Alliance Bank kickstarts fifth instalment of AEIOU Challenge

05 Sep 2019 / 13:38 H.

ALLIANCE Bank Malaysia Berhad has kicked off season five of its AEIOU Challenge with a much broader coverage of the school system and a brand new digital game.

“The AEIOU Challenge aims to increase the impact of financial education initiatives. This year, we are expanding the programme’s reach to 420 schools from 50 schools previously, and improving the programme to be one that is inclusive, regardless of the children’s drawing skills, with the introduction of the Game Challenge,” said Alliance Bank group CEO Joel Kornreich.

The annual programme comprises financial literacy education and the AEIOU Financial Comic Strip Challenge which is designed to help children sharpen their financial literacy knowledge.

This year’s AEIOU Challenge carries the theme “How smart spending habits help my family build our future”.

To test their knowledge about smart financial habits, children can choose to either participate in the Comic Challenge by submitting their creative comic strip artwork, or compete in the Game Challenge.

A prize pool amounting to RM20,000 in cash awaits winning students of the Comic Challenge and Game Challenge. The school with the highest number of participants also stand to win a prize for their school development fund, while committed teachers who step up to champion this financial literacy education initiative will also be rewarded for their efforts. Alliance Bank aims to double the total submissions received this year to 30,000, surpassing the total submissions combined for the past four seasons.

The Train-the-Trainers initiative will equip school teachers with training and educational tools to champion financial literacy education at their respective schools. This year, the bank plans to enlist 420 teachers for the initiative, and work alongside them to accomplish set milestones.

“We have also expanded our training for the teachers to a comprehensive half-day programme. This is to help train the teachers on financial management topics and

encourage them to carry out their own workshops at their respective schools,” said Kornreich.

The AEIOU Challenge began in 2015. It supports the country’s aspiration of having financially-wise consumers by enhancing the knowledge of Malaysians on good money management. The programme has since grown from strength to strength with the support of Bank Negara Malaysia (BNM) and the Education Ministry.

In 2017, the AEIOU Challenge received two regional awards from BNM for Best Financial Literacy Programme for Primary Schools.

The AEIOU Challenge is aligned with the National Strategy for Financial Literacy 2019-2023, and addresses its strategic priority of nurturing values from young and inculcating positive financial management behaviour.

The submission closing dates for the Comic Challenge and Game Challenge are on Oct 27 and Oct 20 respectively.

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