... Fi­nan­cial lit­er­acy needed to im­prove na­tion’s sav­ing rate

Jamaica Gleaner - - GROWTH & JOBS -

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.

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