Malaysia: Financial Literacy Program by Maybank to Benefit Students in ASEAN Region

As part of its efforts to enhance financial literacy among the younger generation in ASEAN, Maybank’s Cashville Kidz financial literacy program has reached out to 37,020 students and 945 educators in over 113 schools in 2022.

In a year that was recovering from the pandemic, the program “doubled its efforts on increasing the level of financial literacy to 56.3%, and surpassing its initial target of engaging just over 28,000 students.”

To reinforce the importance of financial literacy among students, Maybank held its inaugural Regional Financial Education Excellence Awards this year “to honor educators and students who have displayed dedication and extraordinary efforts in promoting and championing it in Southeast Asia.”

In its fifth edition, the awards program which was “hosted in Kuala Lumpur, Malaysia also aims to further create awareness about the importance of financial literacy region-wide.”

In his opening remarks at the awards ceremony, Tan Sri Dato’ Sri Zamzamzairani Mohd Isa, Chairman of Maybank and Maybank Foundation said that, “every child in this world should be given equal opportunities to quality financial education and underlined the importance of key stakeholders including governments, corporates, schools and family units collaborating to champion this cause in a sustainable manner.”

He added:

“As a leading financial institution and to deliver on its aspiration to become a regional ESG leader, Maybank is committed to serve the communities by providing them with the right knowledge of money management, to ensure that no one is left behind in this rapidly changing environment. The programme has supported the underbanked segment and communities across urban and rural geographies in ASEAN and will continue to drive financial inclusivity in line with our deeper purpose of Humanising Financial Services.”

The Maybank Cashville Kidz program is “accorded co-curriculum status by the Ministry of Education, Malaysia and is endorsed through its strategic partnership and collaboration with the National Bank of Cambodia (NBC), Ministry of Education, Youth and Sports Cambodia (MOEYS), Central Bank of the Philippines (Bangko Sentral ng Pilipinas), the Department of Education Philippines (DepEd), the Ministry of Education and Culture, Indonesia, and the Monetary Authority of Indonesia (OJK).”

Mr Shahril Azuar Jimin, Chief Sustainability Officer of Maybank said:

“The Cashville Kidz program continues to evolve in line with futuristic learning requirements. With refreshed learning modules for students and latest teaching tools provided to educators and parents, we are very encouraged with the results of the program and look forward to further strengthening it to benefit more communities in in the future.”

As noted in the update:

“The effectiveness of the programme has been endorsed by key government stakeholders and regulators in numerous countries in this region and we are pleased to see the programme touching the lives of 37,020 students in 112 schools and trained 945 teachers last year. Additionally, since its introduction, the programme has positively impacted over 300,000 students in 1,150 schools with 4,438 teachers trained in ASEAN.”

The winners of four categories of awards presented at the Maybank Regional Financial Education Excellence Awards 2022 can be viewed here.

Originally piloted in Malaysia in 2013, the Cashville Kidz program together with program partner MoneyTree Asia Pacific Ltd has now been “expanded to six other countries namely Cambodia, Indonesia, Myanmar, Singapore, Vietnam and the Philippines.”

The program has “been successful with approximately 300,000 school students in more than 1,150 schools across ASEAN benefiting to date.”

Maybank Foundation which is “an accredited ASEAN entity, is the corporate responsibility arm of the Maybank Group, which seeks to positively impact communities in markets that Maybank operates.”

The Foundation’s programs are “focused on six key pillars which are Education, Community Empowerment, Healthy Living, Arts & Culture, Environmental Diversity & Disaster Relief.”

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