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The paper focused on the role of library and information professionals in the provision of financial literacy in developing countries. The highlights of the paper are explanation of financial literacy as a concept, necessity for financial literacy in a depressed economy, role of libraries in the provision of financial literacy in developing countries. The strategies that can be adopted for effective provision of financial literacy were identified which include collaboration with financial institutions; establishing synergy between library and information professionals and successful entrepreneurs, exploring grass root options; collaboration with non-governmental agencies and use of social media platforms. The challenges acknowledged include inadequate knowledge of the workings of the financial system, inadequate knowledge of the financial information needs of patrons and members of the host communities. The study recommends introduction of financial management courses to library science education curriculum, requesting for adequate financial support amongst others.