KUALA LUMPUR: A multi-agency coordination office hosted by Bank Negara Malaysia (BNM) will be established in January to improve financial awareness and address growing risks.
BNM Governor Datuk Seri Abdul Rasheed Ghaffour said the office will align financial literacy programmes across agencies, bringing together representatives from the Securities Commission, Employees Provident Fund and the Credit Counselling and Debt Management Agency, alongside the central bank.
He said the move would allow financial education efforts to be carried out in a more structured and impactful way.
The initiative, he said, comes as financial literacy is increasingly viewed as a key defence against rising fraud, online scams, over-indebtedness and poor money management, particularly among young Malaysians and vulnerable groups.
"Financial literacy is a whole-of-nation effort. This responsibility cannot be borne by one party alone.
"Success can only be achieved if the government, regulators, private sector, NGOs, educators, media and the community work together," Abdul Rasheed said at the launch of the National Financial Literacy Strategy (NS2.0) 2026-2030 and Financial Literacy Month 2025 at Sasana Kijang here on Friday (Oct 3).
Prime Minister Datuk Seri Anwar Ibrahim, who is also Finance Minister, officiated the launch.
Rasheed said Malaysia’s financial literacy levels had improved by more than 13% since 2019, but added that knowledge alone was insufficient.
"What matters is how Malaysians put financial education into practice in daily life," he said.
The five-year strategy focuses on three priorities – inclusivity, digitalisation and monitoring.
It aims to make financial education accessible to all segments of society, enhance interactivity through digital platforms and track progress through measurable indicators.
The framework also seeks to highlight Malaysia’s strengths in Islamic finance by incorporating syariah principles such as fairness, transparency and accountability.
"With this spirit of togetherness, I am confident that Malaysia can enhance the financial resilience of its people and, in turn, emerge not only as a regional leader but also as a global reference point in advancing a progressive and inclusive financial literacy agenda," Rasheed said.
