CBBH hosts the presentation of the results of the research on the young people financial literacy

On 13 November 2025, the Central Bank of Bosnia and Herzegovina (CBBH) and the Institute for Youth Development KULT, with the support of the Embassy of Sweden in Bosnia and Herzegovina, organised a presentation of the results of the research on the young people financial literacy in Bosnia and Herzegovina. The event was dedicated to increasing the young people financial literacy, through dialogue and discussion on the opportunities and challenges that young people face in this area.

The event brought together young people from different parts of Bosnia and Herzegovina, representatives of institutions, decision makers, academic community and civil society organizations, with the aim to discuss together support models, systemic solutions and the possibilities of long-term cooperation. Joint activities are aimed at encouraging a systemic approach to financial education and increase the including of young people in decision making processes for the issues that directly concern them.

At the beginning of the meeting, the participants were addressed by the Governor of the Central Bank of Bosnia and Herzegovina, Jasmina Selimović, Ph.D. who pointed out that the financial literacy of young people in BH is still not at a satisfactory level and significantly lags behind the minimum standards recommended by the Organization for Economic Co-operation and Development (OECD).

"While most young people understand basic economic concepts, such as inflation, the research shows that there is a need for a deeper understanding of the way how economic processes affect daily life. For example, around one third of young people recognise that inflation reduces the purchasing power of money, which clearly indicates the need to strengthen financial education in schools and the community," said Governor Selimović

The Governor also pointed out the gender and age differences in the financial literacy level, and the fact that the survey shows that young people often prefer spending over saving, rarely use budgeting and financial planning tools, although they show a positive attitude towards responsible borrowing.

During the introductory speeches, the Executive Director of the Institute for Youth Development KULT, Ajka Rovčanin, pointed out that insufficient research on this topic in BH, as well as the wish to stress the need for systemic financial education, were the main motives for the Institute to conduct such research, and the analysis includes extensive recommendations.

"Young people need good quality, practical financial education programmes, and digital tools and applications must be accessible and adapted to young people in BH, partnerships with banks, microfinance institutions and other institutions are needed, while the promotion of digital literacy and online safety should be an integral part of education. These are only some of the recommendations. They are not small, they represent large, strategic interventions in the educational and institutional system. And we have been doing just that for 23 years: supporting developing institutions, establishment and improvement of systemic solutions," said Rovčanin.

The Embassy of Sweden in Bosnia and Herzegovina supported the event, and the Head of the Department for Development Cooperation at the Embassy, Birgitta Jansson, pointed out that financial literacy does not only imply understanding numbers and managing budgets, but also refers to making the right financial decisions. That is why it is important to provide proper information to young people to make informed decisions and create their own future.

"In BH, we have been supporting initiatives that contribute to the empowerment of young people for years. We are glad to support partners who create opportunities for such changes. Today, young people are given the opportunity to be solution makers, not just observers and policy users," Jansson said.

The analysis of the research on young people financial literacy in BiH was presented by Aziz Đipa, Head of the Department for Monitoring, Evaluation and Research at the Institute for Youth Development KULT. As he said, due to insufficient understanding of complex financial topics and superficial knowledge of digital tools, young people often face financial limits.

"Education about investments, pension funds and other savings products can help change young people's attitudes towards saving.  In any case, educational programmes that cover a wide range of financial topics, from basic to advanced investment strategies, should be developed and implemented," said Đipa.

As part of the event, an introductory lecture and group work was held on the topic "What is financial literacy and how does it affect the lives of young people" where young people worked in groups and talked about the importance of this topic. This was followed by two panel discussions.

The first one, "The Role of Institutions in Strengthening Financial Literacy of Youth", gathered representatives of financial and regulatory institutions and academic community, and was attended by Enes Kurtović, Head of the Communications Office of the CBBH, Lejla Smajović, Ombudsman for the Banking System of the Federation of BH, Vladimir Rudić, Ombudsman for the Banking System of Republika Srpska and Prof.  Igor Živko, Ph.D. from the Faculty of Economics of the University of Mostar. 

The second panel discussion, "Public Policies for the Purpose of Youth Needs", was dedicated to dialogue with decision makers at the state and the Entity level, with the participation of Ermina Salkičević – Dizdarević from the Parliamentary Assembly of Bosnia and Herzegovina, Slaven Raguž from the House of Representatives of the Parliament of the Federation of BH, Amra Babić from the House of Peoples of the Parliament of the Federation of BH and Asmir Omerdić, graduate economist and youth leader.

The event was an important opportunity for young people to exchange experiences, identify challenges and suggest solutions that can contribute to shaping the approach of competent institutions in education, regulation and promotion of financial tools and services. At the same time, the event is a continuation of the CBBH's activities aimed at raising the level of financial literacy and creating a more financially aware society in Bosnia and Herzegovina.