The third and final focus area – building financial capability and elevating financial literacy is a shared responsibility Government agencies, schools, families, workplaces and the financial service industry – all play an important role in building financial capability and elevating financial literacy of our population. This is a long-haul journey and requires significant resources and perseverance by various parties. Hence, inter-agency collaboration -providing various touch points at different platforms – is needed to increase the impact of financial education initiatives for the Malaysian public. This motivates the establishment of the inter-agency Financial Education Network – which was set up in November 2016. Apart from Bank Negara Malaysia, AKPK and KWSP, the Financial Education Network – also comprises representatives from the Securities Commission, Ministry of Education, Ministry of Higher Education, Perbadanan Insurans Deposit Malaysia and Permodalan Nasional Berhad. I believe all members of the FE Network are here today to lend support to this important initiative, and potentially to further boost its impact for the benefit of Malaysians. The FE Network has the objective of co-ordinating and driving the National Strategy for financial education in Malaysia. The National Strategy – will identify key target groups; define priorities; set measureable and realistic goals; and conduct regular assessment on financial education initiatives. Long-term financial and retirement planning would be one of the key priorities under the proposed National Strategy. The collaboration between AKPK and KWSP – to establish the retirement planning module is indeed timely and in line with the FE Network’s objective.
Today – we have a total of 80 trainers from all over Malaysia, who have completed the Train-the-Trainers programme by AKPK and will graduate as facilitators for this module. I would like to congratulate you and wish to emphasise that you now have an important role – as change agents in creating awareness and promoting behavioural change in the long-term financial and retirement planning, among Malaysians. We also have representatives from the various government and private sector agencies here today. With such a comprehensive module in place, I would like to urge all of us to implement this module as internal training packages at our organisations for the benefit of our employees, including the younger employees during on-boarding programmes. In conclusion, it is our aspiration to see a brighter future, with all Malaysians being knowledgeable; forward looking and achieve financial well-being throughout their entire life stages. Hence – it is important for us to shape the future and make a difference, starting from now! On this note, I hereby officially launch the “Financial Management for Retirement Module”. 3/3  BIS central bankers' speeches