Govt Urges IPTs To Instil Savings, Investment Habits Through Celik MADANI - Amir Hamzah

KUALA LUMPUR, Feb 24 (Bernama) -- The government has urged all higher education institutions (IPTs) participating in the Celik MADANI initiative to actively encourage students to increase their investments, fostering a habit of saving and investing from an early age, said Finance Minister II Datuk Seri Amir Hamzah Azizan.

He emphasised the importance of financial awareness among the younger generation, enabling them to make informed financial decisions - not only for managing their personal and family finances but also for contributing to the country’s finances in the future.

“I call on all parties to support the Celik MADANI initiative and ensure its success.

“I understand that Permodalan Nasional Bhd (PNB) and Amanah Saham Nasional Bhd (ASNB) have implemented various financial literacy programmes, targeting different groups, including the country’s younger generation,” he said at the Celik MADANI Memorandum of Agreement presentation ceremony at Menara Merdeka 118, today.

Meanwhile, PNB, in a statement, announced that one million students in higher education institutions will receive a free initial investment of RM50, along with financial literacy resources, under the Celik MADANI programme. This initiative, introduced by PNB, aims to enhance financial literacy and cultivate saving habits among university students.

The five-year initiative, set to run from March 1, 2025, to Feb 28, 2030, was first announced by Prime Minister Datuk Seri Anwar Ibrahim during the opening of the Malaysian Unit Trust Week (MSAM) on Aug 22 2024.

Managed by ASNB, the initiative aims to benefit approximately 200,000 students annually over the next five years.

In its first phase, the initiative will provide first-semester students, at selected public IPTs and government-linked universities, with an initial investment of RM50, credited to their Amanah Saham Bumiputera (ASB) or Amanah Saham Malaysia (ASM) accounts. This investment will be locked in for five years.

The second phase will extend the Celik MADANI programme to selected private and vocational institutions.

Among those present at the event were Deputy Higher Education Minister Datuk Mustapha Sakmud; PNB group chairman Raja Tan Sri Arshad Raja Tun Uda; PNB group president and chief executive officer Datuk Abdul Rahman Ahmad; Yayasan Perkasa Siswa chief executive officer Hirman Awang, as well as vice-chancellors and deputy vice-chancellors of the participating universities.

--BERNAMA