Aflatoun International will be celebrating World Savings Day on 31 October, during our Global Social and Financial Skills Conference 2019, as the exclusive Dutch partner of World Savings and Retail Banking Institute (WSBI). A dedicated session on the importance of saving money will be held on this day (Day 2 of the conference), where renowned Dutch Economist and President of De Nederlandsche Bank (DNB), Mr. Klaas Knot will speak on the topic, along with other eminent personalities.
About World Savings Day
For more than 90 years, WSBI and its members have spearheaded the celebrations of the World Savings Day annually to promote the virtue of saving money. World Savings Day or World Thrift Day was conceived/created to increase public awareness of the importance of savings both in the context of modern economies and for individuals globally. The core objective is to encourage people to save money in a bank rather than keep it under mattresses or inside safe boxes, money chests or lockers at home. Currently, World Savings Day is observed in more than 80 countries around the world.
Why it’s important
The World Savings Day focuses on the stabilising role played by savings and retail banking in the overall financial system. It evokes some of the ethos of local banks: responsible partners in communities, close to the customers, serving households, small and medium-sized firms (SMEs) and local authorities. The WSBI member banks demonstrate their locally focused approach to banking through World Savings Day activities in the communities that they serve.
A history of the World Savings Day
The World Savings Day was first celebrated on 31 October 1924, during the 1st International Savings Bank Congress (World Society of Savings Banks) in Milano, Italy. The Italian Professor, Filippo Ravizza declared this day as the “International Saving Day” on the last day of the Congress.