Monday, October 23, 2017
   
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Frequently Asked Questions

 

What is Financial Literacy?

Financial literacy includes basic numeracy skills as well as the information and knowledge required to function as an active and empowered consumer of financial services. It provides the basis for saving and investing wisely and is the starting point for the responsible use of credit and money. Financial literacy is an essential tool for each of us, whether we are making choices as students, consumers, savers, workers, preparing for retirement or just simply responsible citizens.

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How will I benefit from Financial Literacy?

This programme will benefit you by making you more aware of basic financial matters which can assist you in present and future decision making and money management. You will gain knowledge of the benefits of saving and investing in addition to obtaining advice on financial matters that even if are irrelevant to you now will be valuable to you in the future. All this and more can be achieved for FREE if you involve yourself in the activities to be hosted by the programme.

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Can I open a savings account at the Bank of Guyana?

NO. The Bank of Guyana acts as the Central Bank of Guyana. Its primary purpose is to formulate and implement monetary policy so as to achieve and maintain price stability. The other major purpose is to foster a sound, progressive and an effective financial system. In the discharge of its functions, the Bank strives to:

  • Promote a sustained and non-inflationary growth of the economy.
  • Maintain the integrity and value of the Guyana dollar.
  • Secure the credibility of the financial system, including payments arrangements, through supervision and oversight

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What are the services/facilities available at the ATMs?

In addition to cash dispensing ATMs may have many services/facilities such as:

  • Account information
  • Deposits
  • Summary Statements

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Why should I open a current account?

A current account is a great way to store your money and helps you keep track of your spending. Current accounts are also very convenient.

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