The 15th edition of the European Financial Congress (EFC), one of the most important meetings of the financial community in Central and Eastern Europe, brought together experts from the financial and banking worlds, representatives of public institutions, the media, and non-governmental organizations. The Warsaw Institute of Banking (WIB) was once again a part of the event. Among the key topics of this year's debates were economic education, entrepreneurship, and financial security – areas that WIB has long supported.
Education as the foundation of a safe society
WIB was honored to host a debate entitled "Economic Education in Poland – Lessons from the Past and Prospects for the Future," moderated by Michał Polak, Vice President of WIB. The discussion was attended by experts representing the banking sector, public administration, academia, and the media:
Włodzimierz Kiciński, vice-president of the Polish Bank Association
Dr. hab. Katarzyna Sekścińska, prof. UW, University of Warsaw
Dr. Michał Ziemiak, Financial Ombudsman
Karolina Wysota, Money.pl
The debate touched on topics such as the education system's incompatibility with the realities of the financial market, stereotypes in children's economic upbringing, and the lack of conversations about money in Polish homes. The experts agreed: without developing the right attitudes, practical skills, and values, we will not build a resilient society or a stable financial market.
„"It's clear that after more than 35 years of operating in a market economy, Poles are unable to articulate what kind of economic model this is or how it works. We needn't be bothered to provide details when society doesn't know how the economy and financial sector work. We need to introduce a subject in schools that explains what the economy is," Vice President W. Kiciński emphasized in his statement.
Debate participants emphasized the need for cooperation between various market entities and participants, as well as systemic solutions. Financial Ombudsman M. Ziemiak, among others, emphasized this in his statement: "I wonder if it's possible for education to catch up with the financial market. The financial market will always be faster and more difficult to understand. I wouldn't want to see it as a race, but rather a relay race. The financial market sometimes needs to slow down and ensure some 'explainability' for new products. The relay race requires cooperation.".
Prof. K. Sekścińska emphasized that modern financial education should focus on learning to understand how the financial system works and adopt a flexible approach to a dynamically changing reality. "I feel that the education system will never perfectly keep pace with the financial market. It's supposed to shape how we think, distinguish, and evaluate various financial products. The economic education system is supposed to allow us to adapt more or less quickly to what's happening in the financial market," the researcher said during the debate.
K. Wysota, an economics journalist, focused on the state's role in educating society. While entities such as the media and the banking sector can support this process, they cannot assume full responsibility for these actions. In her statement, she also emphasized the importance of using simple language in communication and adapting messages to the audience's abilities.
„"Victims often come to us and tell their stories. I was surprised that the same people keep coming back, having been duped in a similar way again. Customers need to be more resistant to "new" products that are actually old, just wrapped in new marketing. Education is the role of the state," emphasized K. Wysota, citing her experience as a journalist.
Security and financial literacy
At the invitation of the Leopold Kronenberg Citi Handlowy Foundation, WIB also participated in the debate "Security and Financial Education," which featured Marta Penczar (Center for Strategic Thought), Dariusz Daniluk (PANA), and Waldemar Zbytek, President of WIB. The discussion was moderated by Paweł Zegarłowicz, President of the Leopold Kronenberg Citi Handlowy Foundation.
The discussions focused on challenges related to low levels of economic awareness and resilience to threats, including cyber fraud, risky investments, and disinformation. Participants emphasized that without proper education—not only about products but also about values and goals—it will be impossible to build financial security.
”"I would like to emphasize one thing – that in recent years, a very dangerous trend for Poland's future has been emerging in our research. […] This is what emerges from our research: a decreasing interest in knowledge, skills, and entrepreneurial attitudes," W. Zbytek warned during the debate. In his statements, he emphasized the importance of imparting knowledge and skills, but also of shaping the right attitudes, especially among children and young people. He also referred to the legacy of Janusz Korczak.
He also cited the effects of educational activities carried out by WIB, emphasizing that annually our educational projects, such as BAKCYL, reach over 600,000 young people across Poland. It is among them that the competencies of the future – economic, digital, and social – are shaped.
Economics in Practice with Professor Belka
As part of our presence at the European Economic Congress, we also conducted a nationwide online lesson, featuring Professor Marek Belka, former Prime Minister, Minister of Finance, and President of the National Bank of Poland, as a special guest. Nearly 6,000 students and teachers from primary and secondary schools participated in the lesson. The lesson was held as part of the activities of the National Center for Economic Education.
For 45 minutes, our guest and I pondered: What should "Z" students know about economics? What events in recent decades have influenced our current economy? Is it harder for young people today to enter adulthood? How can we avoid repeating the mistakes of our predecessors when it comes to economic crises? What lessons should we draw from our country's economic history?
The students listened attentively to our guest's experiences, but also wanted to learn the answers to questions that had been troubling them – for example, which of the positions held by Professor Belka was, in his opinion, the most demanding.
PAB WIB research
The subject of a lively discussion during the EKF were also, among others, two research reports prepared as part of the WIB Analytical and Research Program (WIB PAB):
„"The impact of the WFD indicator on the stability of the banking sector", authored by Prof. Błażej Lepczyński, Stanisław Kasiewicz, Lech Kurklinski and Anna Zamojska.
„AI in Finance Through the Eyes of the Polish Consumer”, by Dr. Katarzyna Sekścińska, Professor at the University of Warsaw.
Both reports were met with great interest from EKF participants, and the conclusions from the second report, for those who were not present at the event in Sopot, will be discussed in more detail during the PAB WIB webinar on June 12, 2025.
