Secondary school students island-wide will now be exposed to the rudiments of the Jamaican financial system through an online android financial education competition/game launched by the Jamaica Deposit Insurance Corporation (JDIC/the Corporation) on Friday January 29, 2016 at the Montego Bay Cultural Centre in St James.
The Game, “The Adventures of the Little Big Saver”, is intended to encourage students to understand not only Deposit Insurance information, but also to gain a broad understanding of the financial system and how it works; and the importance of managing money and making better financial decisions. This initiative supports the Corporation’s commitment and thrust towards the development of a comprehensive financial literacy programme and for expanding financial inclusion.
His Worship the Mayor Councillor Glendon Harris, Mayor of Montego Bay stated that the competition will motivate youths and make them more economically aware. “This competition will add greatly to our ability to improve the financial knowledge of youth, and eventually the country can benefit from a more proficient, economically aware populace”, the Mayor stated. He further emphasized that the JDIC, through the competition, will have an opportunity to make a life-long impact on the lives of our youth.
Guest Speaker and President of the Montego Bay Chamber of Commerce, Ms Gloria Henry noted that the launch of the online android financial education competition/game should resonate well with technologically savvy students. She lauded the JDIC for introducing the students to the financial system and how it works.
“When you have that knowledge [of the financial system] you can make wise and sound decisions for yourselves. You are not too young to start saving and understanding how the financial system works”, Ms Henry emphasized, while pointing out that “not understanding the system is a recipe for perpetual poverty”.
Chief Executive Officer of the JDIC, Ms Antoinette McKain in detailing the competition explained that it is very interactive with voice and pop-up messages designed to capture the attention and imagination of the students and test their knowledge as they play the Game. She added, “students with the highest score at the end of the three month competition will receive first, second and third place prizes of $75,000, $60,000 and $40,000 respectively, in each county. Additionally, the JDIC will donate a computer to the top school with the highest score in each county”. The JDIC CEO further advised the students that while the prizes are attractive, focus should be on learning and application of the knowledge, as this is key. Further, she encouraged the students to share the information with their friends and family.
The Game can be accessed from the Corporation’s Facebook page as well as the website at www.jdic.org or downloaded from the Google Play Store. The Competition began on January 29, 2016 and runs until April 29, 2016. The Competition has received the full endorsement of the Ministry of Education.
The JDIC was established in August 1998 under the Deposit Insurance Act. The principal objects of the Corporation are to establish and manage a Scheme for the insurance of deposits. In so doing the Corporation is also charged with the responsibility to promote and inspire financial system confidence and stability.