BASBF receives BMDA international award for promoting financial literacy


Today, on the 8th of October, 2021, during the 19th Annual Conference of the Baltic Management Development Association (BMDA) BA School of Business and Finance receives an evaluation award for a significant contribution to the promotion of financial literacy in Latvia. 

BMDA is a regional management development network, initiated by universities, business schools, individual professors and business professionals from the Baltic and other countries. BMDA currently unites 70 members from 27 countries – Austria, Belarus, Belgium, Croatia, Denmark, Estonia, Finland, France, Georgia, Germany, Italy, Latvia, Lithuania, Montenegro, Norway, Poland, Portugal, Republic of Kazakhstan, Russia, Slovenia, Sweden, the Netherlands, Ukraine, United Kingdom, USA.


Photo: At the 19th Annual Conference of BMDA – announcement of the “Significant Impact Award”

Since its establishment BA School of Business and Finance (BASBF), Latvia demonstrates both commitment and contribution to the development of future oriented strategies in finance and business management on national and international level. In 2012 when OECD announced the financial literacy project globally, BASBF undertook an active social position in the development and implementation of “Financial Literacy Strategy for Latvia 2014-2020” together with experts representing the field of finance and economic education.

Rector of BASBF Līga Peiseniece:

I would like to thank BMDA for our  recognized contribution towards the development of financial literacy in Latvia! The award is important appreciation of all our staff, students and partners! We timely respond to the needs of smart society who knows how to learn and spend the money!  I would like to express my acknowledgement  to my colleagues who are committed to  work for the community to develop Latvian Financial  Literacy Strategy 2021-2027! The award is recognition of all the lecturers who provided lectures about finance in secondary schools as well as  the researchers who continue surveys  related to the topic of financial literacy. Mission of business schools is  to educate not only individuals but the whole society. The award  demonstrates the impact  on the society that has been made in Latvia. Our next mission is to educate society on how to deal with social engineering  risks in the world of finance. I believe that our academic experts in finance and cybersecurity will contribute.

Photo: 19th Annual BMDA Conference 08.10.2021, President of BMDA Virginijus KUNDROTAS (Lithuania) and rector of BASBF Līga Peiseniece (Latvia)

Moreover, BASBF has launched a research project “Financial Education – Leveraging the Efficiency in Schools” which left a great impact on secondary school curriculum regarding the financial education.

In 2018 BASBF in cooperation with Riga Technical University launched a joint interdisciplinary study program “Financial Management Information System” which aims to prepare highly skilled specialists in both IT and finance.

More about the experience: Application for BMDA Award_BASBF_2021.