The “World Savings Day 2024” Campaign Concludes

The closing event for the “World Savings Day 2024” campaign, successfully implemented nationwide throughout October, took place on October 31, 2024, in Erdenet, Orkhon Province. The event was attended by G. Enkhtaivan, Deputy Governor of the Bank of Mongolia, with representatives from partner organizations. During the ceremony, attendees enjoyed a presentation on the importance of saving, an introduction to the “Financial Education” mobile app, and a demonstration of the “Pocket Money Spending Plan” notebook. Prizes were awarded to students who excelled in the themed competition.

Jointly organized by the Bank of Mongolia, the German Savings Banks Foundation in Mongolia, and the Mongolian Bankers Association, this year’s campaign was conducted under the slogan “Let’s Save with a Purpose.” Alongside training and advocacy activities aimed at encouraging children and young people to save, the campaign also featured art and poster contests, both in person and online, promoting the importance of savings.
Traditionally, “World Savings Day” focuses on children and young people, to develop financial discipline and foster savings habits. This aligns with the Bank of Mongolia’s policy to enhance public financial literacy and promote financial stability. Since 2017, the Bank of Mongolia has actively participated in this global initiative, which began in Milan, Italy, in 1924 and celebrates its 100th anniversary this year.

By September 2024, these efforts were reflected in the national savings figures, with total deposits in Mongolia reaching 24.9 trillion MNT—an increase of 5.1 trillion MNT, or 25.7%, over the same period last year. This growth underscores the impact of collaborative financial education efforts and Mongolia’s commitment to supporting financial literacy for all.