PORT DICKSON, March 23 (Bernama) -- In the Council’s efforts to help Malaysians acquire financial literacy, and make a switch on their attitudes and behaviours towards money management, the Malaysian Financial Planning Council (MFPC) has organised a one-day Financial Literacy Workshop for Members of the Public at Auditorium Pejabat Daerah & Tanah Port Dickson on 23 March 2019 from 9.00am until 4.30pm.
 
The core objective of the programme is to help Malaysians make better financial decisions, as data indicates Malaysians lack successful money management knowledge. The S&P Global Literacy Financial 2014 report indicated that financial literacy in Malaysia is low at 36% compared to 59% in developed countries. The low level of financial literacy, according to Finance Minister Lim Guan Eng, is a reason why many young people are falling into the debt trap and bankruptcy.
 
According to Michael Kok Fook On, President of Malaysian Financial Planning Council, “Malaysians must be made aware that each ringgit should be divided into categories for them to be financially successful. Money does not make one wealthy. It is the application of principles and the proper planning that make up financial intelligence”. This he added will significantly contribute to the populace capability to lead sustainable lifestyle and indirectly contribute towards the country’s long-term development.
 
MFPC has implemented our digital transformation and the gamification application has been a permanent feature in the Council’s literacy programmes. As part of today’s seminar, an interactive session to further help the public gain better understanding of the importance of financial literacy was conducted by The Praxis Company, Southeast Asia’s leading provider of financial literacy gameplay.
 
The gameplay is a unique, fun and unforgettable gameplay experience developed to simulate real-life financial challenges and inspires people from all backgrounds to master money and understand the values of financial literacy. It teaches individuals about the basics of personal finance such as budgeting and savings, as well as other more complicated items such as investing in stocks and financial protection planning through different economic cycles.

 “The uniqueness of the Praxis Gameplay is that it delivers relevant and immediate learnings via simulations of real-life events such as job promotion, personal accidents, changing market condition and loss of income to name a few, where players will then have to carefully make critical financial decisions amidst those opportunities and challenges. Ultimately, what we hope to achieve is to empower people to deal with future financial decisions and quandaries,” said Hemant Doshi, Chief Executive Officer for Singapore and Malaysia, The Praxis Company.

NOTE TO EDITOR:
About:-
Malaysian Financial Planning Council (MFPC) 
 
MFPC is an independent body set up with the noble objective of promoting nationwide development and enhancement of the financial planning profession. MFPC provides an evolving set of Best Practice Standards and Code of Ethics that must be adhered to by Registered Financial Planner (RFP) and Shariah RFP designees. This requirement is aimed at ensuring that the public will be served with the highest quality of financial planning services. MFPC was registered on 10th of March, 2004 under the Societies Act, 1996. The Registered Financial Planner (RFP) programme was launched by the former Governor of Bank Negara Malaysia, Y.Bhg. Tan Sri Dato’ Sri Dr. Zeti Akhtar Aziz in November 2002.
 
The RFP designation was approved by Bank Negara Malaysia (BNM) as the prerequisite qualification to apply for the Financial Advisers’ License and Financial Advisers’ Representative License. RFP designation was also approved by Securities Commission Malaysia for the application of the Capital Markets Services License (CMSL) in view of the introduction of the Capital Markets and Services Act 2007.
 
Please visit: www.mfpc.org.my 

Source: Malaysian Financial Planning Council (MFPC)  ​

FOR MORE INFORMATION, PLEASE CONTACT: 
Name: Syed Mohd Khalil
External Relations and Project Management
Malaysian Financial Planning Council
Tel: +603 62035899
Email: khalil@mfpc.org.my

--BERNAMA