International Finance Olympiad (IFO) helps to motivate students for better and deeper understanding of financial facts and enhance their skills to manage their daily life. With intent to make young learners familiar with the art of understanding and managing money, International Financial Olympiad, 2019 is being conducted by International Institute of Financial Markets (IIFM) and Economic Times is for students from classes 8th to 12th and the registrations are open till 30th August, 2019. IFO has catered to more than 48,000 students in 162 cities and 5 countries to promote financial literacy for students at school levels in the span of 7 years.
“While as a fundamental part of the socio-educational structure, students complete their schooling without any formal financial education. This not only results in poor personal financial skills but also affects the economy due to the non-structured understanding of the financial subjects. There is a very demanding urgency for every developing country to make financial knowledge a well structured and robust system in the school curriculum” said Kritika Kaushik, National Convener – International Finance, Olympiad and Global Economic Olympiad.
The Olympiad is conducted in three rounds and the first is going to be conducted from 1st September 2019 to 15th November 2019. Students scoring above 60% in the first round are then eligible for the second round (regional) that will begin from 16th November 2019 to 24th December, 2019.
The pattern includes written round, Audio visual round and crossword puzzles in duration of 2 hours. After this, a 4 member team is then selected and called to Delhi for the International Grand Finale. The pattern of the finale is an oral quiz type conducted for 3 hours to select the winner.
Students registering at National and International level competition have an added advantage as they get an Internationally recognized certification at every level and a chance to compete for Rs. 1.6 Lakh cash scholarship prizes including Rs 60000 for School toppers and Rs 1,00,000 for Regional toppers and become a ‘Financial Literate’ at a young age. Students can participate from Schools or individually through the website www.financeolympiad.in.