Malaysia launches National Strategy for Financial Literacy 2019-2023

Malaysia's Prime Minister Tun Dr Mahathir Mohamad has launched the National Strategy for Financial Literacy 2019-2023, an initiative led by Financial Education Network, co-led by Bank Negara Malaysia and Securities Commission Malaysia.

It is aimed that developing a capable society that is able to make wise financial decisions free of wrongdoing and mistakes, as cited in his speech.

"I hope more institutions and agencies will be involved in delivering messages on financial education to every level of society so that they literacy level of people's finances can be enhanced," he added.

He noted that efforts to build human capital for financial literacy have been implemented since 2014, such as exposure provided to teachers, and he urges more such initiatives, in which the private sector collaborates with Ministry of Education to diversify these approaches.

Among the activities planned under the strategy, he noted collaborative programmes such as financial carnivals, 'Management of Personal Finance' programme for civil servants (offered through the e-learning portal), and more.

The National Strategy for Financial Literacy 2019-2023 has five strategic priorities:

• Expand financial education fundamentals into the curriculum for pre-school, primary and secondary schools
• Reinforce financial education through co-curriculum activities
• Introduce capacity development and support for teachers
• Encourage financial education advocates among students, parental groups and the community

All images / Securities Commission Malaysia