Financial: Govt's focus must be on elevating financial literacy after election - MyLIFE

KUALA LUMPUR, Nov 18– The government should focus on elevating financial literacy, eradicating poverty, eliminating corruption and cultivating environmental, social, and governance in business after the election.

The Malaysian Literacy in Financial Education Association, often known as MyLIFE, in making the call, said this would go a long way in guiding Malaysia towards becoming a better nation amid tough economic conditions.

To this end, it was important to provide essential financial education for all Malaysians, especially among the youth and tertiary students, MyLIFE said in a statement today.

It also called on the government to guide and assist Malaysians in rebuilding their retirement fund due to current economic challenges and Covid-19 pandemic.

It said the government should find ways to educate every Malaysian family in enhancing their financial skills and knowledge as well as support business owners in terms of their business recovery and economic growth.

According to MyLIFE, the government also should ensure that Malaysians leaders are responsible in their roles with integrity and avoid corruption and unleash the potential of the younger generation for greater employment opportunities and career paths.

All these strategies would play a major role in terms of economics growth which could lead to greater economic security for all, it said.

MyLIFE was established in 2019 by a group of like-minded professionals who took ownership and proactive action to improve Malaysians financial literacy through education and comprehensive activities.

It strongly supports the Malaysia National Financial Literacy Strategy 2019-2023 and is devoted to assisting in the efficient implementation of the national strategy established by the Financial Education Network (FEN) which is led by the Securities Commission Malaysia and Bank Negara Malaysia.

MyLIFE said it would continuously uphold and engage with the government agencies in enlightehing the policies and national plans.