KUALA LUMPUR: Financial literacy efforts still need a lot of improvement, especially at the school level, said Deputy Finance Minister I Datuk Seri Ahmad Maslan.
He suggested that the 'Finance and Entrepreneurship' topic be made into a proper subject, especially in secondary schools to expose and educate young adults on finance management and entrepreneurship before taking the Sijil Pelajaran Malaysia (SPM).
"In a cabinet committee meeting on youths a few months ago, chaired by (Deputy Prime Minister) Datuk Seri Dr Ahmad Zahid Hamidi, the Finance Ministry (MoF) had recommended secondary school to start the entrepreneurship education so that eventually those who only have the SPM, about 60 per cent of them, to have a better livelihood.
"If there is no financial knowledge and financial health, those who only have the SPM will earn a low salary and end up in the B40 group," he said at the Financial Literacy Programme 'Kembara Bijak Wang 2023' (KBW2023) here today.
He said that every year, only 40 per cent of those who passed the SPM will continue their studies to the STPM (Sijil Tinggi Persekolahan Malaysia), vocational or technical, diploma and degree levels and above.
Ahmad Maslan said if they have knowledge in finance and entrepreneurship, the country will also be able to create a nation of entrepreneurs.
He hoped that the National Strategy for Financial Literacy (2019-2023) would continue to increase the level of financial literacy among the people, especially the youths, promote responsible financial behaviour and a positive attitude towards financial management.
The KBW2023 programme, organised for the fourth time since 2019, is the result of a collaboration between the Credit Counselling and Debt Management Agency (AKPK) and HSBC Malaysia aimed at improving financial literacy by taking a digital approach and offering activities as well as fun challenges and experiences.
This year's programme involved 3,202 students from local universities, polytechnics, community colleges and MySkills Foundation. -- Bernama