Malaysia-based bank Maybank extended its popular financial literacy programme last week for four more years, expanding to new schools and reaching nearly 20,000 students.
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Cashville Kidz, which seeks to promote financial skills and independence among the kingdom’s youngest, was initiated in 2016 with the backing of the Central Bank and the Ministry of Education. It was originally implemented in eight primary schools in Phnom Penh, benefitting nearly 1,000 young students.
Phase two of the initiative will extend the programme for an extra four years, and reach 12 new schools.
“The success of the initiative has encouraged us to go ahead with the next phase,” said Mohd Hanif Suadi, CEO of MayBank Cambodia.
“We expect that this second phase will bring even more benefits to local students and communities.
“These young students are the future and it is important that they have a strong foundation in financial literacy,” he said.
The director-general of the Central Bank, Chea Serey, praised the programme for its contribution to forming well-rounded students and increasing financial inclusion in the kingdom.
The initiative will help the children avoid over-indebtedness and financial scams when they become adults, Ms Serey said.
“The main reason these things happen is because people don’t have enough knowledge on how to manage their financial resources. Financial literacy is vital to help them lead a happy and prosperous life,” she said.