“The website addresses the former lack of information on the securities market and its opportunities, giving access to citizens rather than just professionals,” notes Ms. Drozdova. “The securities market can’t grow to its full potential without public awareness of how it works; people need reassurance on the legal protection of their investments.” She feels sure that this is why most people rely on foreign currency savings or short-term bank deposits, as well as investing in property.
To improve financial literacy regarding the securities market, a campaign is to run to raise awareness among citizens: about their rights and opportunities for investment of personal savings. “We’ll create a specialised Internet resource detailing the state of the securities market, including educational materials, which will certainly help to increase transparency and openness for domestic and foreign investors,” stresses a representative from the Finance Ministry.
These measures are part of a joint action plan by state authorities and financial market participants, aimed at improving the financial literacy of the population. The programme is running from 2013 to 2018, approved by the Council of Ministers and the National Bank of Belarus.