The implementation of the financial education programme takes place through a public-private partnership between the Financial Education Committee (CONEF) and the Association of Financial Education of Brazil (AEF-Brazil). This Association, which obtained the legal status of “organisation of public interest” (Organizagao da Sociedade Civil de Interesse Publico, OSCIP), is a not-for-profit entity founded by the Brazilian Financial and Capital Markets Association (ANBIMA), the Brazilian Federation of Banks (FEBRABAN), the Brazilian Insurance Confederation (CNSEG), and Brazil’s major stock exchange, BM&FBOVESPA. The AEF serves two purposes: it provides a balanced representation of the private sector within the national strategy and allows raising funds from additional private sources, without being a direct expression of specific corporate interests.
Conflict of interests are avoided by the structure of the AEF itself, where corporate interests of single financial entities are diluted through the mediation of industry associations, and by the partnership agreement in place between the financial education committee (CONEF) and the AEF.
The Partnership Agreement between CONEF and the AEF is currently valid for 5 years and renewable. Under this Agreement, CONEF defines and presents the national strategy’s general guidelines annually to the AEF. The AEF is then responsible for the definition of an implementation action plan that it must submit to CONEF for approval. During the implementation phase, the AEF acts as a repository of the information received from schools, allowing CONEF to monitor reports with the results obtained and to establish a general diagnostic of the situation on the ground.