Published and draft legislation - Colombia

Economic and Financial Literacy Commission

Decree 457/2014

Economic and financial literacy is one of the top priorities of the Colombian government. As in other countries in the region (Uruguay and Peru, for example), a National Commission is being created under this law, comprising various influential public-sector bodies, such as the Ministry of Finance and the Colombian financial supervisor, as well as private-sector entities. Its mission is to establish policy, guidelines and tools for implementing the National Strategy for Economic and Financial Literacy.

The involvement of financial institutions in this Commission is vital to its success, given their accumulated expertise and knowledge and their ability to measure the effectiveness of the economic and financial literacy policies established by this Commission. Also noteworthy is the progress in financial inclusion, opening up access to finance for a segment of the population traditionally at a disadvantage and not catered to by the financial system.