KUALA LUMPUR, Nov 13 ― The government plans to intensify further knowledge-based programmes focusing on financial planning done through the concerted effort by Bank Negara Malaysia and the Securities Commission, Finance Minister Datuk Seri Tengku Zafrul Abdul Aziz said.
According to Tengku Zafrul, the government is putting an emphasis on the financial well-being of the youth, especially in Budget 2022 tabled on October 29. Meanwhile, Tengku Zafrul said that a study conducted by MFPC and Universiti Putra Malaysia found a strong desire among young people aged 18 to 29 to achieve personal financial success.
The study, he said, showed financial literacy, financial socialisation, self-control and fintech have a significant positive correlation to as well as direct impact on the financial well-being of youth.