Launch of National Strategy for Financial Literacy 2019 – 2023 by Financial Education Network

Kuala Lumpur, 23 July 2019

The  National  Strategy  for  Financial  Literacy  2019  –  2023  (National  Strategy)  was launched by YAB Tun Dr Mahathir Mohamad  today.  It is formulated by  the  Financial Education  Network  (FENetwork),  an  inter-agency  grouping  co-chaired  by  Bank Negara Malaysia  and  Securities Commission Malaysia  and  with  founding members comprising Ministry of Education,  Perbadanan Insurans Deposit Malaysia,  Employees Provident Fund, Agensi Kaunseling dan Pengurusan Kredit  and Permodalan Nasional Berhad.

The National Strategy sets out priorities and actionable plans to equip Malaysians with the  knowledge to make  informed financial decisions  and  nurture  healthy attitudes  in financial management.

The  FENetwork  is  committed  to  working  collaboratively  with  individuals,  and organisations across the public, private and non-private sectors to deliver the National Strategy’s  inclusive  and  sustainable  measures. These  will  focus  on  empowering individuals  to manage  money  wisely, plan ahead and invest  for their  future,  and protect themselves from financial fraud and abuse. The  priorities identified under the National Strategy to achieve this are:
• Nurture values from young
• Increase access to financial management information, tools and resources
• Inculcate positive behaviour among targeted groups
• Boost long term financial and retirement planning
• Build and safeguard wealth

The FENetwork is supported by Puan Khadijah Abdullah, appointed since 1 July 2019 as the Director of The National Strategy’s Promotions and Advancement Unit, to drive and lead the effective roll-out and delivery of the National Strategy.
FENetwork  welcomes  and encourages  individuals and organisations  to be  a  part of this  important agenda  in  helping  Malaysians  improve  their financial  well-being  and building a strong foundation for the nation’s financial future.

For more information  on how to contribute,  who  to contact,  or to  download a copy of the National Strategy report, please visit
About the Financial Education Network

Established in 2016, the FENetwork  serves as an inter-agency platform comprising institutions and  agencies  to  increase  the  impact  of  financial  education  initiatives  and  identify  new opportunities to elevate  financial literacy among Malaysians through greater alignment, closer collaboration and a strong focus on impact assessments. Its members include the Ministry of Education  Malaysia,  Bank  Negara  Malaysia,  Securities  Commission  Malaysia,  Employees
Provident Fund, Agensi Kaunseling dan Pengurusan Kredit, Perbadanan Insurans Deposit Malaysia and Permodalan Nasional Berhad.
About the Malaysian National Strategy for Financial Literacy
Vision and Objective To improve the financial well-being of Malaysians and elevate
financial literacy by promoting responsible financial behaviour
and healthy altitudes towards financial management.
Strategic Outcomes The National Strategy focuses on empowering Malaysians to:
  • Save, manage and protect money
  • Plan ahead and ensure a sustainable future
  • Protect oneself from fraud and financial scams
Approaches 1. Establish private-public partnership
Promote  greater  private-public  sector  collaboration  for more impactful implementation of the action plans under the National Strategy
2. Promote effective communicationsUsing  simple  and  consistent  messages  through  various channels with emphasis on digitization
3. Nudge and behavioural change
Encourage  best  practices  and  implement  appropriate policies to motivate good financial behavior
4. Provide access to financial products and services
Ensure  Malaysians  have  access  to  various  financial products and services according to their needs
Strategic Priorities 1.  Nurture values from young
2.  Increase access to financial management information,
tools and resources
3.  Inculcate positive behaviour among targeted groups
4.  Boost long-term financial and retirement planning
5.  Build and safeguard wealth
How you can contribute 1.  Formulate policies to enhance financial literacy
2.  Serve as strategic implementation partners
3.  Develop financial literacy materials and tools
4.  Implement nationwide and/or targeted promotion

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