. once again, we are talking about governance as a precondition for change to occur. financial education i have highlighted how society ’ s demands with regard to banks ’ behaviour with customers have increased considerably. this awareness also reflects the difficult economic and financial context in which we have been moving. evidently, financial end - consumers, especially individuals, are the weakest party in the customer - bank relationship. 4 hence the importance of banks behaving irreproachably when it comes to advice to customers to engage their services. however, we should acknowledge that the starting point is a significant shortfall in financial knowledge among citizens, a fact that may have been conducive to erroneous decision - making. evidently, to be able to take an economic decision properly, a customer must be in full possession of all information and capable of understanding the implications that may arise in the future from what is to be signed. for instance, the consequences of taking on a variable interest rate throughout the life of a 30 - year loan need to be understood, and variable income must be assumed to be so - named because of its variability. admittedly, the younger generations are facing growing challenges arising from labour market aspects. these include the lack of job security, the need for flexibility and mobility, and property market developments. they are also especially affected by the structural changes in society, such as increased life expectancy or the reduction in the birth rate. this all involves the need to plan carefully for the future. we should not forget that education and financial knowledge are essential for improving financial inclusion. clearly, digital transformation may help in this respect, especially in remote or thinly populated areas. however, this poses a new challenge for users with little prior experience with digital tools, or with little financial knowledge, as they will not be given personalised advice when engaging services. mirroring what i have said, concern over citizens ’ level of financial knowledge has been increasing in recent years. in developed and emerging countries financial education is viewed today as an essential element of stability and balanced economic development in society. on oecd recommendations, many countries have developed national financial education strategies. in spain, since 2008, the financial education plan has been rolled out by means of a collaboration agreement between the cnmv ( national securities market commission ) and the banco de espana, subsequently entered into also by the ministry of the economy and enterprise. we consider these efforts to be essential and wish to boost them further in the future. it

caleb m fundanga : campaign to keep zambia clean and healthy opening remarks by dr caleb m fundanga, governor of the bank of zambia, at the review walk of the “ keep lusaka clean, green and healthy campaign project ”, lusaka, 17 september 2009. * * * the acting minister of local government and housing, hon bradford machila his worship the mayor of lusaka, his worship robert chikwelete the chairman of the baz, mr saviour chibiya chief executive officers of commercial banks distinguished invited guests members of the press ladies and gentlemen i am honored to officiate at this important occasion at which banks have undertaken to conduct a review of the “ keep lusaka clean, green and healthy campaign ”. hon minister, as you are aware, the “ make zambia clean and healthy ” campaign was launched by the government in 2007 and was aimed at keeping our surroundings clean and green in order to improve the health standards throughout the country. you may wish to know that the banking sector through the bankers association of zambia and the bank of zambia commenced work immediately after the national launch. a project committee was formed and each bank including the boz embarked on implementing the campaign by making financial contributions. to ensure a uniform landscape on all islands along cairo road, a single company was employed to carry out landscaping and maintenance works including maintaining and keeping the pavements and gardens clean and green. the programme also included placing dustbins along the pavements and ensuring that the street lights were repaired and lit. it is highly gratifying to see how much work has been accomplished and i am sure that the results are clear for all of us to see today. this initiative, ladies and gentlemen, is one sure way of inculcating and promoting a culture of cleanliness amongst our people. it is also an effective way of expressing our corporate social responsibility. beautiful and clean surroundings also go a long way in complementing government ’ s efforts of developing tourism. in fact another dimension of the initiative required that all banks including the boz maintain and keep their offices and surroundings clean at all times. in this regard, we at the bank of zambia have introduced regular inspections of offices while ensuring that all staff are aware of their responsibilities towards the clean campaign. furthermore, by keeping their premises or business environment clean, banks provide the satisfaction that customer need. you would all agree with me that a business done in a clean environment leave the customer totally relaxed and in good spirit, prompting another visit in future