PARLIAMENT | The government and Bank Negara Malaysia (BNM) would continue to organise educational programmes, with the assistance of government and private agencies, on financial literacy and sound financial management as only six percent of Malaysians have sufficient savings to last six months, says Deputy Finance Minister Othman Aziz.

The data, obtained from a recent study, clearly revealed that the lackadaisical attitude of Malaysians in managing their requirements and the need to address this problem especially against a backdrop of rising cost.

“In order to encourage prudent savings, we will continue to promote financial literacy and sound financial management education among primary and secondary students,” he told Anuar Manap (BN-Sekijang) who asked about the level of consumers’ financial management skills in the Dewan Rakyat today.

Meanwhile, Othman said the establishment of the Financial Education Network in 2016 by Bank Negara Malaysia was aimed at coordinating and driving a national financial education strategy in Malaysia.

The network will work with relevant government ministries, industry associations, consumer groups and other key stakeholders to deliver, monitor and measure financial education initiatives under a coordinated national strategy.

“To date, 363 programmes have been held involving 34,000 individuals and agencies,” he said.

- Bernama