Financial literacy essential living skill for Malaysians

March 26, 2019

KUCHING – In the Council’s efforts to help Malaysians to have basic financial literacy, and a switch on their attitudes and behaviours towards money management, Malaysian Financial Planning Council (MFPC) has organised one-day Financial Literacy Workshop  at Islamic Information Centre here on yesterday.

This is MFPC’s third public roadshow for the year 2019 after organising similar sessions in Johor Bharu and Negeri Sembilan earlier this year.

The core objective of the programme is to help Malaysians make better financial decisions, as data indicates Malaysians lacks successful money management knowledge.

It is of great concern to the Council that 70 percent of Malaysians are below the global level of acceptable financial literacy rate and apart from these series of public programme, a somewhat similar programme is conducted by the Council at FELDA settlements and government agencies.

Central to MFPC’s existence is collaboration, allowing the Council to map a way forward to fund these programmes.

The Council is extremely pleased that this programme has the endorsement of the regulators and the support of Employees Provident Fund (EPF), Inland Revenue Board, Perbadanan Insurans Deposit Malaysia (PIDM), Federation of Investment Managers Malaysia (FIMM) and Permodalan Nasional Berhad (PNB).

According to Mr Michael Kok Fook On, President of Malaysian Financial Planning Council said “By providing Malaysians with basic education about on personal finance and understanding how to manage wealth will significantly contribute to their capability to lead a sustainable lifestyle and indirectly contribute towards our country long-term development”.

As part of MFPC’s digital transformation, a gamification platform will be used during the event. MFPC’s My Money & Me programme has received UNESCO’S honourable commendation.

The award honours MFPC, whom, in addition to achieving outstanding progress in conventional financial planning education, is making a significant and lasting social impact for the various target groups this programme is organised for.

MFPC is poised to make a difference in the lives of individuals, helping to enhance their upward mobility and create lasting and positive change in lives of more individuals with clear coordinated collaboration with our partners in year 2019 through more financial literacy programmes. -Bernama

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