The Mind Your Ringgit game is yet another initiative rolled out in conjunction with the Financial Literacy Month (FLM 2020… 31 % of Malaysians admit that they are not in control of their finances. In another development, Mohd Shahar said household debt had reached 87.5 per cent of gross domestic product (GDP), while statistics from the Malaysian Insolvency Department showed that 11,800 out of 46,760 individuals, or 25.2 per cent, of bankruptcy cases from 2017-2019 consisted of young people aged below 35 years. Financial literacy, or otherwise known as money management, is not given that much importance and emphasis in the education system of our country. The GroupM media agency picked up the global through a series of local pitches this year. For more information about its priorities and … Low financial literacy hindering homeownership in Malaysia Facebook Twitter “Financial literacy remains low and people somehow don’t fully understand what it takes to own a property,” RHB Bank head of group mortgages and ASNB business Anuar Amin said at a roundtable discussion today organised by the Asian Strategy & Leadership Institute (ASLI) and its Centre for Public Policy Studies (CPPS). The game incorporates financial themes such as digital payments, financial scams, insurance, investments, loans and savings. Opinion 11:33, 14-Oct-2020 Accelerating digital financial inclusion in Southeast Asia ... the Philippines and Vietnam may not be as glaring as it is in Thailand and Malaysia, there are similar challenges that impede the growth of digital financial services in much of Southeast Asia. KUALA LUMPUR, Malaysia, Oct. 8, 2020 /PRNewswire/ -- In conjunction with the World Investor Week 2020, Bursa Malaysia had yesterday hosted a "Ring the Bell for Financial Literacy" ceremony, in support of investor education and protection. Malaysia; Stemming retirement crisis harder if contributors keep tapping into EPF savings, warn MTUC and financial planners. 7th October 2020 2 minute read The Financial Education Network (FEN) has launched the Financial Literacy Month (FLM) 2020 to provide a variety of financial literacy initiatives and programmes for Malaysians throughout … Very informative seminar and a great initiative in providing financial literacy platform. December 15, 2020. The agency is creating a bespoke unit to service the account, worth an estimated US$60 million in annual billings, across 18 markets. 37 % of those who earn less than RM2,000 do not save at all. ---For the full story, pick up a copy of The Edge Malaysia (Sept 14, 2020) at your nearest news stand. Financial literacy is the ability to understand and use various financial skills, including personal financial management, budgeting, and investing. Free Malaysia Today. The five-year roadmap aims to elevate the financial literacy of Malaysians in all life stages – from school children to retirees. The need for financial literacy in our nation has never been greater. Financial literacy… “Financial literacy remains low and people somehow don’t fully … YEAR IN REVIEW: From briefing an agency to reaching Gen Z to social listening, these are the five most-viewed lessons to date in our Crash Course video series, which provides five-minute practical lessons from APAC experts. Its ultimate aim is to intensify financial education to elevate the financial literacy of Malaysians, one of the prerequisites needed to improve their financial well-being. “This situation is very worrying amid the Covid-19 pandemic,” he said. In another development, Mohd Shahar said household debt had reached 87.5 per cent of gross domestic product (GDP), while statistics from the Malaysian Insolvency Department showed that 11,800 out of 46,760 individuals, or 25.2 per cent, of bankruptcy cases from 2017-2019 consisted of young people aged … The Financial Education Network (FEN) has launched the Financial Literacy Month (FLM) 2020 to provide a variety of financial literacy initiatives and programmes for Malaysians throughout October. Learn how to make & multiply money The Mind Your Ringgit game is yet another initiative rolled out in conjunction with the Financial Literacy Month (FLM 2020) in October – an event that is organised by the Financial Education Network (FEN). He said Covid-19 has had a clear impact on global life around the world, further emphasising the importance for the people to take precautions in managing finances amid the pandemic. Financial literacy, and the glaring lack thereof, has been a major issue in many countries in the region as household debt continues to rise amid suddenly burgeoning economies. The game is called Mind Your Ringitt, derived from the acronym MYR, which is the international code for the Malaysian Ringgit. Mind Your Ringgit is also part of Malaysia's Financial Literacy Month 2020. The game is currently in pilot testing with a closed group and is planned for public launch in early 2021. MyMALAYSIA Week 2020 coincides with this year’s 57 th Malaysia Day celebrations, connecting all Malaysians through a platform of financial literacy. Quoting a Malay proverb which means working together through thick and thin in facing the pandemic, he urged FEN and its partners from the public and private sectors to mobilise their energy to realise the goals of the National Financial Literacy Strategy 2019-2023. 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