KUALA LUMPUR: MALAYAN BANKING BHD’s (Maybank) Cashville Kidz (CVK) financial literacy programme is set to expand across the region after already being in six countries.
Maybank Foundation CEO Shahril Azuar Jimin said that currently no other financial institution in Asean was running a programme “of this scale.”
“We try to fit in local content with the different countries that we are in, ” he said after the launch of the Maybank Financial Education Excellence Awards 2019.
Launched in 2013 in collaboration with MoneyTree, CVK is a flagship programme under the Education pillar of Maybank Foundation.
According to the bank’s press release, the CVK programme depicts a cartoon series designed to teach school students between the ages of 9 to 12 about the importance of good money management habits to prepare them for future financial challenges.
Shahril said the programme has “touched the lives” of more than 200,000 students in more than 900 schools, exceeding its target of having 50% of participating student improving their financial knowledge.
It is currently conducted in six countries – Malaysia, Cambodia, Philippines, Indonesia, Singapore and Myanmar – and has been recognised as an official Extra Curricular Activity by the Education Ministry.
The programme is a financial education platform that is easily replicated and up-scaled in other countries, Shahril said.
Quoting a survey, he said one in three Malaysians admitted to having low confidence when it came to financial knowledge, while one in five adults had not saved in the past six months.
Additionally, some 80,600 bankruptcy cases have been filed by the Malaysian Insolvency Department from 2015 until August this year.
“We believe in the importance of developing and nurturing good financial habits from a young age, ” he said.
Yesterday’s awards were presented by Maybank chairman Datuk Mohaiyani Shamsudin, president and CEO Datuk Abdul Farid Alias, and Shahril. Also present were members of the Board of Trustees of Maybank Foundation and Maybank board members.