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Financial literacy programme to enhance importance of financial documentations

10 Dec 2019 / 16:33 H.

KUALA LUMPUR: The government’s national plan on financial literacy will help more people to understand the importance of financial management and documentation, the Dewan Negara was told today.

Deputy Finance Minister Datuk Amiruddin Hamzah (pix) said the government realised that many people still do not know about financial management.

“That’s why we have the financial literacy programme, we hold massive campaign, so that (financial) documentations can be provided when required to obtain funding,“ he said at the Oral Question and Answer session today.

He was responding to a supplementary question from Senator Asmak Husin’ on steps taken by the government to raise public awareness on the importance of income documentation to enable them to own a house.

Amiruddin said financial documentation was also important as some people do not understand the financial markets and the banking operation.

“As proposed in the 2020 Budget on the ‘rent to own’ scheme, for those who have problems to raise enough funds for house deposit ... with this scheme, they can still own a house, by first renting it,” he added.

Prime Minister Tun Dr Mahathir Mohamad had on July 23 launched the National Financial Literacy Strategy 2019-2023, which sets out priorities and action plans to equip Malaysians with the knowledge to make informed financial decisions, as well as promote healthy practices in financial management. — Bernama

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