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Opening ceremony of the Exchange Simulator educational project for students
The Exchange Simulator project organized by the Kazakhstan Stock Exchange and the Financial Markets of Information Agency IRBIS officially opened at the Kazakh National University named after Al-Farabi on March 28, 2017.
The project is being held for the ninth consecutive year and this year it is timed to coincide with Global Money Week, the world week for financial literacy among children and young people. In 2017, the project is being implemented with the support of the Almaty Mayor's Office.
The general sponsor of the project is the Bank of Astana, and the general partner is Freedom Finance. The partners of the project were Tsesna Capital, Kazkom Securities and Centras Securities. The purpose of the Exchange Simulator project is to increase financial literacy of young specialists and provide them practical skills on the stock market.
"The Kazakhstan Stock Exchange has been actively working in recent years to improve financial literacy and awareness about Kazakhstan's stock market opportunities.Our employees hold meetings with business communities in different regions throughout the year and organize investor interaction training sessions for listed companies," Kairat Turmagambetov, Managing Director for Business Development and a member of KASE Management Board, said.
The Exchange Simulator project was launched for the first time on July 29, 2008. More than 3,000 students have participated in the project over the past years. This year, the number of participants exceeds 1,000 people. The training trading on KASE will open at 9.00 am ALT, March 29, 2017 as part the Exchange Simulator project.
The project will last one month and will be finalized on April 26, 2017. The project’s prize fund amounted to one million tenge.
The winners will be identified by the organizers after the training trading. The winners will have an opportunity to undergo internship with KASE partner organizations.
KASE Exchange Simulator-2017 training project is being held under the auspices of Global Money Week. The Kazakhstan Stock Exchange (the Exchange, KASE) holds the event for the fifth consecutive year as part of the Global Money Week (GMW, World Money Week) project implemented by Child and Youth Finance International (CYFI).
This year, Global Money Week was timed to coincide with the start of the annual large-scale educational project among students "The Exchange Simulator" which is conducted by the Kazakhstan Stock Exchange and the Information Agency of Financial Markets IRBIS. The Global Money Week is the largest international event aimed at improving the financial literacy of schoolchildren and students. GMW's main target audience is children and young people aged 10 to 25. This year, the start of Global Money Week and the launch of the Exchange Simulator project were also marked by striking a gong.
"The sooner a person learns how to set financial goals and effectively spend funds, the more prepared he/she would be to enter the adulthood. Financial literacy will help effectively plan and use your budget, and hence, expand the horizon of possibilities," Kairat Turamagambetov, Managing Director of Business Development and a member of the Management Board of KASE, said at the opening ceremony of the Exchange Simulator project.
About 13,950 organizations (ministries and agencies, central banks, financial institutions, non-governmental organizations), including more than 40 stock exchanges of the world (NASDAQ, Euronext, etc.) took part in the World Money Week events in 2016. About 7 million children and young people from 130 countries participated in 33,000 GMW events.
The GMW campaign is supported by the world's leading organizations, including the Organisation for Economic Co-operation and Development (OECD), UNICEF, UNESCO, etc. World Money Week 2017 was held from March 27 to April 2, 2017.