Virtual stock market game introduced to students

The Catholic Education Board of Management (CEBM) has partnered with virtual learning company Wizdom CRM Caribbean to introduce a virtual stock market game (VSMG) to secondary school students. The Scotiabank Foundation has donated to the programme.

In a release, CEBM said the VSMG is a 14-week financial education competition designed to expose students through gamification to financial planning and future planning on stock markets.

It said the Scotiabank Foundation's contribution enabled 500 students to benefit from savings, investing and budgeting skills taught by the programme.

The game is approved by the Education Ministry for use in all secondary schools.

CEBM CEO Sharon Mangroo said the VSMG has successfully engaged and appealed to students by using gamification in the financial literacy programme.

“Through practical lessons on legitimate wealth creation, students realise that they can establish goals to attain financial well-being and stability. The Scotiabank Foundation’s sponsorship of students who cannot afford to participate in the programme is a critical step towards reducing the socioeconomic wealth gap in our society."

Director of Wizdom CRM Caribbean Katrina Geetooah said the company is transforming financial education at an early age with cutting-edge artificial intelligence.

“Our VSMG empowers students to participate in TT, Jamaican, and US stock markets via a single integrated platform. Students are enabled to directly own local stocks while experiencing the significance of cross-border ownership in US dollars, perfectly aligned with the UN sustainable development goals, which speak of ensuring inclusive and equitable quality education and promoting lifelong learning opportunities for all.

“Scotiabank's sponsorship represents an invaluable investment in the financial education and future success of these young individuals. This support will empower them with essential financial knowledge and skills, creating a positive impact that will resonate throughout their lives."

Scotiabank TT senior vice president and managing director Gayle Pazos reiterated Scotiabank’s focus on financial education and literacy.

“Financial education is a long-term process. Building it into learning from an early age allows our young people to acquire the knowledge and skills that shape responsible financial behaviour throughout their lives. Their participation in this virtual stock market game teaches them important financial knowledge and saving and investing habits. It can also help improve their academic performance, helping them, and particularly those from under-resourced backgrounds, to overcome challenges and achieve future success.”

CEBM highlighted that financial literacy is an important life skill for young people as increased financial literacy leads to greater resilience during predictable and unpredictable life events. It said learning how to earn, spend, save and invest wisely contributes to overall well-being and stability.