Trainings for the population are one of its priority components. Necessity of this form of work with the population is linked with development of financial service market, what lead to elaboration of numerous special terms the ordinary citizen faces nearly every day.

Such words as “capitalization”, “clearing”, “indexation” and other notions are often used in the contracts the clients of the financial institutions deal with on daily basis. It is crucial to know all details of signed document in order to avoid misunderstanding, and as a result – potential conflict moments between the financial-crediting institutions and their customers. Trainings offered by the company FINCA equip ordinary citizens with necessary financial knowledge that they could make well-thought right decisions working with the financial-crediting institutions.

FINCA’s trainers explain thoroughly essence and functions of key financial instruments, tell about need to keep records of costs and income, train how to plan the family/individual budget, rules on calculation of financial costs under receiving or serving of the credits, and explain specific legal aspects of all contract relations with the financial-crediting institutions. Most of presentations are held in the regions for rural population; therefore the training programme is elaborated both in Kyrgyz and Russian languages. Any citizen can visit these seminars regardless of status – whether he/she is the client of the company FINCA or any other financial institution.

Last year and first quarter of this year, the company conducted about 140 trainings in 135 settlements over whole Kyrgyzstan. 38 trainers from the company staff were trained to hold sessions for the population. Special presentations and handouts were prepared for the participants of the trainings. About four thousand people attended trainings on financial literacy. Programme on financial literacy is not completed – currently, in 2013, it is planned to hold 500 training sessions to train eight thousand people.

For wide public awareness, our materials on financial instruments are also available in Kyrgyz language – in printed version of the newspaper “De-Facto”, and in separate rubric on a page of internet version of “Vecherny Bishkek” (in Russian). The reader can be acquainted with information on various services provided by the institutions of financial sector, with existing regulatory-legal documents, characteristics of investment activity, conditions of mortgage crediting, etc.  Due to achieved agreement with TV and radio company NTS, the company FINCA conducts a cycle of radio programmes based on training programme on enhancing of financial literacy of the population. The programme “Saramzhalduu akcha” is issued in Kyrgyz language every Tuesday at 12.30 and it is repeated same time but on Thursday on radio “Sanzhyra” (107,4 FM). Programme “Competent money” on air “Echo of Moscow – Bishkek”   (103,3 FM) is broadcasted every Tuesday at 08.30 in morning and it is repeated same time on Thursday.

Also, there is specific component on enhancing of financial literacy of the students within the project. In particular, bilateral partnership agreement with the Kyrgyz-Russian Slavic University has been signed. Today, curriculum of discipline “Private finance management” is developed. This course will be incorporated in the curriculum and it will be available for all students studying at different faculties of this university. Main work on development of this course of lectures will be carried out by teachers of the university based on material on financial literacy provided by the company FINCA. The partnership agreement also envisages organization of special programme of scientific-practical workshops and roundtables, holding of joint surveys and designing of materials aimed at enhancing of level of financial competence of the population. Contests on the best publications, analytical articles and research works in field of economic and finance will be organized among the students and teachers. In the nearest future, we plan to introduce course of lectures on subject “Financial literacy” and other universities of the republic.

The project on enhancing of financial literacy of the population envisages organization of the roundtable to identify the most relevant and urgent issues in highlighting of economic topics. It is planned to hold a special training for the journalists and students of media faculties, and more complex components of economic activity of the companies and the state will be considered. It is expected to conduct special journalist competition on the best article/programme in printed and electronic mass media, and on TV and Radio, which are devoted to economic topics.

Company FINCA implements activities of this project since it is responsible actor of the civil society.