Banks are forced to teach financial education because the state does not assume this role, says Andrei Burz-Pînzaru, Managing Partner at Reff & Associates, member of Deloitte Legal network, within “The Financial Conference 2019”.

“This financial education impacts banks’ profit and has a knock-on effect on lending,” he adds. “Credit costs rise, and the state can help lower credit costs if it assumes the financial education of the population.”