Financial literacy practices of public institutions: the case of Turkiye

Abstract

Purpose- In today's world, where changes and transformations occur rapidly, we see new developments in the field of finance every day. Therefore, the importance of Financial Literacy has increased considerably today and it has started to take a large place in the strategies and development plans prepared by countries. The aim of this study is to investigate what kind of work is carried out by public institutions in Turkey in order to increase the financial literacy of the society and to raise financial awareness in the society. Methodology- In this study, document analysis, one of the qualitative research methods, was used to investigate what kind of studies were carried out by public institutions in Turkey on Financial Literacy. Findings- When academic studies conducted in the context of Financial Literacy are examined, it is seen that the financial literacy level of the society in Turkey is quite low, except for some basic financial concepts. When the education curriculum prepared by the Ministry of National Education of the Republic of Turkey is examined, it is seen that some financial issues are actually taught to all students from an early age. Conclusion- Especially in recent years, it is seen that institutions such as the Ministry of National Education, the Ministry of Treasury and Finance, the Ministry of Family and Social Policies, the Capital Markets Board, the Banking Regulation and Supervision Agency, the Central Bank of the Republic of Turkey and the Turkish Capital Markets Association have been working intensively in order to strengthen the financial awareness of the society. Keywords: Financial literacy, financial knowledge, financial behaviour JEL Codes: G53, I25, G51,