It is not a controversial opinion to say that Bangladesh's education system leaves a lot to be desired. Given just how important a sound educational infrastructure is to prepare our youth for their lives ahead, the sector has long been in need for reform
However, one of the fundamental ways that formal education itself, not just our national curriculum, fails to instill real life skills is by skirting the topic of financial literacy. Most adults know just how much of a shock it can be to start getting paid for jobs for the first time and be slapped with taxes, the hassle of opening bank accounts, and all the other minutiae that comes with earning money.
According to the Organization for Economic Co-operation and Development, young adults between the ages of 18 and 29 usually have the lowest levels of financial literacy. Given that Bangladesh is currently undergoing a demographic dividend, it would not benefit the government to bring existing young adults up to speed with financial literacy but to incorporate it within our national curriculum after a certain grade.
This matter needs government attention and those of relevant stakeholders.
While private banks and other financial institutions have often picked up the slack on this front it should not be upon them to foment financial literacy within our youth. Given that our education system itself has long been in need of sweeping changes, it makes sense to incorporate financial literacy at a curriculum level.
Our nation's middle income aspirations all but require that we equip future generations with sound knowledge of how money works. Not only will this help equip them with knowledge that would help them in the real world, it can also greatly expedite Bangladesh's long-term economic development.
