Ran­jit: Knowl­edge needed to man­age fi­nan­cial re­sources

The Star Malaysia - StarBiz - - News - By P. ARUNA aruna@thes­tar.com.my

PE­TAL­ING JAYA: Malaysians need to pos­sess the nec­es­sary skills and knowl­edge to ef­fec­tively man­age their fi­nan­cial re­sources in or­der to achieve fi­nan­cial well-be­ing, said Se­cu­ri­ties Com­mis­sion (SC) chair­man Tan Sri Ran­jit Ajit Singh.

This, he said, in­cludes the abil­ity to make sound in­vest­ment de­ci­sions, build and man­age wealth, and ad­e­quately pre­pare for re­tire­ment.

Speak­ing at the open­ing of the In­vestS­mart Fest 2017, Ran­jit also stressed on the im­por­tance of fi­nan­cial lit­er­acy among the youths, as the coun­try’s fu­ture lead­ers.

“In this re­gard, SC’s in­vestor ed­u­ca­tion ini­tia­tives for de­vel­op­ing fi­nan­cial and in­vest­ment lit­er­acy among school chil­dren, col­lege and uni­ver­sity stu­dents is aligned with the gov­ern­ment’s vi­sion in de­vel­op­ing our next gen­er­a­tion of in­vestors.

“Im­prov­ing fi­nan­cial and in­vest­ment lit­er­acy in­volves long term be­havioural change – change that is in­spired through multi-faceted and co­or­di­nated ini­tia­tives sus­tained over a pe­riod of time,” he said. There­fore, he said, the SC had en­hanced its struc­ture by set­ting up a be­havioural anal­y­sis unit un­der its Con­sumer and In­vestor Of­fice. In or­der to widen its reach, he said the SC also lever­aged the use of its dig­i­tal chan­nels and so­cial me­dia in­flu­ence such as the In­vestS­mart® web­site, Face­book page and mo­bile app. “The use of these so­cial me­dia tools has been well re­ceived and has gar­nered en­cour­ag­ing re­sponse from Malaysian youth - a sig­nif­i­cant de­mo­graphic which re­mains a key fo­cus of SC’s in­vestor ed­u­ca­tion pri­or­i­ties,” he said.

Ran­jit added that the SC and Bank Ne­gara were also co-chair­ing the Fi­nan­cial Ed­u­ca­tion Net­work to de­velop Malaysia’s Na­tional Strat­egy for Fi­nan­cial Lit­er­acy to en­sure the co­he­sive de­vel­op­ment of the coun­try’s fi­nan­cial and in­vest­ment lit­er­acy pro­grams.

The three-day In­vestS­mart Fest, which ends to­mor­row is an an­nual event aimed at pro­mot­ing fi­nan­cial and in­vest­ment lit­er­acy in or­der to en­hance in­vestor em­pow­er­ment.

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