Improving financial capability is not just important for the UK, but for the whole world and there’s considerable scope for improvement in levels of knowledge, behaviour and attitudes when it comes to money.

Financial capability - a global issue

The need for financial education and literacy is now universally recognised and is a core component of financial empowerment for individuals and the stability of the financial system, according to the Organisation for Economic Cooperation and Development (OECD).

The OECD also highlights the importance of developing national strategies on financial education,
particularly for young people and vulnerable groups, as the digitalisation of finance bring new
opportunities and challenges to consumers.

In 2016, the leaders of the G20 endorsed the National Strategies for Financial Education, developed by the OECD and International Gateway for Financial Education. In response, the vast majority of G20 countries have a national strategy in place to tackle these
issues.

Countries where a first strategy is being revised or a second national strategy is being implemented

Australia
Czech Republic
Japan
Malaysia
Netherlands
New Zealand
Singapore
Slovak Republic
Spain
United Kingdom
United States

Countries where a (first) national strategy is being implemented

Armenia
Belgium
Brazil
Canada
Croatia
Denmark
Estonia
Ghana
Hong Kong
India
Indonesia
Ireland
Israel
Latvia
Morocco
Nigeria
Portugal
Russian Federation
Slovenia
South Africa
South Korea
Sweden
Turkey

Countries where a national strategy is being actively designed

Argentina
Chile
China
Colombia
Costa Rica
El Salvador
France
Guatemala
Kenya
Kyrgyzstan
Lebanon
Malawi
Mexico
Pakistan
Paraguay
Peru
Poland
Saudi Arabia {:target=”_blank”}
Serbia
Tanzania
Thailand
Uganda
Uruguay
Zambia

Countries where a national strategy is being planned

Austria
FYR Macedoniaopens in new window
Philippines
Ukraine
Zimbabwe