Malaysia Steps Up Financial Literacy Initiatives

A retirement and financial education initiative was unveiled by the Ministry of Finance in Malaysia, which is targeting members of the Employees Provident Fund.  The first phase of the program will be rolled out regionally in Klang Vallen and the country’s government, which backs the Fund, will partner with a range of other institution to implement the effort in other regions throughout Malaysia.

Bank Negara Malaysia  and Credit Counseling and Debt Management Agency are among the initial partners driving this initiative forward.  Similar to government-supported financial literacy initiatives in other countries Southeast Asian countries, this initiative will be implement in key phases, with each step building on the success of the prior stage of the program.  This region has been particularly active in the financial literacy space during the last 12 months – and many financial education proponents expect to see the number and depth of financial literacy programs in this region to rise significantly in the coming months and years.