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New Delhi: With intent to make school students proverbial with the art of understanding and managing money from last 7 years, 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. The International Financial Olympiad, 2019 incorporates application from school students from class 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. Apart from having association with over 1000 schools in India. The team has also expanded internationally by incorporating several schools from Dubai, Qatar, Kuwait and Sharjah.

“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. Knowledge of finance for school students being at a very nascent stage, efforts need to be taken in all perspectives.” Said Kritika Kaushik, National Convenor – International Finance Olympiad and Global Economic Olympiad.

Initially, International Finance Olympiad was being launched in alliance with National Commodity & Derivatives Exchange (NCDEX), The Times Group (Education Times) and the International Institute of Financial Markets (IIFM). Since 2015, Pratham Test Prep has been associated with EconomicTimes.com for providing Financial Content and conducting the Olympiad and Quizzes. Some of the prestigious schools associated with us are: Delhi Public School, R K Puram (New Delhi), Birla Vidya Niketan (New Delhi), Vidyashilp Academy (Bangalore), Welham Boys School (Dehradun), and many more.

The Olympiad is conducted in three rounds. The first is conducted at the school level MCQ round which take place from 1st September 2019 to 15th November 2019. Students scoring above 60% in the first round are then eligible for the regional round that will begin from 16th November 2019 and end on 24thDecember 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 from 6 regions and called to Delhi for on stage quiz completion – IFO conducted for 3 hours to compete for cash scholarship worth Rs. 1.6 lakh and selection of winners.

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. 2 Lakh cash scholarship and become a ‘Financial Literate’ at a young age. Students can participate from Schools or individually through the website www.financeolympiad.in.