The Bank of Spain published remarks by Deputy Governor Soledad Núñez delivered at the 20th CECA Awards for Community Welfare Projects and Financial Education in Madrid, where she framed financial education and financial institutions’ community welfare programmes as key tools for household well-being and broader social progress. Núñez highlighted a significant financial literacy gap in Spain, with studies indicating many people struggle to understand financial products, interpret banking terms and conditions, or calculate the real cost of a loan, which in extreme cases can contribute to vulnerability and social exclusion. She argued that financial education should adapt to the digitalisation of financial services and new sector players by adding content on cyber security, digital finance and the circular economy, and that community welfare projects should remain relevant by responding to evolving social needs while focusing on transparency, inclusion and citizen participation and working with public administrations and non-profit organisations.
Bank of Spain 2025-12-17
Bank of Spain Deputy Governor calls for stronger financial education and updated community welfare projects at CECA awards
The Bank of Spain's Deputy Governor Soledad Núñez emphasized the importance of financial education and community welfare programs for household well-being and social progress at the 20th CECA Awards. Núñez noted a significant financial literacy gap in Spain, stressing the need for education to adapt to digital finance and cybersecurity. She advocated for community projects to focus on transparency, inclusion, and collaboration with public and non-profit sectors.