Finance Ministry recommends creating new finance, entrepreneurial subject at secondary school level

KULAI - The Finance Ministry (MOF) will forward a recommendation to the Education Ministry (MOE) to set up a new secondary school subject relating to finance and entrepreneurship.

Deputy Finance Minister I Datuk Seri Ahmad Maslan said the suggestion was important inensuring the younger generation are more financially savvy and to develop their interest in becoming involved in entrepreneurship, especially at the micro, small and medium (MSME) level.

He added that the Financial Education Network committee, comprising of representatives from Bank Negara Malaysia (BNM), the MOE and the Credit Counselling and Debt Management Agency (AKPK) will hold a discussion and conduct an initial study about introducing the new subject.

"The ministry will recommend to the MOE that the financial and entrepreneurial subject be at the secondary school level from Form One to Six.

"We want the youth to understand the subject in a more structured and systematic manner, as many will reap the benefits if they are financially savvy and have an entrepreneurial spirit in the future,” he said at a media conference after the close of the Johor Financially-Savvy Carnival here today, which was also attended by BNM deputy governor Adnan Zaylani Mohamad Zahid.

Ahmad also said that efforts to create such a subject would help curb scam cases and reduce the number of fraud victims.

The decision to implement the subject at Sijil Pelajaran Malaysia (SPM) level was to ensure that all of the 500,000 students who take the examinations yearly would benefit from it, as opposed to only around 40 per cent who further their studies at the Sijil Tinggi Pelajaran Malaysia (STPM), diploma or degree levels, he said.

"Imagine if the 60 per cent who only have SPM, had the financial knowledge and entrepreneurial skills, it will help them from being pressured when looking for jobs and they will be able to manage their finances well,” he added. - BERNAMA