.org/eca/consumerprotection

Format
Why do so many consumers fail to save or budget their money when they intuitively know this could improve their financial well-being? Survey data from countries around the world indicate that most consumers lack understanding of basic financial concepts or are not optimally managing their finances. This in turn can exacerbate consumer protection problems and hinder the development of healthy, competitive financial markets.

Responding to these challenges, governments, not-for-profit organizations, donors and financial institutions are are stepping in with measures to better protect financial consumers. They are also leading initiatives to promote greater financial literacy. These initiatives can increase knowledge among consumers and can lead to positive change. But the results have varied. Why do some programs achieve significant changes in participants’ behavior, while others have only minimal impact? The World Bank Group and CGAP are working with partners to support consumer protection and financial education initiatives. The World Bank is also investing in new research on financial literacy in developing countries including impact assessments of program effectiveness.

As part of this effort, the World Bank Group and CGAP are co-organizing a Global Seminar on Financial Literacy and Consumer Protection, on Wednesday, September 3rd, 2008 at World Bank headquarters in Washington, D.C., and via videoconference link in Accra, Beijing, Dar es Salaam, Kampala, Mexico City, Nairobi and Pretoria. The seminar will gather experts from donor organizations, not-for-profit organizations, financial regulators and policymakers, and private sector financiers involved in financial education and consumer protection. Participants will share emerging financial consumer protection experience, as well as the latest survey data and analytical research, diagnostic reviews, practical approaches and lessons learned about effective financial literacy measures.
  • In Washington, the seminar will be held from 8:30am-5:00pm on Wednesday, September 3rd, 2008, in the Executive Board Room on the 13th floor of the World Bank Main Complex Building, located at 1818 H Street, NW, Washington, D.C.
  • In Accra, the link will take place from 6-9:30pm Accra-time, and it will connect with World Bank-Washington, and Mexico City. The location of the videoconference at World Bank office in Accra is: 69, Dr. Isert Road, North Ridge Residential Area, and the seminar will be held in the large conference room.
  • In Beijing, the link will take place from 9pm-12:00midnight, local-time, and it will connect with World Bank-Washington, Kampala-Uganda, Dar es Salaam-Tanzania, Moscow-Russia, Nairobi-Kenya, and Pretoria-South Africa. The location of the videoconference at the World Bank office in Beijing is: 16th floor, China World Tower 2, No. 1 Jian Guo Men Wai Avenue.
  • In Dar es Salaam, the link will take place from 3:30pm-7:00pm, local time, and it will connect with World Bank-Washington, Kampala-Uganda, Beijing-China, Moscow-Russia, Nairobi-Kenya, and Pretoria-South Africa. The location will be the large videoconference room, system 2, at the World Bank office in Dar es Salaam, at 50 Mirambo Street.
  • In Kampala, the link will take place from from 3:30pm-7:00pm, local time, and it will connect with World Bank-Washington, Dar es Salaam-Tanzania, Beijing-China, Moscow-Russia, Nairobi-Kenya, and Pretoria-South Africa. The location will be the large primary videoconference room, system 3, at the World Bank office in Kampala, at 1 Lumumba Avenue, Rwenzori House.
  • In Mexico City, the link will take place from 1pm-4:30pm local-time, and it will connect with World Bank-Washington, and Accra-Ghana. The location of the videoconference at World Bank office in Mexico City is: Insurgentes Sur 1605, Piso 24, San Jose Insurgentes, and the event will be held in Room 111, system-3.
  • In Nairobi, the link will take place from 4pm-7pm Nairobi-time, and it will connect with World Bank-Washington, Beijing-China, Kampala-Uganda, Dar es Salaam-Tanzania, Moscow-Russia, and Pretoria-South Africa. The location of the videoconference at World Bank office in Nairobi is: 6th floor, Hill Park Building, Upper Hill Road.
  • In Pretoria, the link will take place from 3-6pm local-time, and it will connect with World Bank-Washington, Beijing, Dar es Salaam, Kampala, Moscow, and Nairobi. The location of the videoconference at World Bank office in Pretoria is: First floor, Pro Equity Court, 1250 Pretorius Street, Hatfield, 0083, Pretoria, and the event will be held in Videoconference Room System-1.