October 31 - International Day of Savings
On October 31, International Savings Day is widely celebrated every year in several parts of the world. On October 27, 1924, representatives from 29 countries gathered in Milan, Italy for the first International Savings Bank Congress. The Italian Professor Filippo Ravizza declared this day the "International Saving Day" on the last day of the congress.
World Savings Day, or World Thrift Day as it was also called, was established to inform people all around the world about the idea of saving their money in a bank rather than keeping it under their mattress.
A theme often used throughout its history is saving money to gain a higher standard of life and to secure the economy. Examples include in Spain where the first national thrift day was celebrated in 1921. Today, countries all over the world continue to celebrate the day. Established in 1934 in Milan, Italy, during the First International Savings Bank Congress where representatives of 29 countries met, World Savings Day was originally created to promote the idea of being thrifty all over the world. In fact, the original name was World Thrift Day!
Countries all over the globe have had different types of promotions in observance of World Savings Day. Advances in production techniques and technology, development of professional skills of employees, improvement of labor tools create conditions for saving working time. Any savings ultimately translates into savings in operating time. The economy of different types of shrimps is also important for the economic development of the country.
65 years later, in 1989, International Savings Day was officially established by the United Nations. In some countries, special savings banks also operate.
International Savings Day is celebrated on October 30 in some countries.
Mahriban MAMMEDOVA,
the 1st year student of
the Faculty of International
Economic Relations of
the Institute of International Relations
of
the Ministry of Foreign Affairs of Turkmenistan.