FINANCIAL LITERACY AND CONDITIONS FOR ITS IMPROVEMENT

Authors

  • Novo Plakalović
  • Boško Mekinjić
  • Flora Merko
  • Daniela Lika

DOI:

https://doi.org/10.7251/ZREFB1913001P

Abstract

In this paper we explain the notion of financial literacy and its importance for citizens,
financial institutions and society as a whole. Low level of financial literacy and
insufficiently organized institutional framework can create many problems for
individuals and financial institutions as a whole. In Bosnia and Herzegovina, a very small
number of people are financially literate. There is no strategy for raising the level of
financial literacy. Bosnia and Herzegovina is a country that, in relation to its
surroundings, at least strives to raise the level of financial awareness and literacy of
citizens. If it is not possible to adopt a national strategy for raising the level of financial
literacy in B&H, it would be necessary to use the existing institutional capacity to
increase the level of literacy of all structures and groups of the population.

Published

2019-07-29