Finance Museums Throughout the World Unite To Promote Financial Literacy Globally

June 7, 2013

Press Contacts:
Kristin Aguilera
Deputy Director, Museum of American Finance
212-908-4695, kaguilera@moaf.org

Sophie Fischman, Cognito
646-395-6300, moaf@cognitomedia.com

New York, NY – On Wednesday, June 19, 2013, the leadership of finance, saving and money museums from around the world will come together for the first annual meeting of the International Federation of Finance Museums (IFFM). The day-long conference will be held at the Museum of American Finance, an affiliate of the Smithsonian Institution, in New York City.

The goal of the IFFM is to provide a framework for greater collaboration among finance museums, facilitating the sharing of exhibits, the exchange of scholarship and scholarly research, and the interchange of information and knowledge. The IFFM conference is meant to inspire innovation in the promotion of financial literacy globally, engaging media, academics, policymakers and industry participants.

According to Annamaria Lusardi, Academic Director of the Global Financial Literacy Excellence Center at the George Washington School of Business, financial literacy is critical to fully participate in today’s society.

“Just as it was not possible to live in an industrialized society without literacy – the ability to read and write – so it is not possible to live in today’s world without being financially literate,” said Lusardi. “Finance museums have the potential to elevate the importance of financial literacy worldwide.”

The IFFM was conceived by the leadership of the Chinese Museum of Finance, the Museum of American Finance, the Museum of Saving in Italy and the Global Financial Literacy Excellence Center. Representatives of finance museums in Chile, The Czech Republic, France, Greece, Mexico, The Netherlands and Poland, among others, will also participate in the inaugural conference.

The inaugural IFFM conference is sponsored by The European Investment Bank Institute and McGraw-Hill Financial.

Museum and Press Reception: The Museum of American Finance will host a reception for conference attendees and members of the press on Wednesday, June 19, 2013, from 5:30 to 6:30 pm, at 48 Wall Street. For media access or additional information, please contact Kristin Aguilera at kaguilera@moaf.org or 212-908-4695.

The 2014 IFFM conference will be hosted by the Chinese Museum of Finance and will review the results of the first large-scale international study to assess the financial literacy of young people conducted by the Organisation for Economic Co-operation and Development’s (OECD)’s Programme for International Student Assessment (PISA).

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