FCAC releases Make Change that Counts: National Financial Literacy Strategy miragenews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from miragenews.com Daily Mail and Mail on Sunday newspapers.
Early financial education for the benefit of youth 14 Mar 2021 / 22:43 H.
EVER since the pandemic has taken a toll on the world economy, talks about financial literacy have been going around more frequently, given the challenging situation involving livelihoods and the critical need for people to have sufficient savings to survive rainy days. This particularly points at youths, who have become more vulnerable economically, and more concerning is their low level of financial literacy. Hence, this calls for practical action plan, and it needs to start from the core foundation of the society – education.
A study conducted by the Organisation of Economic Cooperation and Development (OECD) on 26 countries, including Malaysia, has shown that overall, financial literacy is already at its low. Specifically, youth aged 18 to 29, financial literacy appears to be at a lower level, on the back of poor financial knowledge and less prudent financial behaviour.
21 Feb 2021 / 20:48 H.
IN weathering the unprecedented pandemic crisis which does not appear to be ending anytime soon, people are trying to search for all avenues to make ends meet.
This includes the decision to use up savings under the Employees Provident Fund (EPF) which have been reserved for retirement. Although it is undeniable that empathy for the unfortunate is crucial during these trying times, there still needs to be control or vigilance over this initiative.
As known to nearly all, the idea of one-off withdrawals from EPF Account 1 started last year when it was mooted by some politicians.
It was considered and announced during the tabling of Budget 2021 as i-Sinar but implemented on a targeted basis, only for those who lost their jobs – RM500 per month with a total up to RM6,000 over 12 months.
Over 7,000 students benefit from financial literacy programme thesundaily.my - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thesundaily.my Daily Mail and Mail on Sunday newspapers.
Siti Farzana (Best Student Award)
As part of its continuous efforts to enhance financial literacy in Malaysia, Maybank’s Cashville Kidz successfully reached out to over 7,000 students and some 100 educators from 21 schools nationwide in 2020.
In a year that was hugely impacted by the Covid-19 pandemic, the programme remained focused on increasing the financial literacy level to nearly 40%, surpassing the programme’s initial target of engaging 4,000 students.
Once again, Maybank held its Financial Education Excellence Awards this year to honour educators and students who had displayed extraordinary dedication in promoting and championing financial literacy in the country.
In its second edition, the awards were also aimed at further creating awareness in line with the National Strategy for Financial Literacy 2019-2023.