Mastercard supports 5th edition of Young Bankers’ Olympiad

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  • The Young Bankers’ Olympiad is a financial education competition for 3rd and 4th graders
  • In the final stage of the competition, Mastercard bestowed the special award for “Innovation in Financial Education”

 

Mastercard has supported the 5th edition of the Young Bankers’ Olympiad, an event involving more than 4,000 pupils from all over the country, conferring a special award for “Innovation in Financial Education” during the award ceremony that took place on Friday, May 4. At the Young Bankers’ Olympiad, children compete to prove the knowledge gained in the Financial Education optional course. Since the introduction of the optional course – in the 2013-2014 schoolyear –, more than 250,000 primary school pupils have taken financial education classes.

This year’s edition of the Young Bankers’ Olympiad started in March, when pupils from 34 counties and Bucharest took a written test to verify their financial education knowledge. After this first test, the top three pupils from each of the 37 participating schools were admitted to the next stage of the competition, where they were able to test their creativity by using models, photographs, drawings, and collages to draw up their own financial education projects.

The best 67 projects were selected for the final stage, which took place on Friday, May 4. The stage consisted of a written test. Eight winners were selected and were awarded during a festivity organised at the ‘Nicolae Kretzulescu’ Commercial School in Bucharest. Before the award ceremony, the young bankers and their teachers visited the headquarters of Mastercard, where they interactively discovered the role of the card, the way a card is used and the benefit of using it as method of payment.

“Financial education is essential for a modern and healthy society. As future actors on the economic stage, whether as consumers or entrepreneurs, today’s pupils have at their disposal all instruments they need to gain not only key-knowledge from the world of finances, but also a responsible attitude toward money. We believe these elements prepare them for a volatile, continuously-changing world, equipping them with prudent thinking. As leader in the global payments industry, Mastercard supports financial education and we are glad to confer once again the special award for Innovation in Financial Education to visionary young bankers,” said Cosmin Vladimirescu, General Manager Mastercard Romania.

At the 2018 edition of the competition, Mastercard’s special award for “Innovation in Financial Education” was bestowed upon the ‘Association of Enterprising Children – Time is Money’ project, submitted by a team of fourth-graders from the ‘Petru Maior’ Technological High School in Reghin. Under the guidance of their teacher, Elena Melania Platon, three young bankers – Darius Ioan Pol, Bianca Andreea Pralea and Paul Andrei Oprea – impressed the jury with their special care to details, their understanding of the importance of financial education and their ability to share their knowledge with even younger generations. Thus, they proved, for the first time in this competition, that mentorship can start even at this young age, and that future successful entrepreneurs shape the world around them from a young age.

Organised by the Association for the Promotion of Performance in Education, in partnership with the Prahova County School Inspectorate, the Young Bankers’ Olympiad is part of the project meant to introduce and promote the Financial Education optional course at the level of primary education, project handled by the Association for the Promotion of Performance in Education in partnership with the National Education Ministry.

Mastercard, as technology leader in the global payments industry, constantly supports the improvement of Romanians’ financial knowledge, this being the reason it got involved, as a partner, in the Young Bankers’ Olympiad project ever since its first edition. Other financial education projects backed by Mastercard over the years are: Educard – the financial education platform launched at the end of 2009, whose objective was to contribute to the financial education of consumers, and Tribuna Consumatorilor (www.tribunaconsumatorilor.ro) – a unique initiative in Romania, the first online platform that manages to include correct and useful information for all types of consumer needs.