Citi Foundation and Injaz Lebanon launch JA banks in action across Lebanon's schools

Thanks to Citi and Injaz-Lebanon, a member of Junior Achievement Worldwide, Banks in Action an eight session program, has come to high schools in Lebanon starting with Omar Bin Khattab and Khaled Bin El Walid Al Makassed High Schools in Beirut.

In 2007 the Citi Foundation announced a grant in excess of $2m to JA Worldwide to launch an improved version of JA Banks in Action, a high school program which teaches students about the banking industry. The program has so far reached 63,000 students in 34 countries around the world and 19 U.S. cities. Initially developed in Latin America, JA Banks in Action has been adapted for use in Lebanon, and provides high school students the opportunity to learn about the many facets of the banking industry.

A truly international program, the Banks in Action program aims at educating high school students about the banking industry and career opportunities in this sector through virtual simulations and competitions in which teams of students assume the role of bankers and make banking decisions.

Through online computer simulation, students form groups to operate a bank and get confronted by a set of challenging situations experienced in the real banking sector. Students make banking decisions and choices that would, in turn, affect their banks survival and success.

To win the competition, they must set interest rates on funds for short and long-term deposits and loans to attract savers and borrowers, and determine how much to invest in marketing, research and development to lower the cost of operations. The most successful student bankers are those who create a winning strategy to best serve their customers, manage their bank's assets and liabilities, and increase their profits.

One student at Khaled Bin El Walid School, who took part in the sessions, said:

"Thanks to Banks in Action program, I learned how to manage my money and how banks operate. I know more now about the banking industry and the career opportunities in that field. I have changed my mind about my major; I want to be a banker."

Mr. Ghazi Khattab, principal of Omar Bin Khattab Makassed school said: "We thank Injaz Lebanon for giving our students the opportunity to be exposed to an important subject newly introduced to the Lebanese youth: "Banking ", the sector that generates important income to the country. Citi volunteers highlighted the importance of the banking industry and emphasized on the beneficial role it plays in the Lebanese economy. Last year Injaz Lebanon introduced to our students the concept of creating and operating their own company. We hope that Injaz will be delivering more programs in our school. This is what Injaz truly does: encourage the youth to actively participate in their economy and link theory to practice. Thank you Injaz Lebanon and thank you Citi."

"I am pleased that Banks in Action has been launched in Lebanon where the banking sector is an important employer and where banking assets are more than three times the size of Lebanon's GDP. Financial literacy is a critical life skill for young people in today's global economy and I am impressed with the enthusiasm demonstrated by the students of Omar Bin Khattab and Khaled Bin El Walid Al Makassed High Schools that have taken the program," said Walter Siouffi, Citi's General Manager for Lebanon .

"We're delighted to also have Citi Lebanon staff members participate in delivering the program and I look forward to leading a session in the fall."

Kamal Katra , Chairman of Injaz Lebanon said "Banks in Action is a very promising program. In fact when I read it I thought it is among the best programs that Injaz will have in Lebanon, especially since the banking sector is among the largest in the country. Our students will benefit a lot if they study this program. It will give them a summary of how banks operate. I take this opportunity to thank Citi for sponsoring this important program".