Remarkable engagement with “Bankee”: The School Micro Economy Program

As part of following up the implementation of “Bankee” financial literacy program a few days after it was launched in selected schools, National Bank of Kuwait (NBK) communicated with the implementing parties regarding implementation methods, practices, as well as the reactions the support required to achieve its desired goals.

The “Bankee” program has been launched recently by NBK, in cooperation with the Ministry of Education, and Kuwait Anticorruption Authority (Nazaha), in selected schools in Kuwait. The program aims to increase financial literacy among school students by introducing financial culture to them in a practical and engaging experiential manner.

“Bankee” is the first program of its kind in Kuwait, which is devised by a number of young trainees under the sponsorship of NBK to explore innovative solutions to promote financial literacy among the members of society in a sustainable manner.

The program aims to familiarize students with core financial concepts like earning, spending and saving money. This is done through simulating real-word economy in the classroom using applied learning and gamification techniques including paid jobs, bonuses and fines, expenses and financial responsibilities.

Commenting on the launch of the program’s activities, Mrs. Sumayah Al-Jasem, Founder, Managing Director at Creative Confidence Consultancy and Training, said: “I feel proud and happy with the extent of engagement from students and supervising teachers. I am also happy with the positive feedback, which proves that we are on the right track to achieve the program’s goals and raise financial literacy among our children from school students.”

“The Bankee program is flexible enough to accommodate the difference between private and public schools. Through regular workshops, we have tried to actively cooperate with schools and teachers in both the design and implementation phases, in order to facilitate the integration of the program in the participating schools,” she noted.

Al-Jasem explained that the program’s key characteristic is instilling core moral values and economic concepts through practice and hands-on experience, such as responsibility, preserve public properties, as well as abidance by law and integrity. It also provides a safe space for learning and error, as students are faced with many economic challenges, through which they learn how to take informed decisions, build independent personality, and get prepared to deal with the challenges they may encounter in the future. 

“The “Bankee” program enables teachers to manage the classroom in a more effective, positive and motivational manner, while helping students to control their behavior in and outside the classroom, and encourages them to actively participate in different school activities,” she added.

It is worth mentioning that NBK harnesses its dedicated efforts and capabilities towards fruitful cooperation with all government civil society institutions for the development of society and human resources. This comes in line with the bank’s belief that people are the cornerstone for achieving growth and prosperity, especially in the field of education, which the bank provides all sorts of support to develop it.