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Building the ChildFinance Movement Luxembourg, European Microfinance Week November 3 rd , 2011

Building the ChildFinance Movement Luxembourg, European Microfinance Week November 3 rd , 2011 Jared Penner, ChildFinance Education Manager. Mission and Vision of the ChildFinance Movement. ChildFriendly Banking Certification Criteria. Minimum Institutional Requirements

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Building the ChildFinance Movement Luxembourg, European Microfinance Week November 3 rd , 2011

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  1. Building the ChildFinance Movement Luxembourg, European Microfinance Week November 3rd, 2011 Jared Penner, ChildFinance Education Manager

  2. Mission and Vision of the ChildFinance Movement

  3. ChildFriendly Banking Certification Criteria • Minimum InstitutionalRequirements • The financial institution is licensed under appropriate national laws and regulations • The institution is in good standing with its national regulatory authority • The institution is covered by a deposit guarantee scheme, if applicable, in the country • The institution has a code of conduct with respect to children including staff training and development programs on how to interact with children • CertifiedChildFriendlyProducts • Non-discriminatory access to products • Maximum control by the child within the national legal and regulatory framework • Net positive financial return received by the child • No penalty in case of withdrawals • No or minimal requirements with respect to initial opening deposits • No credit facilities related to product • Child-friendly communication surrounding the product • Financial education component to the product (different levels ranging from educational brochures to “Bank in School programs”)

  4. ChildFinance Country Platform • Advisory committee steered by Finance Authority • Taskforces implement ChildFinance activities National Advisory Committee Inclusion Taskforce ChildFinance Education Taskforce Academia TaskForce Media Taskforce Technology Taskforce

  5. ChildFinance Education Core Content Framework • Curriculum Development Guide, Not Independent Program • Learning Outcomes along Four Levels of Complexity • Level 1 – 0-5 years • Level 2 – 6-9 years • Level 3 – 10-14 years • Level 4 – 15+ years • 3 Components: • Financial Education (OECD, UNCDF): Resources and Use, Planning and Budgeting, Risks and Rewards, Financial Landscape • LifeSkills Education (UNICEF, UNESCO): Cognitive Skills, Personal Skills, Interpersonal Skills • Livelihoods Education (ILO): Entrepreneurship, Lifepath Mapping

  6. Challenges: • Sustainability of the ChildFinance Movement and its activities • Effective coordination of multiple initiatives • Making the business case within the current financial climate • Child labour critics / The realities of working children • Impact evaluation • Please join the ChildFinance Movement!!! • Contact jared@childfinance.org or www.childfinanceinternational.org

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