Financial literacy should be taught in schools, says Ahmad Maslan

KULAI: Datuk Seri Ahmad Maslan suggests introducing financial literacy classes at the secondary level to protect students from falling victim to scams. The Deputy Finance Minister highlights the prevalence of financial scams and investment schemes targeting individuals, including teachers. Ahmad Maslan believes that formal financial education in schools could produce more financially-literate individuals. He proposes structured and systematic financial know-how and entrepreneurship classes for five years, three hours a week, starting from secondary one. This will prepare students for the real world upon graduation. Financial literacy can also help Sijil Pelajaran Malaysia (SPM) leavers who prefer to start their own business before pursuing higher education.

The Financial Education Network (FEN), led by Ahmad Maslan’s ministry, will present the proposition to the Education Ministry. FEN comprises eight agencies, including the Education Ministry and Bank Negara Malaysia. Ahmad encourages FEN to advocate for the inclusion of a new subject focused on financial literacy in secondary schools, alongside Mathematics, Bahasa Malaysia, English, and History. Furthermore, Ahmad urges the public to remain vigilant and skeptical of investment deals that promise high returns but seem too good to be true.