Siew-Voon Soon, Chee-Wooi Hooy, Kim-Leng Yeah
About this book
This book discusses cutting-edge research and practical applications in financial education aimed at raising the level of financial literacy and financial well-being. It summarises the milestones of financial literacy research from multiple perspectives to offer an overview of factors affecting consumers’ financial literacy, capability, resilience, the intervention gaps and innovative ways to bridge them in Malaysia.
The research papers compiled in this volume were selected from the Financial Education Network’s (FEN) National Financial Literacy Symposium (NFLS) 2022. Two chapters were contributed by ICMR analysts, Ivy S.H. Hii and Nadhirah Ibrahim, under the guidance of ICMR’s Director, Datin Azleen Osman Rani, and Head of Research Development, Datin Aida Jalaludin.
Overview of ICMR’s Chapters
Chapter 1: Financial Literacy: Where Are We Now and Who Is At Risk? – Ivy S.H. Hii
This chapter is a study on the current state of financial literacy in Malaysia, with the aim to enable future policy directions and initiatives to promote financial literacy among different segments of society. To complement the government’s ongoing efforts, the study assesses the current level of financial literacy, and at the same time, identifies the most vulnerable consumer groups based on their socio-demographic and socio-economic status.
Chapter 6: Rethinking Financial Inclusion in A Post-Pandemic World – Nadhirah Ibrahim, Datin Azleen Osman Rani, and Datin Aida Jalaludin
This chapter explores the many complex and interlinked elements when it comes to understanding financial behaviour – calling for the need to address issues at both a structural and individual level. Based on key findings from ICMR’s past research, the chapter highlights the way individual decisions (e.g. lack of retirement planning) and policy concerns (e.g. inadequate pension coverage) can intersect and have serious implications for the future. As such, the chapter explores strategies and recommendations for industry and government to reshape financial inclusion amidst an ever-evolving landscape.
For more information, please visit FEN’s website here. If you wish to purchase a physical copy of the book, please visit the UM Press website here.