3rd October 2025 - 4 min read
A multi-agency coordination office hosted by Bank Negara Malaysia (BNM) will be established in January 2026 to strengthen national efforts on financial literacy. The office will bring together representatives from BNM, the Securities Commission Malaysia, the Employees Provident Fund, and the Credit Counselling and Debt Management Agency, providing a central platform to coordinate and monitor financial education programmes across the country.
The announcement was made at the launch of Financial Literacy Month 2025 and the National Financial Literacy Strategy 2026–2030. The new strategy builds on the progress of the 2019–2023 plan and sets out a roadmap to raise the financial resilience of Malaysians in the years ahead.
The strategy was launched under the Financial Education Network (FEN), a multi-agency platform that includes regulators, ministries, and industry players.
Bank Negara Malaysia Governor Datuk Seri Abdul Rasheed Ghaffour said financial literacy is now a fundamental life skill. It enables individuals to plan household spending, make informed decisions on savings and investments, prepare for children’s education, and protect themselves against financial risks.
For young people, financial literacy provides a foundation for long-term financial stability. For families, it strengthens financial security, while for retirees it ensures savings are sufficient for a comfortable future.
Though Malaysia’s economy has remained resilient, challenges such as inflation, supply chain disruptions, and digital scams continue to affect households. Financial literacy is seen as the first line of defence, equipping individuals to adapt spending to their means, avoid risky schemes, and make decisions based on reliable information.
The RinggitPlus Malaysian Financial Literacy Survey (RMFLS) 2025 highlights these challenges. Only 33% of Malaysians save more than RM500 a month, while 39% say they could only survive for three months or less if they lost their jobs. More than 55% report spending exactly or more than what they earn, and 54% feel anxious, frustrated, or embarrassed about their financial situation .
According to the Organisation for Economic Co-operation and Development (OECD)’s 2016 benchmark, Malaysia’s financial literacy level was among the lowest of the countries surveyed. The first national strategy (2019–2023) was introduced in response.
That initiative led to a 13% increase in Malaysia’s financial literacy index, surpassing the international average and narrowing the gap with advanced economies. It also established a strategic network of 45 organisations across the public and private sectors, strengthening the country’s financial education ecosystem.
The new strategy is anchored on three priorities: inclusivity, digitalisation, and monitoring.
Inclusivity aims to ensure that all Malaysians, regardless of age, income, or location, can benefit from financial education. Digitalisation will make learning more accessible and cost-effective, supported by interactive and user-friendly tools. Monitoring will ensure accountability, with clear performance indicators to track progress and outcomes.
The 2026–2030 strategy also highlights Malaysia’s strengths in Islamic finance, with shariah principles of fairness, transparency, and accountability embedded into financial literacy initiatives.
Prime Minister Datuk Seri Anwar Ibrahim stressed that the government wants more Malaysians to benefit from economic growth and financial literacy, not only a small group of elites.
He highlighted that financial awareness is vital in strengthening resilience against economic challenges and preventing people from falling victim to scams or risky investments.
“The country’s economic growth is vibrant and convincing, but we do not want this to benefit only a small elite group. We want it to extend across all communities, including the poor and middle-income groups, by giving them financial knowledge,” he said.
Anwar also launched the ‘Skuad Celik Kewangan’ outreach programme, which will use mobile service vehicles operated by FEN members to deliver financial education directly to communities.
He further urged banks and financial institutions to extend financial education to schools, mosques, and neighbourhoods, making literacy part of everyday culture. Financial literacy, he said, must be embedded in society as part of the effort to build an inclusive and resilient Malaysia Madani.
Abdul Rasheed stressed that financial literacy is a whole-of-nation effort that requires collaboration from government agencies, regulators, the private sector, NGOs, educators, the media, and the public.
He added that the upcoming coordination office at BNM will serve as the central hub for aligning these efforts and ensuring they deliver meaningful impact.
With stronger coordination and renewed focus under the new strategy, Malaysia aims to build financial resilience across society, strengthen protection against risks, and position itself as a regional leader in progressive and innovative financial literacy programmes.
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Samuel writes about personal finance and financial news, focusing on how banking updates, policies, and promotions affect everyday money decisions. He enjoys making complicated financial topics easier to follow. Outside of writing, he spends his time watching TV shows and occasionally convincing himself he will only watch one episode.
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