The Ministry of Education has approved a high school money management course developed by **Commonwealth Bank**.
The course – originally developed in the United States but adapted for Bahamian currency, banking practices and lifestyle – teaches students about budgeting, the difference between savings and checking accounts, loans and mortgages, what a certificate of deposit is, how to make money work for them, what capital expansion is, and the meaning of prime rate.
Minister of Education Alfred Sears, in praising the course and commending **Commonwealth Bank**for its good corporate citizenship, also indicated that the Ministry is committed to having the curriculum reflect Bahamian realities and the kind of challenges students will face. He said, *”This course, along with the student savings plan being introduced by Commonwealth Bank, has profound implications for our national development. Knowledge and savings can empower people. With savings, there are implications for entrepreneurship. With savings, we can aspire to more than a job. With savings, we can begin to think about venture capital so badly needed in this country.”*
Director of Education Iris Pinder added, *”It is our responsibility to prepare our students for life and work, and this course will be an introduction to them in the practical application of commerce and economics.”*
**Commonwealth Bank** confirmed its hope that the high interest rate savings plan for college savings coupled with the money management course introduced in government schools this week would provide students with an appreciation for financial discipline. Chairman T.B. Donaldson noted that the programme not only would help students, but that they would likely take the knowledge home and influence their parents. In turn, he said, this would benefit the nation, creating more savings for higher education and economic development.