Agrobank re-launched its flagship special financial management program specifically catered for school students in Malaysia, known as the ‘Program Celik Wang’, with the adaptation of new norms in conjunction with the yearly distribution of Buku Wang Saku and support towards the initiative by Bank Negara Malaysia (BNM) in raising the awareness about financial management and literacy among school students in Malaysia at a young age.
The program, which involves primary and secondary school students from about 800 Agrobank’s adopted schools around Malaysia, is one of the Bank’s efforts in injecting awareness on the importance of prudent money management as well as providing knowledge and guidance on how to use money wisely.
“Financial management literacy at a young age is the crucial element in raising the awareness about the importance of money management among the younger generation today,” according to Chief Development Officer of Agrobank, Aminuddin Amenon.
“This is one of the reasons many youngsters face challenges in managing their finances, until some of them are trapped with debts even at early age of their lives,” he added.
At the event, along with the distribution of money management books known as ‘Buku Wang Saku’, an exclusive 8-minute video produced by Agrobank to support the Buku Wang Saku initiative by BNM was showcased to the audience.
The 8-minute video also featured social media personality and TV host, Dahlia Shazwan who conveyed and shared basic financial management tips, in a relaxed, interesting, and interactive video presentation, complete with the entire module of the programme.
This video will be used as a communication tool by Agrobank which will be shared with its adopted schools to continue its “Program Celik Wang” initiative in a new manner in accordance with the new norm and meet the standard operating procedures (SOP) set by the Ministry of Education Malaysia.
“As a development financial institution with over 50 years of experience in the banking industry, Agrobank believes that such programs can provide exposure to school students on the importance of making wise financial decisions to ensure the well -being of individuals, communities and countries,” said Aminuddin.
“Studies conducted confirms about the importance of financial education at an early age and among its positive effects, are able to shape and promote healthy financial behaviour in the future.
“The position of financial literacy among Malaysians is still low, therefore priority should be given on how to manage their finances and money wisely, this includes on how to control their spendings dan savings that will form the foundation of sustainable financial skills, and this is the model that we have included in the “Program Celik Wang” which emphasises on the ‘3S – Save, Spend & Share’,” he explained.
Agrobank also supports initiatives that inculcate the habit of savings among younger generation, especially among school students through its specially catered product, Simpanan Agro Muda-i, which focuses on children from one-day old to 18 years old. Agrobank currently launched the Young Savers Challenge campaign which runs for one-year from 1 January 2022 to 31 December 2022.
The campaign offers monthly lucky draw prizes with a cumulative prize offer of RM60,000 to 252 lucky winners throughout the campaign period.
As of January 2022, a total of 196,601 customers in the child and adolescent’s category have opened a joint account with Agrobank with a total accumulated deposit of RM 175.15 million.
At the event, guests invite including 25 students of various age and background with about 50 teachers and students from Sekolah Menengah Aminudin Baki, Sekolah Menengah Setiawangsa, Sekolah Kebangsaan Setiawangsa, Sekolah Kebangsaan Setia Alam and Sekolah Menengah Kebangsaan Seri Bintang Selatan attended the launch event.
The session was also showcased virtually on how to apply and practice the 3S concept in their daily lives, either at home or at school. Through this approach, these children will understand the techniques of managing their finances in a simpler and in a more effective way.
The launch of the Agrobank Program Celik Wang which was held in a small capacity to comply the COVID-19 SOP, was officiated by Aminuddin Amenon, Chief Development Officer of Agrobank and Sunita Sulaiman, Analyst Development Financial and Inclusion Department from BNM. The launch, which was held at TGV Cinema, Encorp Strand Mall, Kota Damansara was also attended by parents and media friends.