World Savings Day

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The World Savings Day takes place every year in the last week of October. The idea for this day goes back to the 1st International Savings Bank Congress (First International Thrift Congress) in October 1924. Originally dedicated to promoting the idea of saving, the character of the World Savings Day has changed significantly in parts of the world in the past. In some of the original founding countries, the day no longer matters. Especially in developing and emerging countries, however, the so-called “World Thrift Day” is also gaining in importance in the 21st century and reflects the increasing awareness of financial education and education.

History of World Savings Day
In Milan came from October 26 to 31. In 1924, at the invitation of the Cassa di Risparmio di Milano, a total of 354 delegates from 27 countries attended the First International Thrift Congress. Among other things, it was decided to establish the International Savings Banks Institute (now the World Savings and Retail Banking Institute). The final day of the congress was declared “World Thrift Day” by Italian Professor Filippo Ravizza and later Director of the International Savings Banks Institute. The 2nd resolution of the Congress placed the World Savings Day under the guiding principle

“Not a day of rest, but of work and conduct inspired by the ideal of Thrift with the view to propagating its principles by example, by word and by pictorial demonstration.”

Countries involved in the World Savings Day initiative included:

Argentina, Australia, Belgium, Brazil, Bulgaria, Chile, Denmark, Germany, Finland, France, Greece, Great Britain, Italy, Japan, Yugoslavia, Latvia, Luxembourg, Netherlands, Austria, Poland, Romania, Sweden, Spain, Czechoslovakia, Hungary, Uruguay, USA.

Invitations to the Congress also received representatives from:

Estonia, Ireland, Norway, Portugal, Cyprus, etc.

The first World Savings Day was celebrated by the European savings banks on 31 October 1925. Although celebrated as an international date, preparation and implementation were largely left to the national savings bank associations. For the International Savings Banks Institute in the early years, the focus was on the spread of the world savings day and savings idea. For this, even a request for help to the Pope was discussed. After the end of the Second World War, the World Savings Day experienced its heyday from the 1955s, but has lost its importance in the past 30 years.

In the meantime, it has almost completely disappeared in some countries. Under the auspices of the Sparkassenstiftung für internationale Zusammenarbeit, however, its importance is growing in emerging and developing countries. For example, World Savings Day has been published in recent years in:

Azerbaijan, Georgia, Mexico and Mozambique

imported.

The World Savings Day will be held today in general on October 31, in Germany