MEDIA STATEMENT
Kuala Lumpur, 1 October 2024
EPF HOSTS THE LAUNCH OF FINANCIAL LITERACY MONTH 2024
KWASA DAMANSARA, 1 October 2024: The Employees Provident Fund (EPF), as part of the Financial Education Network (FEN), launched the National Financial Literacy Month (FLM) 2024 at Sasana Kijang, Bank Negara Malaysia, today. The event was officiated by the Minister of Finance II, YB Senator Datuk Seri Amir, with the attendance of EPF Chairman Tan Sri Dato’ Seri Mohd Zuki Ali, Bank Negara Malaysia (BNM) Governor Dato’ Seri Abdul Rasheed Ghaffour, along with FEN members and partners.
With the theme “Bijak Wang, Hidup Sejahtera”, this year’s month-long event aims to enhance financial literacy and empower Malaysians with the knowledge, skills, and tools needed to make informed financial decisions. The FLM 2024 focuses on key topics to boost financial acumen, including personal finance management, risk management, investment knowledge, retirement planning, and digital financial literacy with a strong emphasis on scam prevention.
In his welcoming remarks, EPF Chairman Tan Sri Mohd Zuki said, “The Financial Literacy Month comes at a pivotal time amid the fast-evolving demographic transition, economic growth, and the digitalisation of financial services. As new challenges and opportunities arise, financial literacy goes beyond basic budgeting and savings. Individuals shall be empowered to build a financially resilient society capable of navigating today’s complex financial world, managing expenses, planning for retirement, and protecting against fraud.
“It is imperative to strengthen financial education across all segments of society to ensure that individuals, families, and communities are equipped to make informed financial decisions throughout their lifecycle. As part of the commitment to financial education, the EPF along with other stakeholders continue to play a proactive role in providing Malaysians with the necessary knowledge and support in building financial management capabilities for a secure future,” Tan Sri Mohd Zuki added.
The FLM is an annual flagship event organised by FEN, whose members include BNM, Securities Commission Malaysia (SC), Ministry of Education Malaysia, Ministry of Higher Education, EPF, Permodalan Nasional Berhad (PNB), Perbadanan Insurans Deposit
Malaysia (PIDM), and Credit Counselling and Debt Management Agency (AKPK). Throughout October, FEN members and partners will organise nationwide financial literacy activities to support and drive the MADANI Economy aspirations, empowering Malaysians with financial literacy.
One of the key initiatives this month is the FLM2024 nationwide roadshow by FEN’s Skuad Celik Kewangan that brings financial education closer to the rakyat, including financial consumer advisory services by the EPF, BNM and AKPK. Covering over 80 locations across the country, this initiative aims to raise financial awareness and provide essential tools for personal financial management, particularly among underserved communities. These include long-term planning, risk management, and digital financial literacy. Amplifying this effort, participating financial institutions under the Bank Bergerak initiative will leverage their grassroots presence to reach underprivileged communities to deliver financial education directly to those most in need. Special focus will be placed on students from TVET institutions under the Ministry of Youth and Sports, the Ministry of Rural and Regional Development, as well as underserved communities, including the Orang Asli and microentrepreneurs.
In conjunction with this initiative, the EPF will co-host the National Financial Literacy Symposium (NFLS) 2024 from 2-3 October at the same venue, in collaboration with BNM and AKPK. With the theme “Inclusive Financial Well-being – Nurturing Financial Capabilities Across Communities”, the symposium will focus on leveraging evidence-based research to inform effective policymaking and empower communities. The two-day event will feature a blend of panel discussions and research paper presentations by domestic, regional, and international experts, exploring topics related to consumer financial empowerment, as well as risks and opportunities in fostering inclusive and sustainable financial practices, for both businesses and the underserved.
Issued by
EPF Media Desk
Corporate Affairs Department
1 October 2024
About the Employees Provident Fund® (EPF®)
Established in 1951, the Employees Provident Fund® (EPF®) is a social security organisation and one of the leading retirement funds in the world dedicated to protecting members’ savings and delivering exceptional services. Committed to its purpose of building a better retirement future for Malaysians, the EPF has expanded its functions to encompass a comprehensive social wellbeing ecosystem. The EPF remains steadfast in its efforts to continually update and improve its services, ensuring a solid foundation for sustainable, holistic, and equitable wellbeing for all Malaysians.
About the Financial Education Network (FEN)
The Financial Education Network (FEN) is an inter-agency platform comprising of institutions and agencies committed to improving the financial literacy of Malaysians. FEN leverages its members’ expertise and resources to coordinate, co-operate, and collectively drive efforts to promote effective delivery of financial education initiatives to Malaysians in a sustainable manner.