CIMB Foundation’s financial literacy programme, Be$MART debuts in Sarawak
Financial literacy crucial in prevention of bankruptcy among youths
Kuching: CIMB Foundation’s Be$MART, a comprehensive financial literacy programme specifically tailored for college and undergraduate students nationwide, made its debut in Sarawak today. The launch was officiated by Dato’ Sri Michael Manyin, Sarawak Minister of Youth, Sports & Solidarity and Dato’ Hamidah Naziadin, Chief Executive Officer of CIMB Foundation.
Be$MART’s main objective is to improve youths’ financial literacy by equipping them with the right knowledge and skills to manage their finances well for every stage of life. It is a comprehensive two-day session that utilises a mixture of lectures, simulations and games meant to deliver an end-to-end view of financial management in a fun and interactive way. The Be$MART programme is fully-financed by CIMB Foundation.
Dato’ Hamidah Naziadin, Chief Executive Officer of CIMB Foundation said, “CIMB Foundation, as the CSR arm of the CIMB Group, is pleased to launch this programme in Sarawak. Be$MART trains the youth to take ownership of their own finances, by equipping them with fundamental and practical insights on savings, investment, insurance and even retirement planning, to set them on the right footing for a successful life journey, even before they start earning a living. CIMB Foundation is honoured to be able to invest meaningfully in the financial well-being of our youths, who play an integral part in shaping the country’s future.”
Dato’ Sri Michael Manyin, Sarawak Minister of Youth, Sports, & Solidarity said, “Sarawak is committed to the development of its youths and enhancement of their life-skills; a programme such as Be$MART facilitates financial empowerment in the next generation of Sarawakians, who in turn will be able to power both Sarawak and Malaysia’s economic growth. In creating a pool of financially-savvy human capital, equipped with the right knowledge, CIMB is contributing positively to Sarawak and the country’s development roadmap.”
“In Malaysia, the number of youths struggling with higher debts and bankruptcy are increasing rapidly, and one of the main reasons of this trend is due to poor financial planning. Therefore, there is an urgent need for financial education to reverse this trend. Youths need to practise the concept of living within their means and planning their finances properly. The Be$MART programme provides youths with financial tips and sound knowledge in helping them adopt the right habits for a financially healthy lifestyle,” he added.
Through the Be$MART programme, CIMB Foundation aims to leave a legacy of well-informed and educated youths who are financially independent, so they can become exemplary models for future generations. Leveraging on the financial expertise of CIMB Group, a leading Asean universal bank, CIMB Foundation has curated a holistic financial literacy programme to facilitate the development of the communities it operates in.
The Be$MART programme was officially launched in December 2016 and the first phase runs nationwide for two years. There are 25 Be$MART sessions planned for Sarawak in 2017. As at 13 April 2017, 17 sessions have been conducted nationwide, and more sessions are planned across various states. Since the incorporation of CIMB Foundation in 2007, it has invested over RM21 million in supporting educational projects and initiatives within ASEAN.
Modules of the Be$MART programme cover a wide range of money management lessons such as delayed gratification, goal setting with Financial IQ, Risk Assessment & Profiling, Property Investment, Debt Management, Financial and Lifestyle Changes, Unit Trust Investments, Wealth Multiplier Lifestyle, Budgeting and Tracking, Shares Investments, Financial & Investment Planning and Identifying Scams.
YB Dato' Sri Michael Manyin, Minister of Youth, Sports, & Solidarity of Sarawak (front row, middle) with Dato' Hamidah Naziadin CEO of CIMB Foundation (front row, third from left) and students at the launch of CIMB Foundation's flagship financial literacy programme Be$MART at UNIMAS in Sarawak yesterday.