International Bank Day (04/12)

In December 2019, the list of UN World Days and Memorable Dates was supplemented with a new date – - International Day of Banks, celebrated annually on December 4 since the adoption of the corresponding UN Resolution 74/245.

In establishing the memorable date, the UN General Assembly emphasized the recognition of the significant contribution of a number of banking structures to the implementation of the Sustainable Development Program until 2030. The UN recognizes as the institution of the holiday not only the contribution of banks to improving the standard and living conditions of people, but also the enormous potential for further solving the most important problems on a global scale.

One of the most important tasks for the implementation of the Sustainable Development Program has been and remains the fight against poverty in all forms of its manifestation. In this direction, the participation of banking structures plays a huge, if not key role. In addition to poverty, one of the global problems is social and wealth inequality, as well as environmental problems. Solving these problems and overcoming problems are long-term. The UN draws banks' attention to the fact that investing in such long-term projects is vital, despite the fact that the current economic situation is often unpredictable and changeable.

The UN Addis Ababa Program of Action emphasizes that global economic growth may have reached its limit, followed by a decline in rates and worsening problems of poverty and inequality. With its documents, the UN calls on banks to develop measures in advance to eliminate possible risks or reduce their negative consequences.

Overcoming global systemic risks requires states to develop strategies, agreed steps with the support of financial institutions, in which the role of banks is leading.

Addressing national and regional development banks, the UN calls on them to develop comprehensive measures in advance to overcome possible cyclical risks.

In addition to slowing down the pace of economic development, existing risks standing in the way of the implementation of the Sustainable Development Program include extensive trade restrictions, debt risks, capital outflow, economic sanctions, reduced wage growth, and climate change.

It was the important role of banking structures in achieving the goals of the Program for Sustainable Development of the World by 2030 that became the basis for the proclamation of International Banks Day.

An interesting fact is that in Russia, almost on the eve of International Banks Day — on December 2, another, closely related professional holiday — Bank Worker Day is celebrated.



Postcard December «4 — International Banks Day»

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