FINANCIAL LITERACY AND CONDITIONS FOR ITS IMPROVEMENT

Novo Plakalović, Boško Mekinjić, Flora Merko, Daniela Lika
2019 ZBORNIK RADOVA EKONOMSKOG FAKULTETA BRČKO  
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 andinsufficiently organized institutional framework can create many problems forindividuals and financial institutions as a whole. In Bosnia and Herzegovina, a very smallnumber of people are financially literate. There is no strategy for raising the level offinancial literacy. Bosnia and Herzegovina is a country that, in
more » ... ry that, in relation to itssurroundings, at least strives to raise the level of financial awareness and literacy ofcitizens. If it is not possible to adopt a national strategy for raising the level of financialliteracy in B&H, it would be necessary to use the existing institutional capacity toincrease the level of literacy of all structures and groups of the population.
doi:10.7251/zrefb1913001p fatcat:b4ah4t7ewrhblhmwgaa5qsnu7y