On 26-27 May, AFI participated in the “Partnering to Turn Financial Literacy into Action” conference hosted by the Financial Consumer Agency of Canada (FCAC) and the Organization for Economic Co-Operation and Development (OECD).

The conference was part of OECD’s International Network on Financial Education (INFE) program and brought together senior officials and experts from the international public and private sectors to share experiences and best practices on issues including; financial literacy strategies, gaps, program evaluations, capacity building, financial literacy as part of the national school system and behavioral economics.

Launched in 2003, INFE currently counts 77 countries and over 160 public institutions as part of its membership. Included in this group are AFI members from South Africa, Mexico, Brazil, Malaysia, the Philippines and Indonesia. There are 6 subgroups currently within INFE exploring various aspects of financial education, including one focused on the connection between financial education and financial inclusion.

AFI was invited to sit in on the conference as an associate member and took the opportunity to explore areas of possible collaboration and mutual interest. Although the core areas of work for AFI and INFE are unique, the members of both organizations are taking a greater interest in financial literacy and its relationship to financial inclusion.

OECD will continue its focus on financial literacy with the BI-OECD Regional Asian Seminar on Financial Literacy in Jakarta, Indonesia on 27 June 2011 and the OECD-FSB Conference on Financial Literacy planned for 27 October 2011 in Cape Town, South Africa. AFI will have a presence at both these events.