40 student teams participated in Stock Market Learning Competition from 18 universities across Albania, along with one university from North Macedonia. The competition was organized by German Sparkassenstiftung Albania (DSIK) in partnership with Albanian Financial Supervisory Authority (AFSA), as part of their joint efforts to promote financial education among students and encourage participation in the capital markets.
The DSIK has organized this competition for the second year in Albania and North Macedonia is joining for the first time. The competition was designed to promote financial literacy and investment education, highlighting the importance of understanding the capital markets. Stock Market Learning is a stock exchange simulation. For four months, from October until January participating teams were given virtual funds and had the chance to become a broker and use virtual capital to invest in various assets. The objective of the game is to make profitable investments and generate the highest possible returns. The transactions made on the platform are not real, but they are assessed based on actual market prices. This allows participants to invest and gain experience without risk.
On Wednesday 29. March 2023 , the award ceremony took place. The teams were evaluated using two primary criteria: portfolio performance, which gauged the financial success of their investments in various instruments, such as stocks and bonds, and sustainability criteria, which assessed their investments in companies sustainability-oriented. The evaluation resulted in three winning teams for each of the eligibility criteria.
Presented below are the names of the winning teams and universities, ranked in order of the first prize:
Portofolio performance Criteria:
1. Luarasi University
2. Fan Noli University
3. European University of Tirana
Sustainability criteria:
1. New York University of Tirana
2. University St. Kliment Ohridski
3. European University of Tirana
The award ceremony was a hybrid event, with participants joining in person, via Zoom and through a live broadcast on Facebook. It was covered by various media outlets such as Public Television in Albania, Scan TV, Balkan Web; highlighting the importance of financial literacy and investment education among youth.
The following special guests were invited to distribute the awards and congratulate the students on their success: Project manager Mr. Paul Kriews from DSIK Bonn; Deputy Executive Director of AFSA, Mrs. Mimoza Kaçi ; Financial Market Expert Mr. Blodin Çuçi; Dean of Luarasi University Mr. Indrit Baholli Luarasi; and a special participation from the Ministry of Education and Sport, Mrs. Zamira Gjini,General Director of Policies.
The speakers highlighted the importance of financial literacy and investment education in today's world. They emphasized the need for individuals to take control of their financial future and make informed decisions based on their understanding of the stock market. They also acknowledged the hard work and dedication of the participants, congratulating them on their achievements and inspiring them to continue to pursue knowledge in the field of finance.
“You have the chance not only to participate in the Albanian context but you have the chance to participate in something bigger. It is Europe’s biggest stock market stimulation. I think, what is important that you could gain more financial knowledge in a playful way and I think the tool that DSIK is often using is a risk-free environment, so you can learn without facing the real risks on the real Stock Market”
- Paul Kriews, DSIK Bonn project Manager
“During the 5-month period, from September to January when the results were finalized, there was a very accurate simulation with the market, including transaction costs. You should consider this game as a potential future for your career. Consider it not just a game, but also as an alternative source of investment or savings.”
- Blodin Çuçi, Financial Market Expert
“Financial education is an important aspect for young generations in order to change their mindset. Starting with financial campaigns is a key step. Students who take part in this competition, I believe, know how to distinguish between savings and investments.”
- Mimoza Kaçi, Deputy Executive Director of AFSA
During the ceremony, DSIK Albania took the opportunity to introduce their new project manager for Albania, Mrs. Inka Rück, who had been visiting the country for several days with the current project manager, Paul Kriews. Mrs. Rück expressed her gratitude for the warm welcome and congratulated the organization and the students on their efforts. The DSIK team in Albania is pleased to have her as the new project manager and is looking forward to working together and seeing the project's success.
The Stock Market Learning Competition should serve as a reminder to all individuals to aspire towards acquiring financial knowledge and education, and work towards establishing a society where financial literacy is easily accessible to everyone. By investing in financial education, future generations can be equipped with the necessary tools to make informed decisions and contribute to a more equitable and prosperous world.
