... Financial literacy needed to improve nation’s saving rate
JAMAICANS NEED to become literate and prudent about financial management in order to increase the country’s saving rate, says JN Bank Managing Director Maureen Hayden-Cater.
At the same time, Hayden-Cater added, financial institutions must take their role as educators seriously.
“It’s not a job for government alone. In fact, the financial sector needs to lead the cause,” she stressed, pointing to JN Bank’s financial literacy programme implemented through the JN Foundation to assist members with managing their lifestyle.
“And we could begin by assisting more persons to become confident with the services that financial institutions provide. If they are going to commit to save, then they must feel empowered to do so,” she said.
“They have to be able to bank on us,” she emphasised.