The Bank supports Financial Literacy Month 2020 by announcing partnership with Teach for Malaysia to improve financial literacy nationwide.
Recognising the importance of building a money-savvy generation from a young age, HSBC Malaysia has collaborated with non-profit organisation, Teach For Malaysia (TFM) to create the HSBC FUN-nancial Guide, which aims to help children understand personal finance fundamentals in an easy and interactive manner.
The guide was launched in a virtual panel discussion titled ‘Raising Young Money Managers: Finance for Children’, featuring Stuart Milne (CEO, HSBC Malaysia), Loh Ken Ming (Head of Social Business and Special Projects, TFM), Lily Shah (Editor, Parenthood Malaysia), Aishah Sinclair (Radio Host, MixFM) and her husband, Shahnaz Karim (Founder and Leadership & Culture Consultant, The Ripple Effect) who shared their insights as parents educating their children on financial literacy. Representatives from Financial Education Network (FEN) also participated in the session.
Stuart Milne, CEO, HSBC Malaysia said, “HSBC has long supported education around the world with an emphasis on enabling people especially the young to develop the financial skills they need to thrive in the modern world, while using innovation and creativity to generate positive impact. In today’s complex world, financial literacy is key to making more financially responsible decisions. The goal in designing the FUN-nancial Guide is to provide Malaysians from a young age with the tools needed to take charge of their financial life. Our partnership with Teach For Malaysia in introducing the FUN-nancial Guide reflects our commitment to build a sustainable future for the communities we serve, by helping individuals to become more financially savvy.”
As a component of the international bank’s ‘We Can, We Do’ initiative, the introduction of the FUN-nancial Guide ties in perfectly with the Financial Literacy Month 2020 (FLM 2020) by FEN. Expanding on FLM 2020’s theme of “Empowering Financial Freedom”, the virtual panel discussion served as a platform to spark conversations of financial fundamentals and nurture strong values from young, in support of the nation’s five-year financial literacy roadmap. In consultation with child learning and development experts from TFM as well as FEN, the guide was developed with a game-based approach and with real-life scenarios to educate children on financial goals and budgets.
Loh Ken Ming, Head of Social Business and Special Projects, TFM said “At Teach For Malaysia, we believe that every child in Malaysia deserves the opportunity to have access to quality education, which includes financial literacy. We are grateful that HSBC Malaysia is leading the way to drive financial education and we look forward to build a financial literate generation through the FUN-nancial Guide.”
HSBC Malaysia has also worked with two children illustrators, brothers Sheldon (14-year-old) and Emerson Chong (12-year-old) to make the FUN-nancial Guide relatable and engaging. The brothers also played the role of co-hosts and moderators in the HSBC’s virtual panel discussion. Their participation provided their point of view as children of Malaysia.
“We appreciate the opportunity to work with HSBC Malaysia in helping more children to learn money management with our illustrations. It is our pleasure to contribute to the FUN-nancial Guide and we hope that this will improve financial literacy among our peers,” shared Sheldon and Emerson Chong, illustrators of the HSBC FUN-nancial Guide.
“We certainly hope that FUN-nancial guide would be able to enhance the children’s appreciation for the need to save, which serves as the basis for wealth accumulation and preparedness for financial uncertainties. It also gives the parents an opportunity to start a conversation on financial management with their children and cultivate healthy financial habits in an interactive way. Our initiatives in strengthening the nation’s financial literacy is our way of going above and beyond to support local communities,” added Milne.
Stay tuned to HSBC Malaysia’s Facebook page to catch the recording of ‘Raising Young Money Managers: Finance for Children’. To download the HSBC FUN-nancial Guide or to find out more information on this initiative, visit hsbc.com.my/wecanwedo and its official Facebook page for more insights on personal money management and parenting tops on money talk.