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Sabah lauds move to raise financial literacy
Published on: Sunday, July 16, 2017

Kota Kinabalu: The State Government welcomed the move by the Employees Provident Fund (EPF) to work with the Credit Counselling and Debt Management Agency, better known as AKPK, to introduce their holistic financial literacy programme here.

Chief Minister Datuk Seri Musa Aman said the State Government is pleased to work with responsible stakeholders on programmes and projects that would benefit Sabahans and their financial literacy.

"Financial literacy programmes such as these are essential in driving home the message to take charge of one's finances.

"Being financially prepared is important to every Malaysian, particularly youths, who in turn are vital to our economic future," he said at the launching of the Retirement Talks with EPF event at Suria Sabah Mall, here, Saturday.

In his speech read by Special Tasks Minister Datuk Teo Chee Kang, Musa said in line with new economic models and the State's aspiration to become a developed economy, the Government constantly studies and develops policies and initiatives which would take care of the elderly and younger generations.

This includes providing incentives for the self-employed, re-employment of aged workers, up-skilling of workers, as well as incentives for companies to adopt latest technologies and automation, he said.

"A priority of the Government is to create opportunities for everyone, especially those below the poverty line and other vulnerable groups, to get access to quality social services and income security.

"However, the Government cannot do this alone; it is difficult to achieve a comprehensive and sustainable social security system for the entire nation without support from relevant parties.

"It must be a collaborative effort, harnessing the strength and passion of stakeholders, such as the EPF and AKPK, the financial sector, the education sector, the labour and manpower sectors, the community, as well as the media. "We must all work together to help achieve this worthwhile mission to raise the country's financial literacy level," he said.

Musa advised those present at the two-day event to take advantage of this opportunity to gain as much knowledge and understanding about financial and retirement planning as well as debt management.

"We must act now and empower ourselves with the knowledge and skills needed so that we and the generation of tomorrow can inherit a better future, a future with more opportunities, higher income levels and greater access to healthcare and education," said Musa.

Also present were EPF Malaysia Chief Executive Officer (CEO) Datuk Shahril Ridza Ridzuan and AKPK CEO Azzadin Ngah Tasir. - Jo Ann Mool

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