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Cyprus Banks Step Up Financial Education As Economic Pressures Persist

The Association of Cyprus Banks (ACB) expanded its financial literacy initiatives during 2025 and the first half of 2026, supporting Cyprus’ national strategy for financial education amid continued economic growth and pressure on households.

In an article published by its online publication Banking Insight, the ACB said its programmes complement the National Strategy for Financial Literacy and Education coordinated by the Cyprus Financial Literacy and Education Committee (CyFLEC), chaired by the Central Bank of Cyprus. The association contributes trainers, expertise and educational materials for students, young adults and other groups.

Financial Education Expands In Schools

Cyprus recorded real economic growth of about 3.5% in 2025, while unemployment fell to historically low levels. Employment increased particularly strongly in construction, tourism and professional services, although labour shortages and greater reliance on foreign workers remained challenges.

At the same time, lower inflation eased some pressure on household budgets, while public finances remained stable and investment continued under European recovery programmes focused on digitalisation and sustainability.

Against that backdrop, financial literacy has become a greater policy priority. Since 2025, financial education has been incorporated into secondary schools, covering practical topics such as budgeting, saving and responsible borrowing. CyFLEC is coordinating the wider strategy for young people, adults and vulnerable households.

ACB Focuses On Practical Skills

The banking association has developed several programmes to make financial education more practical. Its “More than Money” initiative uses workshops and classroom exercises to teach secondary school students about budgeting, saving and responsible financial decisions.

For young adults entering the workforce, “Economics for Success” covers employment income, taxation, loans, basic investment concepts and long-term financial planning. ACB also participates in the European Money Quiz, which uses a competition format to test students’ knowledge of banking, personal finance and European economic concepts.

According to the association, these programmes are designed to give participants skills they can apply to everyday financial decisions rather than focusing solely on theoretical knowledge.

Housing And Labour Shortages Remain Challenges

The ACB’s assessment also points to several pressures facing Cyprus, including housing affordability, labour shortages and external economic risks. Migration, housing costs and economic modernisation are likewise reshaping the country’s social and economic environment.

A coordinated approach to financial education could help households make more informed decisions and strengthen their ability to manage future economic pressures, according to an assessment published by ACB Finance and Operations Department manager Vasso Michaelidou.

For Cyprus, the expansion of financial education comes alongside broader economic changes, making practical knowledge about saving, borrowing, taxation and long-term planning increasingly relevant to households and younger workers.

Esports Must Put Children’s Rights Ahead Of Competitive Ambitions, Report Says

Competitive gaming can help children build skills, find community and pursue achievement. However, as esports grows, young players face health, psychological and online safety risks, often without consistent safeguards, according to a new report from Save the Children.

The report, Protecting Child Rights in Esports, estimates that up to 300 million children worldwide participate in esports. It calls on the industry to prioritise the rights set out in the United Nations Convention on the Rights of the Child over competitive ambitions.

Potential risks include disrupted sleep, musculoskeletal pain, anxiety, depression, sexism and online harassment. Intensive training can also leave less time for education, family and friends.

“Esports offers exciting opportunities for children, but participation should never come at the expense of their rights, wellbeing or development,” said Theo Toresson, a psychologist and gaming expert at Save the Children.

Children must be treated “as children first and competitors second”, he added, calling for their involvement in decisions that affect them.

Training Standards Remain Uneven

The report highlights the lack of widely established standards for training hours and methods. Extended periods of sitting, insufficient breaks and schedules that interfere with sleep, exercise and schoolwork can affect young players’ health and development.

Poor posture and long sessions may also cause neck, shoulder and wrist pain, while late-night gaming can undermine sleep, concentration and mood.

Although some organisations provide guidance on breaks, nutrition, sleep and hydration, a representative of a national esports federation told the report that this advice often draws on separate studies rather than a centralised set of guidelines.

The report also notes positive findings: many professional esports players report satisfactory levels of physical activity, and higher-ranking players often place greater emphasis on fitness.

Online Harassment Adds To Mental Health Risks

Gaming communities and livestreaming platforms can help young players build connections and public profiles, but they may also expose them to cyberbullying, discrimination and privacy violations.

An analysis cited in the report examined chatrooms across 302 gameplay segments involving the 20 most popular Twitch streamers. It found sexist language in 62% of streams, racist language in 37%, ableist language in 84% and violent language in 97%.

Some esports federations and teams require staff to receive mental health first-aid training, but the practice remains uncommon. Young competitors may also face public scrutiny through livestreams, interviews and social media before they have the support to manage it.

Safeguards Must Extend Beyond Gameplay

The report raises further concerns about unequal participation linked to gender, race, LGBTQIA+ identity and disability. It also highlights children’s limited involvement in decisions affecting them and the risk of economic exploitation by teams, agents or parents, particularly where contracts lack transparency.

Inadequate supervision at live events presents additional risks.

Save the Children argues that protecting young competitors requires more than advice on posture and screen breaks. Clear standards, responsible oversight and age-appropriate safeguards are needed to ensure esports supports children’s development rather than putting it at risk.

As competitive gaming expands, the industry faces growing pressure to make children’s rights and wellbeing part of its operating standards.

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