Dr. Pushpa Wood presented three examples of financial education programs: in Timor Leste, for Maori small business owners in New Zealand, and for migrant small business owners. The Timor Leste program, led by the country's central bank and commercial banks, aims to improve financial capability through a national financial education campaign focused on saving. For Maori business owners, the program addresses the impact of culture on managing finances and protecting personal and business assets. The migrant business owner program helps with separating personal and business responsibilities and understanding local business protocols.

1. Presented by Dr Pushpa Wood
Westpac Massey Fin-Ed Centre, New Zealand
OECD-Thailand Seminar on Financial Literacy and Financial Inclusion
Bangkok – 16-17 December 2014

2. Three examples
Timor Leste
Maori small business owners
Migrant small business owners

3. Timor Leste- background
 Led by Banco Central, Timor Leste
 Supported by all four commercial banks
 Financial Education programme part of the
nationwide drive to improve financial
capability
 Staged approach to introduce the
programme

4. Approach
 “Save now for a better future” National awareness
campaign- involving commercial banks and schools to
promote the campaign
 Three key pillars of the programme – Plan, Save and
Protect
 Primary objective – “to encourage people and small
businesses to modify their spending habits and to
increase financial security and stability by saving
more”.

5. Maori small business owners
Impact of culture on managing a
business
Personal loans vs. business loans
Personal assets vs. business assets
Protecting the business

6. Migrant small business owners
 Financial responsibilities vs. legal, ethical and
employer responsibilities
 Relationship between family members as employees
and external people as employees
 Keeping personal and business worlds separate
 Understanding the protocols of the country of
residence & operation