Academic Centre
The voluntary association of the banks registered in Latvia and the branches of foreign banks. The goal of the organization is to facilitate the strength and development of the Latvian banking system by uniting the banks registered in Latvia and the branches of foreign banks. Established in 1992.
On 20 October 2011, the Association of Commercial Banks of Latvia and the University of Latvia signed a memorandum on the implementation of the project of financial literacy (the set of skills and knowledge that allows an individual to make informed and effective decisions about all of their financial resources and the use of available financial products and services. The results of surveys show that the level of financial literacy in Latvia is low, which has a negative impact on planning of personal finance, formulation of household and business budgets and the financial stability of the economy) in order to jointly improve the quality and content of financial education and thus raise the level of financial knowledge and skills of the Latvian population.
Support
The first contract within the framework of the Memorandum was signed on assistance to the project "Strengthening of the capacity of the UL in the discipline of anthropology, improvement of the programme competitiveness, June 2011 – June 2012." In the process of anthropological studies, the research topics are to be developed including the financial literacy, financial decision making and reasoning of the Latvian population and analysis of the available teaching aids on financial matters.
The amounts donated for the project "Strengthening of the capacity of the UL in the discipline of anthropology, improvement of the programme competitiveness" – in the 2012/2013 academic year – EUR 11 400; in the 2013/2014 academic year – EUR 11 400.
We greatly appreciate the generous support to education and development!