KUALA LUMPUR, May 17 (Bernama) -- Malaysian Financial Planning Council (MFPC) celebrated its 20^th year in existence with the launch of a basic consumer guide for members of the public. The guide provides an individual overview of the basics of managing personal finance. The basic guide is named after the Council’s award winning “My Money and Me” programme and will be used in all the Council’s financial literacy sessions for the public. The guide will also be made available in other languages and is available on the Council’s website.

20 years ago, the Council was formed at the initiative of the Government through Bank Negara Malaysia (BNM). At our formation in 2004, the then-Governor of Bank Negara Malaysia, Tan Sri Dr Zeti Akhtar Aziz, remarked that as part of the formation of the Council, “All financial professionals should be equipped with financial planning knowledge given the trend towards increased convergence in the financial services industry.” The intention was to have a local Malaysian based designation for conventional and Shariah personal finance. Today, individuals holding our designations are dispensing public advice on personal finance at the Employees Provident Fund, AKPK, and as Wealth Managers at numerous banking groups, among others. The Council’s representative sits in numerous think tanks, Government-led initiatives, Working Groups, and in providing their professional expertise in policy direction.

The Council has 16,973 members across all categories as of January 2024, a testament that the growth has been encouraging. The Council has physically expanded as well. Penang and Sarawak Chapters were established in 2012, and the Johor Chapter was launched in 2016, followed by chapters in Sabah and the East Coast of Peninsular Malaysia, in 2023. In addition, 20 years on, we are proud to note that Memoranda of Understanding (MoUs), Memoranda of Agreement (MoAs), and Collaborative Agreements (CAs) have been signed with no less than 28 institutions of higher learning. Among these are are UPSI, UUM, USIM, UiTM and TAR UMT with RFP/SRFP elements embedded into their curriculums. While our premier financial designations, the Registered Financial Planner (RFP) and the Shariah Registered Financial Planner (Shariah RFP) continue to be much sought after as the gold standards in Financial Planning, our other efforts have also attracted international attention.
 
The Council was an awardee of the UNESCO Wenhui Award’s Honourable Commendation for Educational Innovation through initiatives of its “My Money and Me” a basic financial literacy programme, an initiative that was expanded for FELDA Communities and rural poor, to improve their financial well-being. In recent years the Council’s My Money and Me programme has been recognised as a national initiative for the Global Money Week (GMW) by the OECD. As of 2024, the programme is available on the HRDC’s e-latih platform, making it accessible to any individual who would like to learn the basics of financial planning. In early 2024, MFPC was designated the National Chapter of the UNESCO Entrepreneurship Education Network (EE-Net) for Malaysia for a 3-year period.
 
The financial planning industry has always been a challenging one; more so in the past few years, which have seen unprecedented disruption and uncertainty affecting lives, livelihoods, industries, services, communities and entire countries. Our success story is woven from the threads of dedication, innovation, and unwavering commitment. We will continue to innovate, adapt to change, and pursue our mission, and build on the foundation laid by those who paved the way before us, ensuring that MFPC remains a beacon and key influence for financial planning and Shariah financial planning professionals, in Malaysia and beyond.

Malaysian Financial Planning Council (MFPC)
The Malaysian Financial Planning Council (MFPC) was set up in in 2004 with the objective of promoting nationwide development and enhancement of the financial planning profession. We conduct professional programmes leading to the Registered Financial Planner and Shariah Registered Financial Planner designations. Both qualifications are approved by Bank Negara Malaysia (BNM) as a prerequisite to apply for a Financial Adviser’s Licence and a Financial Adviser’s Representative Licence. The qualifications are also approved by Securities Commission Malaysia for the Capital Market Services Licence (CMSL) application in light of the introduction of the Capital Markets and Services Act 2007.Our mission has extended to include raising the financial literacy of all Malaysians by being at the forefront of efforts to provide financial education to Malaysians from all walks of life. We do this by continuously conducting numerous financial education programmes for the public at no cost, reflecting our contribution and commitment to the positive development of Malaysians and ultimately the nation.

Source: Malaysian Financial Planning Council (MFPC)

FOR MORE INFORMATION, PLEASE CONTACT:
Name: Mohd Farhan Bin Azizan
External Relations, Research and Publication
Malaysian Financial Planning Council
Tel: +6 019 277 3521
Email: farhan@mfpc.org.my

Our website: www.mfpc.org.my 

--BERNAMA