Empowering Malaysia's future: FWD Insurance and BSN's Camp Millionaire champions financial literacy

Nationwide initiative culminates in a transformative financial education camp, equipping primary school students with essential financial management skills and fostering a financially inclusive Malaysia.

KUALA LUMPUR, Malaysia, Dec. 31, 2024 /PRNewswire/ -- FWD Insurance Berhad ("FWD Insurance") and Bank Simpanan Nasional ("BSN") have reached a significant milestone in their transformative mission to enhance financial literacy among Malaysia's youth. Launched on 6 December, the Camp Millionaire programme culminated in a grand finale on 7 December, marking the successful conclusion of the first phase of this nationwide initiative aimed at empowering primary school students with essential financial knowledge and skills.

Camp Millionaire, an advanced financial education camp developed by Little Tauke, brought together 100 participants, selected as top achievers from their respective schools. The programme offered an immersive experience to deepen their understanding of financial management, empowering them to apply their knowledge practically and become ambassadors of financial literacy within their communities.

FWD Insurance and BSN collaborated with Little Tauke, the financial education experts to deliver the "Know Your Money" programme which has already empowered over 1,000 students across 20 schools nationwide, reaching both urban and rural communities.

This initiative underscores FWD Insurance's unwavering commitment to financial inclusion, aligning with Bank Negara Malaysia's (BNM) mandate to enhance financial literacy across the nation. By leveraging BSN's strong school networks and Little Tauke's educational expertise, the programme imparts crucial financial knowledge to primary school students aged 10 to 12, laying a robust foundation for their future financial well-being.

"FWD is dedicated to empowering individuals with the knowledge and tools they need to thrive and celebrate living," said Mak See Sen, Chief Executive Officer of FWD Insurance. "This partnership with BSN and Little Tauke exemplifies our forward-thinking approach, where financial literacy is not just a skill but a gateway to a brighter future. Our collaboration with BSN has significantly accelerated our efforts to promote financial literacy among Malaysian youth, building strong momentum towards a financially inclusive future."

"Financial literacy goes beyond merely learning how to accumulate wealth. It encompasses the ability to make informed decisions about spending, saving, investing, and managing debt. These are essential life skills that have a profound and long-lasting impact on an individual's financial well-being. By instilling these skills at a young age, we empower the youth to navigate the complexities of the financial world with confidence and responsibility," he added.

Jay Khairil, Chief Executive of BSN, highlighted the broader impact of this collaboration: "At BSN, our mission is deeply rooted in empowering the rakyat and fostering financial inclusion. We believe that financial literacy is a cornerstone of sustainable development, and that no Malaysian should be left behind in this journey. Through initiatives like Camp Millionaire and the broader Know Your Money programme, we are cultivating a generation equipped with the knowledge and skills to navigate their financial future with confidence. This collaboration reflects our commitment to building a more resilient and inclusive Malaysia, where everyone has the opportunity to thrive."

The collaboration between FWD Insurance and BSN goes beyond conventional business partnerships, focusing on delivering tangible benefits to Malaysian society. By empowering the next generation with the skills and knowledge to navigate an increasingly complex financial landscape, this partnership underscores a steadfast commitment to building a financially literate and inclusive Malaysia. Through initiatives like Camp Millionaire, FWD Insurance and BSN reaffirm their dedication to shaping a brighter, more resilient future for all Malaysians.

About FWD Insurance Berhad

FWD Insurance Berhad is part of FWD Group, a pan-Asian health and life insurance business with over 12 million customers across 10 markets, including some of the fastest-growing insurance markets in the world. The company was established in 2013 and focused on changing the way people feel about insurance. FWD's customer-led and digitally enabled approach aims to deliver innovative propositions, easy-to-understand products, and a simpler insurance experience.

About Bank Simpanan Nasional (BSN)

Since its establishment in 1974, Bank Simpanan Nasional (BSN) has been continuously driving positive change in the lives of Malaysians. Guided by its vision of "No Malaysian Left Behind," BSN offers inclusive and innovative financial solutions to ensure broad access to financial opportunities for all segments of society.

As a key financial institution in the country, BSN is dedicated to fulfilling its mission to enhance financial literacy among Malaysians and build a brighter financial future. With an extensive network, BSN provides a wide range of comprehensive products and services, including savings, financial management, micro and personal financing, as well as Islamic and conventional credit cards.

BSN currently operates more than 387 branches, 40 Micro Finance Centers, 578 Automated Teller Machines (ATMs), 259 Cash Recycling Machines (CRMs), 10 Mobile Bank Branches (CBB), and over 2,282 BSN Bank Agents (EB BSN) nationwide, including in rural and remote areas. With over 9 million customers, BSN continues to lead in financial inclusivity, supporting the country's economic development agenda.

As of October 2024, BSN manages retail deposits totalling RM21.5 billion, reflecting the trust and confidence of the public in its services. Through a combination of digital technology and a personal touch, BSN continues to bring banking services to every corner of the country, making finance more accessible to everyone.

For more information, visit www.bsn.com.my.