A Policy Framework for Promoting Financial Literacy in Iran

Objective Financial literacy is widely recognized as a crucial life skill, with individuals in developed countries expected to attain a desirable level of financial competence. This significance is reflected in the fact that more than 60 countries have developed national policies and strategies to promote financial literacy, incorporating specific programs into their agendas. Iran is no exception. Enhancing financial literacy is particularly important given the country's distinct economic, social, political, and cultural conditions. Improving individuals' financial awareness, knowledge, and skills reduces financial errors, strengthens sound financial decision-making, boosts confidence, and aids in achieving financial security and well-being. Furthermore, it can contribute to macroeconomic and social improvements, ensure economic stability, and foster greater public alignment with financial and economic policies. Therefore, it is essential to integrate this issue into the agendas of higher-level policymaking institutions and develop policies to promote financial literacy that are tailored to Iran's unique Islamic-Iranian culture. Methods This study was conducted by collecting policy documents and national strategies from other countries, as well as through semi-structured interviews with experts, specialists, and scholars in financial management, financial literacy, and policymaking. It employs qualitative thematic analysis to explore the main question: What policy framework is needed to promote financial literacy in Iran? Results Research findings reveal that the policy framework for enhancing financial literacy in Iran can be structured around four primary themes, each comprising several subthemes. The domains include: 1. Policy prerequisites: (including legal, financial, executive, and cultural prerequisites); 2. Policy objectives (including educational, economic, and socio-political goals); 3. Policy requirements (including content development, audience analysis, expert cultivation, and evaluation measures); and 4. Policy tools (including traditional, classic, innovative, and supportive-motivational mechanisms). This framework can serve as a blueprint for policymaking in the field of financial literacy enhancement in Iran. Conclusion Financial literacy enhancement programs in any country must be designed in accordance with the country's unique circumstances. Given Iran's unique context, the proposed framework—grounded in international models and domestic expert insights—may guide policymakers in developing effective, localized policies in this domain.