Financial Education for the Poor, Training of Trainers Program

Citi sponsored and organized an 8-day ‘Training of Trainers’ workshop that aims to spread basic financial training amongst low-income households. Called ‘The Financial Education for the Poor Project’ or FEP, the program was led by international NGO’s ‘Microfinance Opportunities’ and ‘Freedom from Hunger’ with exclusive funding by Citi Foundation. In line with Citi’s focus on microfinance and financial education, the FEP workshop worked towards improving the ability of the poor to manage their personal finances by disseminating a toolkit of financial education modules for microfinance clients in developing countries like Pakistan. The program was inaugurated by Governor State Bank of Pakistan Dr. Shamshad Akhtar and closed by former Governor of the State Bank D Ishrat Husain.
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Institute of Business Administration:

The Citi Foundation sponsored seminar on “Introduction to Risk Management” organized for students of finance and banking, in collaboration with The Institute of Business Administration, Karachi, (IBA). Funded entirely through a Citi Foundation grant of PKR 1.5 million (US$25,000) this program reinforced Citi’s global initiative to drive financial education programs that assist academic and financial institutions in promoting knowledge and sound management of economics, markets, and financial systems. Scheduled from December 11-23, 2006 during the academic winter break, the program was held at the Center of Executive Education, IBA with 30 students coming in from all parts of the country. The grant money covered all travel, accommodation and general expenses for each of the participants some of whom came from remoter more conservative cities like Sukkur, Quetta, Multan and Peshawer. Nominations were invited from business schools across the country to ensure participant diversity and maximum reach. Seventeen of the thirty students present were female and eight had actually traveled from other cities to attend the seminar.
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Tameer Foundation Trust

In keeping with its financial education agenda, Citi Foundation awarded a grant of PKR 3 million (US$50,000) by way of support to Tameer Foundation for its Community Education & Outreach programme. Established in 2006, under the same banner as the Tameer Microfinance Bank, the Tameer Foundation’s primary goal is spread financial literacy amongst potential microfinance clients. The Foundation aims to correct the lack of awareness of the existence and availability of financial services amongst the ‘unbanked’ classes through nation-wide training initiatives.