Launch of Banking for the Future Report
An Indigenous financial literacy report released today highlights a strong need for partnerships between government and businesses to deliver financial support to Indigenous people.
The Banking for the Future Report looks at ways to improve the financial literacy skills of Indigenous Australians, and identifies new, flexible approaches to providing services.
It is essential governments, businesses and communities work together to increase access to financial literacy programs and resources for Indigenous people.
This will help build confidence and skills to improve lives and communities.
The report recommends:
- Improving financial literacy and access to products and services;
- Development of partnerships between financial institutions;
- Development of best practice in financial literacy programs and resources;
- Establishment of a network of Indigenous financial counsellors to share information and provide support and report on key issues for Indigenous people; and
- Development of an online cultural awareness training tool.
The Australian Government will be contributing a further $100,000 to support the continuation of this work.
The Australian Government’s focus on Indigenous economic development is supported by a commitment to lifting levels of education and training, especially literacy and numeracy, providing better health outcomes and closing the gap on Indigenous life expectancy.
Helping individuals and communities achieve economic self-reliance is key to the social and economic development of Indigenous Australia.