Schooling children in financial literacy





Children from Chow Kit Foundation exploring the many interactive activities at the museum.

Children from Chow Kit Foundation exploring the many interactive activities at the museum.

ALLIANZ Malaysia observed Global Money Week by conducting a financial literacy programme, themed “Learn.Save.Earn” for 120 Standard Four and Five pupils at SK Bandar Tun Razak 2, Kuala Lumpur.

The schoolchildren participated in a quiz to gauge their financial knowledge and were later given a lesson on differentiating between needs and wants, recognising tools used in advertisements and learning about the different buying criteria that influence decision-making as consumers.

Global Money Week is a global money awareness campaign led by Child & Youth Finance International (CYFI), a non-profit organisation based in Amsterdam, the Netherlands, which raises awareness of the importance of financial education and financial inclusion for children and youths.

For Allianz Malaysia, the celebration of the event is an extension of the company’s financial literacy initiative to nurture responsible and financially fit youths. The initiative is part of its core corporate responsibility.

Group photo of the Chow Kit Foundation teachers and children.
Group photo of the Chow Kit Foundation teachers and children.

Besides its most recent school programme, the company also organised an excursion to the Bank Negara Malaysia Museum and Art Gallery for 64 children and youths from Chow Kit Foundation and Harapan Selesa Welfare Association Kuala Lumpur and Selangor. The children learnt how to make banknotes when they visited the Children’s Gallery and enjoyed the tours of the Art, Numismatic, Temporary, Economic and Islamic Finance Galleries.

Allianz Malaysia’s head of Allianz4Good, Ng Siew Gek, said the company carried out financial literacy programmes in schools all-year round.

“And being part of Global Money Week over the last seven consecutive years has enabled us to highlight the importance of financial education among young people by incorporating fun elements around the topic.

“Many young adults these days are struggling with large amounts of debt, which affects their development and well-being. Most of them are not prepared for that unforeseeable rainy day.

“We hope that through our initiatives, we are able to encourage children to develop a keen sense of money manage­ment and sound financial habits from a young age,” added Ng.