Financial Literacy Knowledge Transforms Lives

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KUALA LUMPUR, Aug 8 – MFPC rallies the action of the Malaysian government with the implementation of a National Strategy for Financial Literacy which was launched on July 23, 2019, a five-year plan that aims to raise the country’s low level of financial literacy. The initiative has 5 key thrusts and key to the success of the strategy would be successfully implementing financial literacy knowledge for the Kindergarten to Grade 12 (K-12) segment, as well as programmes for Youths and the public generally.

Since its inception in the year 2004 at the Malaysian government’s initiative, MFPC has been conducting numerous financial literacy sessions for the public through its UNESCO commended programme “My Money & Me”. Since the year 2018, the programme has entailed a multi-stakeholder approach mapping a way forward through clear coordinated collaboration with relevant agencies targetting to bring basic financial literacy knowledge to as many Malaysians. In line with this, programmes are held for youths through Majlis Belia Malaysia and the 24 universities affiliated with the Council as well as for FELDA Settlers and individuals at rural areas. In addition, the programmes are also conducted for Civil Servants.

Connecting the bridge of financial literacy to Malaysians is certainly not an easy task and needs collective effort from all stakeholders. At the heart of the matter, we are convinced that such efforts should be continuous and consistent in order for it to be fruitful and the Council hopes its eventual collaborative engagements with Financial Education Network (FEN) would bring about one key goal of people being able to enjoy better financial and emotional well-being by being able to manage, save, spend and invest their money. Vincent Kwo Shih Kang, President of the Council said, “through the establishment of the FEN collaboration framework, Malaysians from all walks of life must be the beneficiaries”. He reiterated that the Council’s is poised to a make a difference with its 13,000 qualified members in alignment with the FEN initiative and raise optimism that the formation of a national strategy would help raise awareness on the importance of financial literacy among Malaysians. He applauds the action of the government on the formulation of a national strategy.

The Council has in recent years delivered game-changing initiatives in educating Malaysians on financial literacy including through gamification methodology. Our goal is simply this, Malaysians must be aware of the essential benefits of financial planning as it could make a lasting social impact for the Country. The Council’s upcoming one day Financial Literacy Workshop for members of the public is at Kolej Poly-Tech Mara (KPTM), Kota Bharu, Kelantan on 24 August 2019 from 9.00am until 5.00pm and at Dewan Hasil Sri Mutiara, Menara Hasil, PJ Trade Centre on 2ndNovember 2019.For more information and to register please visit www.mfpc.org.my 

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