Two days left to submit applications to the money compass foundation in relation to the implementation of the financial education programme in secondary schools

Budapest, 23 May 2012 - In view of the success and results of the Financial Education Programme (FEP), the Money Compass Foundation — established upon the initiative of the Magyar Nemzeti Bank — has once again announced a tender to support the development of the financial literacy of secondary school students. There are 2 days left to submit applications until May 25.

The tender aims at supporting secondary educational institutions that undertake the introduction and teaching of the Financial Education Programme (FEP), jointly developed by the Magyar Nemzeti Bank and the Budapest Stock Exchange, in their school curriculum. Sixty secondary schools participated in the programme in the 2011/2012 academic year. On the basis of interim feedback, both the contributing teachers and the participating 2,800 students considered the initiative to be successful and useful. The central programme of the Internet based Financial Education Programme is composed of a curriculum covering financial-economic subjects, with a focus on practical knowledge, and supplemented with case studies, exercise sheets, teacher support and a real stock exchange simulation game. The educational programme essentially provides economic-financial knowledge necessary in our everyday lives.

Tenders may be submitted by Hungarian based secondary level educational institutions with an OM (educational) code, and at least one participating teacher. The aid is available for organising and implementing classes during school hours and off-school hours for 9-12th grade students. The amount of awarded aid is gross HUF 100 thousand, which the institution may spend on the establishment of conditions necessary for the introduction of the programme, and maximum net HUF 200 thousand — depending on the number of students participating in the programme — to be paid to the teacher(s) taking part in the programme.

In addition to teaching the FEP, new applicant institutions of the programme also undertake to join the school network launched in the autumn of 2009 upon the initiative of the Money Compass Foundation, supported by the State Secretariat for Education of the Ministry of National Resources, which coordinates educational institutions participating in the teaching and dissemination of economic, financial and entrepreneurial culture and knowledge. The network currently has over 90 secondary school members, including FEP schools.

Deadline for applications: 25 May 2012. Additional information available on the www.penziranytu.mnb.hu and www.penziskola.hu websites.

MAGYAR NEMZETI BANK

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The primary objective of the MNB shall be to achieve and maintain price stability. (...) Without prejudice to its primary objective, the MNB shall support the maintenance of the stability of the system of financial intermediation, the enhancement of its resilience, its sustainable contribution to economic growth; furthermore, the MNB shall support the government’s economic policy and its policy related to environmental sustainability, using instruments at its disposal.