HONG KONG, December 27, 2022 /PRNewswire/ — QNET is proud to partner with the Foundation for the Support of Women’s Work (KEDV) in Istanbul, Turkey, to improve financial education among women. The association is part of QNET exclusive financial education program, FinGreenwhose objective is to promote financial autonomy and the inclusion of vulnerable groups, such as women, by addressing knowledge gaps and empowering people to make informed financial decisions.
Financial education, or the ability to understand and effectively use financial tools, is key to making informed decisions for one’s long-term financial well-being. QNET believes that financially literate people can experience a better quality of life and financial resilience as they know how to manage their personal finances, plan for the future, and recover from economic crises or hardships. The OECD International Survey of Adult Financial Literacy 2020 highlighted an imbalance in financial literacy rates between genders, with men statistically more financially literate than women worldwide.
In Turkey, only 54 percent of women have a bank account, compared to 83 percent of men, making it one of the most significant gender gaps in financial education and inclusion in a developing economy. This stems from various social and structural barriers, such as:
- Many women do not open a personal bank account because they do not understand the benefits of having access to banking services.
- Women earn a lower salary on average, compared to men. This means that they are less likely to open and maintain a bank account at financial institutions due to the high associated costs.
- Many women are not part of the labor force (for example, housewives or family caregivers) or are involved in the informal economy and find bank accounts unnecessary.
To help bridge the financial literacy gap between genders, QNET partnered with KEDV to host financial workshops and training sessions for women of diverse backgrounds to become advocates for financial education and lead knowledge transfer opportunities for their peers. under its FinGreen program.
The program is structured based on the three FinGreen pillars: assess, train and advocate:
- Evaluate – FinGreen’s first approach to educating communities about financial literacy is planted from scratch. QNET partners with KEDV, a women-focused non-profit organization in Turkey, to assess who, where and how best to implement training sessions, developing a track record of progress and understanding core messages.
- Train – The training is divided into short sessions that take place in person or online, where peer-to-peer conversations are strongly encouraged. Trainers for each session are highly qualified and are selected based on their knowledge, ability to share information effectively, and teaching methods.
- Advocate – A unique facet of FinGreen is its commitment to building a sustainable program, which serves as the foundation for developing curiosity, self-esteem, and relational skills through education. QNET and KEDV will nurture participants to become benchmarks for their peers and the community on financial education issues, creating a ripple effect that makes financial knowledge more accessible and has lasting influence in the community. These women will also be empowered to become financial education knowledge leaders in their respective social circles and in future FinGreen trainings in Turkey.
The first session started with professional KEDV trainers introducing basic financial concepts such as budgeting, wages and labor, inflation and more to a group of thirteen women consisting of housewives, businesswomen and corporate employees. These women will attend six training sessions focusing on topics such as budgeting, wealth management, basic investment skills, and responsible management of personal finances before leading the next FinGreen training for other women.
QNET Turkey marketing manager Irmak Sütçü says QNET is committed to its FinGreen program to empower women as leaders and create a safe space to discuss their financial concerns and well-being. “From pay gaps to cultural stereotypes to systemic barriers, financial challenges affect women differently than men. Many women struggle to achieve financial independence and the ability to sustain a livelihood in the future, which it further underscores the importance of our FinGreen program in educating women about financial literacy.”
One of the participants, Yadigar Kaya, said that women are often overlooked when it comes to financial education and training. “Women contribute to the economy by caring for children, running our homes and ensuring that our families are happy and healthy. However, the reality is that we do not earn money from our work, so we rarely have the opportunity to understand how money and economics work I wanted to attend this financial education training because I realized that this should not be the case, women deserve to learn how to manage their finances too The program helped me understand financial terminology in a easy-to-understand format, and I’m looking forward to educating my friends and other women on what I’ve learned here.”
Sütçü further comments that QNET is pleased to partner with KEDV to expand its FinGreen program in Turkey, as KEDV is one of the oldest organizations supporting grassroots women’s movements to transform and empower their lives.
She adds, “Our first financial education training session in Turkey was held online in May, where we talked to 45 women from different walks of life, especially those with financial problems, and it was an eye-opening moment for us. They made us realize than needed to expand our program footprint in Turkey Women are eager for more opportunities to become leaders in financial education advocacy – many of the trainees in our first sessions were so excited to share the knowledge they received from the sessions with her friends, colleagues and family. It’s inspiring to see the impact of QNET’s FinGreen program on women’s financial education and leadership.”
Gülfidan Yıldız Sürekli, one of the founders of KEDV who participated in the training sessions, said that financial education is vital for a woman’s personal development and future. “It is my hope that the women who attend our training educate other women on how financial education can help them lead a better and more financially stable life.” she said.
In addition to educating women on financial literacy and empowering them to become peer leaders in their communities, QNET also advocates the same for young people. in emerging economies. In Nigeria, FinGreen has partnered with Financial Literacy For All (FLFA), a nonprofit organization that provides on-the-ground financial literacy workshops for students and young adults in underserved communities.
About QNET QNET is one of the world’s leading e-commerce-based direct selling companies, with customers in nearly 100 countries. The company is headquartered in Hong Kong and has a global presence through subsidiaries, branches, agency associations and franchises.
QNET is also active in sports sponsorships around the world. This includes being the direct sales partner of Manchester City Football Club and the CAF African Club League Championship.
For more information, visit the QNET website at www.qnet.net.
About FinGreen FinGreen is QNET’s flagship program for financial education, which aims to develop healthy financial habits through education and training in the most vulnerable communities, especially among young adults. The goal is to develop essential financial knowledge and skills to provide a solid foundation for managing money, savings, and payments, as well as provide the tools to empower others in your community.
Program participants learn the basics of personal finance, especially critical planning and management skills, to give them a head start in establishing a foundation for their future growth and financial stability.
FinGreen is part of QNET’s overall corporate social responsibility initiative to empower entrepreneurs and create a better future for all. For more information, visit www.qnet.net/fingreen.
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