The Ministry of Education, the Ministry of Family Affairs, Integretation and the Great Region and the Ministry of Finance support actively ‘D’Woch vun de Suen’ (Money Week, Luxembourg). The banking supervision authority ‘Commission de Surveillance du Secteur Financier’ (CSSF) created a Financial Education Working Group bringing together the main concerned stakeholders from the public and private sector, NGOs as well as the Luxembourgish Consumer Protection Association. This Working Group has finalized a document on the national strategy for financial education in Luxembourg in July 2015, which has been submitted to the Governement in September 2015.
The Minister of Finance gave a mandate to the CSSF to develop and coordinate all the activities in the area of financial education in Luxembourg in July 2017.
The Fondation ABBL pour l’éducation financière
The Fondation ABBL pour l’éducation financière was founded in September 2016. Its purpose lies in supporting and promoting Financial education through the organisation of events, trainings in the field of finance and university courses via the University of Luxembourg.
The goals of the Fondation ABBL pour l’éducation financière are fourfold:
- support and promote financial education in Luxembourg and abroad;
- boost vocational training in the fields of professional finance;
- sustain academic education via the University of Luxembourg; and
- foster research via the financing of doctorates, post-doctorates and professor chairs.
The Board of Directors of the Fondation ABBL pour l’éducation financière
The Fondation ABBL pour l’éducation financière is ready to support more projects in the years to come and hopes to reach more pupils, students, adults as well as profession as well through other initiatives related to financial education. It also intends to collaborate with actors accompanying philanthropic projects and would like to submit some projects through the Fondation de Luxembourg to raise awareness about some initiatives.
The D’Woch vun de Suen (Money Week), organised by the ABBL for the last 5 years, will benefit from financial support in order to develop educational tools.
The second project supported by the Fondation is a research project led by the University of Luxembourg on the theme “Know Your Customer” in relation to Distributed Ledger Technology opportunities. This project aims at allowing actors of the financial center to rely on effective methods in order to identify clients.
The Board of Directors
- DE CILLIA Serge, CEO of the ABBL, Chair
- HOFFMANN Guy, Chairman of the ABBL, Vice-Chair
- MARX Claude, General Director of the CSSF (Trésorier)
- ETIENNE Pierre, Head of the ABBL Private Banking Group, Luxembourg
- HILGER Jean, Head of the ABBL Digital Banking and FinTech Innovation Cluster, Luxembourg
- NEUBERG Luc, Chairman of ALRIM
- PALLAGE Stéphane, Rector of the University of Luxembourg
- DIEDERICH Léon, Premier Conseiller of the Ministry of Education
ABBL Members’ initiatives
Many ABBL members offer financial education programmes, initiatives and publications addressed to pupils, high school students as well as university students.
Money Week – D’Woch vun de Suen
The purpose of this event, part of the European Money Week, is to make pupils of the cycle 4 (Luxembourg primary school, children aged 10-12) aware of ‘money’ aspects. A range of activities to encourage better financial education and to boost financial literacy are organised during this Money Week.
- The Luxembourgish Consumer protection Association (Union Luxembourgeoise des Consommateurs), the ‘Ligue Médico-Sociale’, Inter-Actions and Caritas Luxembourg, propose information and advice services on indebtedness. These charities are also members of the CSSF Financial Education working group.
- Jonk Entrepreneuren (Luxembourgish section of Junior Achievement Worldwide): the aim of this association is to promote creativity among young people and to introduce them to the professional world. Their programme ‘Fit for Life’ offers a module on how to manage a budget.
- The Chamber of Commerce: The Luxembourg economy – Did you know ?
If you are a secondary school teacher and your students would like to get to know more about the Luxembourg economy, this workshop is just right for you ! The experts of the Economic Affairs team of the Luxembourg Chamber of Commerce would be delighted to give them a better understanding of what the Luxembourg economy has to offer:
- Luxembourg is a true metamorphosis champion : starting out as an agrarian economy, the country quickly turned into a global industrial player to become a highly dynamic and innovative services economy.
- At the very heart of Europe and packed with innovative surprises, Luxembourg is one of the most open economies in the world and an attractive business location.
- Where is the Luxembourg economy heading and what is it aiming at ? What challenges is it facing ?
- All these questions and ideas will be addressed within 90 minutes, interactivity being provided through an open quiz.
Interested teachers can get in touch with the « Relation Ecole-Entreprise » team of the Chamber of Commerce: firstname.lastname@example.org.