BNM es­tab­lishes fi­nan­cial ed­u­ca­tion net­work

The Sun (Malaysia) - - SUNBIZ -

PETALING JAYA: Bank Ne­gara Malaysia (BNM) has set up a fi­nan­cial ed­u­ca­tion net­work to im­prove fi­nan­cial lit­er­acy among Malaysians.

In a state­ment yes­ter­day, the cen­tral bank said it serves as an in­ter-agency plat­form to in­crease the im­pact of fi­nan­cial ed­u­ca­tion ini­tia­tives and iden­tify new op­por­tu­ni­ties for im­prov­ing fi­nan­cial lit­er­acy among the Malaysian pub­lic through greater align­ment, closer col­lab­o­ra­tion and a strong fo­cus on im­pact as­sess­ments.

Mem­bers of the net­work are BNM, Credit Coun­selling and Debt Man­age­ment Agency, Se­cu­ri­ties Com­mis­sion Malaysia, Malaysia De­posit In­sur­ance Corp and the Em­ploy­ees Prov­i­dent Fund.

BNM said that the fi­nan­cial ed­u­ca­tion net­work will work with rel­e­vant gov­ern­ment min­istries, in­dus­try as­so­ci­a­tions, con­sumer groups and other key stake­hold­ers to de­liver, mon­i­tor and mea­sure fi­nan­cial ed­u­ca­tion ini­tia­tives un­der a co­or­di­nated na­tional strat­egy.

“The fi­nan­cial ed­u­ca­tion net­work will play an im­por­tant role in har­ness­ing the re­sources and cre­ative en­ergy cur­rently di­rected at fi­nan­cial ed­u­ca­tion across dif­fer­ent agen­cies to max­imise their col­lec­tive im­pact, while en­cour­ag­ing ad­e­quate cov­er­age of tar­get groups.

“This is ex­tremely im­por­tant to sup­port the in­di­vid­ual’s well­be­ing and fi­nan­cial health of Malaysian house­holds,” said BNM gov­er­nor Datuk Muham­mad Ibrahim.

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