IslamicFinance.de

The latest OECD Programme for International Student Assessment (PISA) test shows that around one in four students are unable to make financial decisions. Some 48,000 15-year-olds took part in the test, which evaluated teenagers' personal finance skills. OECD Secretary-General Angel Gurria said young people often lack the education, training and tools to make informed decisions on financial matters. Beijing had the highest average score, followed by the Flemish Community of Belgium, Canada, the Russian Federation, the Netherlands and Australia. Students who do well in financial literacy are also likely to perform well in the PISA reading and mathematics assessment. The survey also revealed that, on average, 56% of students hold a bank account, but two out of three students do not have the skills to manage an account.