Bank Negara Proposes to Introduce Financial Education in Schools


KUALA LUMPUR, 8 Oct: Financial Education will be incorporated into core subjects in primary and secondary school education as a step forward to raise financial awareness and smart management among consumers in the country.

For the success of the effort, the Assistant Governor of Bank Negara Malaysia, Abu Hassan Alshari Yahya, said that they are currently in talks with the Ministry of Education and related agencies.

“We want awareness of financial management to begin at a young age.

“Starting with basic financial knowledge (Primary School), students will be thought the culture of saving, prudent spending and the importance of investment (Secondary School),” he said.

He said this after launching the Prudent Financial Month themed ‘Financial Responsibility Begins With Me’ at Sasana Kijang, Bank Negara Malaysia in the capital yesterday.

Also present was the Vice-President and the Head of Community Financial Services at Maybank, Datuk Lim Hong Tat, and the President of Federation of Malaysian Consumers Associations (FOMCA), Datuk Marimuthu Nadason.

According to Abu Hassan, by year 2014, financial education will be implemented in Primary Schools. Meanwhile for Secondary Schools, by the year 2017.

For starters, financial education will be integrated in the Malay Language and Mathematics subjects for Standard 3 students.

If the trial is successful, Abu Hassan does not rule out the possibility of making Financial Education a core subject in schools.

Subjects that will be covered include money management, credit and debt, as well as protection and insurance schemes.

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