Experts Agree on the Importance of Financial Inclusion in Early Life
At the 88th Bancaria Convention, experts gathered to discuss the impact of financial inclusion on social mobility, emphasizing that it’s not just education that matters.
Óscar Rosado Jiménez: The Importance of Financial Literacy at Home
Óscar Rosado Jiménez, President of the National Commission for the Protection and Defense of Users of Financial Services (Condusef), highlighted that children growing up in financially inclusive households have greater social mobility.
According to Rosado Jiménez, the Condusef’s 2024 Financial Health Survey, conducted in collaboration with INEGI, shows that children whose parents discuss money matters from a young age are more likely to access financial inclusion, such as having credit cards or savings accounts.
Julio Serrano Espinosa: Advocating for Financial Education in Schools
Julio Serrano Espinosa, President of the Centro de Estudios Espinosa Yglesias (CEEY), proposed introducing a financial education curriculum in all basic level schools, both public and private.
However, Serrano Espinosa acknowledged that education alone is not the sole solution for greater financial inclusion, as countries with lower literacy rates than Mexico still have higher levels of financial inclusion.
The study found that 37% of financially included individuals grew up in households where both parents had access to financial products, while 95% of those without financial inclusion had parents with no access to any financial products.
Hugo Nájera Alva: Banks’ Role in Financial Education and Inclusion
Hugo Nájera Alva, Head of Retail Banking at BBVA México, stressed the importance of both education and inclusion for banks’ business interests.
Nájera Alva emphasized that banks should actively participate in efforts to increase financial education and inclusion, as it directly benefits their operations.
Key Questions and Answers
- Q: What is the main topic discussed at the 88th Bancaria Convention? A: The impact of financial inclusion on social mobility, with a focus on its importance from childhood.
- Q: Who are the key figures mentioned in the article? A: Óscar Rosado Jiménez, President of Condusef; Julio Serrano Espinosa, President of CEEY; and Hugo Nájera Alva, Head of Retail Banking at BBVA México.
- Q: What did the 2024 Financial Health Survey reveal about financial inclusion? A: The survey found that children who learn about money matters from a young age are more likely to access financial inclusion, with 37% of financially included individuals growing up in households where both parents had access to financial products, compared to 95% of those without financial inclusion having parents with no access.
- Q: What proposal was made regarding financial education in schools? A: Julio Serrano Espinosa suggested introducing a financial education curriculum in all basic level schools, public and private.
- Q: What role do banks play in promoting financial inclusion? A: Hugo Nájera Alva emphasized that banks should actively participate in efforts to increase financial education and inclusion, as it directly benefits their operations.
