Financial Planning Literacy Crucial in Achieving National SDGs

Kuala Lumpur, November 24th, 2017 – As part of the Malaysian Financial Planning Council (MFPC) agenda to achieve the United Nations (UN) Sustainable Development Goals (SDGs) and to ensure proper planning and sustainability of financial literacy in Malaysia, the MPFC has signed a memorandum of understanding (MoU) to collaborate with Global Compact Network Malaysia (GCMY).

MFPC and GCMY will collaborate to promote awareness and advocate for financial planning to enable financial sustainability. They will also partner with the Government, think-tanks and academic centres to design sustainability into financial planning education. Together MFPC and GCMY will conduct training and information sharing sessions, seminars, workshops and best practice exchanges with stakeholders domestically and regionally.

MFPC has committed to SDG 4 and SDG 17 to, respectively, ensure inclusive and equitable quality education and to implement and vitalize global partnership for sustainable development. MFPC and GCMY have a roadmap to achieve these goals by raising awareness on financial planning, providing skills to improve individual understanding and knowledge of rights.

In expressing his appreciation, MFPC’s President, Michael Kok Foo On said “It is certainly a privilege for us to collaborate with a world recognised body and it is indeed very encouraging as we continue doing what we do ever since our initiative in 2002 through the support of the Malaysian Government”. He added “A good understanding in financial literacy will make an important impact to the efficiency of the financial system and to the performance of the country’s economy.”

Puvan J Selvanathan, President of GCMY, said, ‘“With MFPC we can help to improve the level of financial literacy nationally. People are sustainable when they have financial security on income, education and health for their household. MFPC programmes and projects strategically strengthen the achievement of the SDGs in Malaysia”.

MFPC recognises the challenge to meet the UN SDGs by 2030 and is committed to creating a viable economic foundation for the future. The target programmes will promote sustainable livelihoods, education and sustainable economic and financial well-being.

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