BNM committed to disseminating financial knowledge to the people

BNM committed to disseminating financial knowledge to the people

KUALA TERENGGANU: Bank Negara Malaysia (BNM) is committed to disseminating financial knowledge to the people through programmes such as the Financial Carnival and with the cooperation of private and public financial institutions.

Assistant Governor Abu Hassan Alshari Yahaya said financial knowledge is very important , particularly with the advent of technology in the banking system now.

He said the Financial Carnival being held for the first time in Terengganu had received encouraging support from locals.

“We see that people from the rural areas can benefit a lot from technology. For example, we see the Internet penetration in Terengganu as very high at about 90 per cent.But, in terms of Internet banking, its just at 69 per cent.

“This means there is huge potential for us to enhance the knowledge and awareness of the community as to how we need to utilise technology,” he added.

Abu Hassan told reporters this after the launch of the Terengganu Financial Carnival by Menteri Besar Dr Ahmad Samsuri Mokhtar here today.

He said BNM will put forth various other aspects of financial knowledge such as tips on how to avoid loss making financial schemes and also insurance penetration.

“We see the penetration of insurance in Terengganu at less than 26 per cent. This is below the national level of the country. We will strive to ensure the people of Terengganu and the east coast become more knowledgeable of life insurance and such,’ he added.

Meanwhile, Ahmad Samsuri said the Financial Carnival was important to Terengganu to correct the sentiment among the people that banks only catered to the rich or businesses.

“The banking system is for all. At the same time, we are faced with the challenge of the Industrial revolution 4.0 (IR 4.0). I wish for all our economic sectors, including banking, to accommodate and facilitate the changes towards the IR 4.0,” he added.

The three-day carnival starting today is organised by BNM with the participation of 45 financial institutions and themed, “Prioritise Your Financial Needs”.

It offers various products, including Islamic finance, small business financing, insurance/takaful protection and e-payments among others.

— BERNAMA

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