National Financial Literacy Symposium

National Financial Literacy Symposium 2022

The Financial Education Network (FEN) is organising the National Financial Literacy Symposium (NFLS) 2022 with the theme “Advancing Financial Literacy Towards Rebuilding Financial Resilience Post-Pandemic”.

The inaugural NFLS 2022 is co-hosted by Perbadanan Insurans Deposit Malaysia (PIDM) and Bank Negara Malaysia, in collaboration with Malaysian Economic Association (MEA) to be held on 11 – 12 October 2022 in conjunction with FEN’s Financial Literacy Month 2022.

The NFLS 2022 provides a forum for policy makers, academicians, researchers, practitioners, analysts, associations, NGOs and other stakeholders to advance the nation’s financial literacy agenda in tandem with the country’s post-pandemic recovery and rebuilding efforts.

The NFLS aims to provide new insights and potential solutions to emerging challenges in an increasingly complex environment and will discuss various topics of interest in two formats. Plenary sessions will cover broad areas related to the strategic landscape of Financial Literacy in Malaysia and beyond. On the other hand, parallel sessions – running concurrently in two groups – will dive deeper into research studies across the themes of financial inclusion, digital financial literacy, vulnerable groups, interventions, and others, where participants are welcome to select and join depending on the areas of interest.

Objectives of NFLS 2022

Catalyse the multidisciplinary research on financial literacy in the Malaysian context among the academic community, policymakers and industry practitioners through a call for papers, discussions and reviews.

Contribute to the nation’s financial literacy and resilience efforts.

Enhance visibility, reputation and trust among relevant stakeholders.

Support FEN and its efforts to improve the financial literacy of Malaysians.

Venue

Sasana Kijang, Bank Negara Malaysia

2, Jalan Dato Onn,
50480 Kuala Lumpur,
Wilayah Persekutuan Kuala Lumpur

Rooms:

  1. Auditorium
  2. Conference Hall 2

Virtual Venue

Join NFLS 2022 virtually HERE

Programme Booklet

Download

AGENDA

Day 1

 Tuesday, 11 October 2022

Day 2

 Wednesday, 12 October 2022

2nd Financial Education Network (FEN)

Community of Practice

Wednesday, 12 October 2022

9.30am – 9.40am | Auditorium, Level B1

Welcoming Remarks

Speaker:
Tan Sri Dr. Rahamat Bivi Yusoff
Chairman, Perbadanan Insurans Deposit Malaysia (PIDM)

9.40am – 9.50am | Auditorium, Level B1

Keynote Address

Speaker:
Datuk Abdul Rasheed Ghaffour
Deputy Governor, Bank Negara Malaysia

9.50am – 10.00am | Auditorium Lounge, Level B1

Refreshments

10.00am – 10.10am | Auditorium, Level B1

Key Observations on Current State of Play of Financial Literacy in Malaysia

Speaker:
Wan Ahmad Ikram Wan Ahmad Lotfi
Executive Vice President, PIDM

10.10am – 12.00pm | Auditorium, Level B1

Plenary Session 1
Diagnosis of Financial Literacy in Malaysia: Where Are We?

Guest Speaker: Caroline Siarkiewicz, Chief Executive Officer, The Money and Pensions Service United Kingdom

Moderator: Prof. Dr. Yeah Kim Leng, Deputy President, Malaysian Economic Association

Panellists:

  • Nor Rafidz Nazri, Director of Financial Inclusion Department, Bank Negara Malaysia
  • Nurhisham Hussein, Chief Strategy Officer, Employees Provident Fund
  • Jay Khairil Jeremy, Chief Executive, Bank Simpanan Nasional

12.00pm – 1.30pm | Atrium, Level G

Networking Lunch

1.30pm – 3.30pm (Parallel Session 1)

Auditorium, Level B1

Break Out 1

Moderator:
Datin Associate Prof. Dr. Izlin Ismail, Deputy Dean, Faculty of Business and Economics, Universiti Malaya

Panellists:

  • Balqais Yusoff, Head of Strategy Management Department, Employees Provident Fund
  • Dr. Nur Ain Shahrier, Senior Lecturer, Sunway University Business School

Papers and Presenters:

 

  1. Rethinking the Critical Levers for Financial Inclusion in a Post-Pandemic World by Nadhirah Ibrahim
  2. Does Financial Literacy improve Financial Inclusion in Developing Countries? A Nonlinearity and Quantile Regression Analysis by Abd Rahim Md Jamil
  3. Determinants of Financial Inclusion: Panel Analysis by Naftaly Mose
  4. Financial Literacy, Fintech and Financial Inclusion – Policy Nexus in Malaysia by Chung Tin Fah
  5. The Role of Microtakaful in Enhancing Financial Inclusion by Mohamad Yazid Isa

      Conference Hall 2, Level B1

      Break Out 2

      Moderator:
      Farhana Roslan, Head of Research, PNB Research Institute

      Discussants:

      • Authors

      Papers and Presenters:

      1. How Malaysians fared financially during the Covid-19 pandemic: A socio-demographic comparison by Nurul Shahnaz Mahdzan
      2. Financial literacy in Malaysia: Where are we now and who is at risk? by Ivy H. Hii
      3. Covid-19 Financial Relief Scheme: An Analysis of Financial Literacy and Financial Anxiety Among Malaysian Population by Siti Raihana Hamzah
      4. Financial Literacy and Maqasid Shariah: Towards Achieving Financial Well-being among Low- and Middle-income Households in Malaysia by Hanis Shamma
      5. Exploring Factors Affecting Financial Behaviours Among Malaysians by Phaik Nie Chin
      6. FIMM 2021 Investors’ Financial Literacy Survey On Unit Trust Scheme, Private Retirement Scheme And Retirement Planning (IFLS2021) by Kaleon Leong Rahan

       

      3.30pm – 4.00pm | Auditorium Lounge, Level B1

      Refreshments

      4.00pm – 5.30pm | Auditorium, Level B1

      Plenary Session 2
      Financial Literacy Intervention Strategies:
      What Works and How Can We Do Better?

      Speakers: Nur Izzat Aiman and Adam Tiam, Co-Founders, Financial Literacy for Youths

      Moderator: Hawati Abdul Hamid, Deputy Director of Research, Khazanah Research Institute

      Panellists:

      • Azaddin Ngah Tasir, Chief Executive Officer, Credit Counselling and Debt Management Agency
      • Hann Liew, Founder, RinggitPlus
      • Alexander Clark, Senior Advisor, The Behavioural Insights Team

      8.45am – 10.15am | Auditorium, Level B1

      Plenary Session 3
      The Digital Age of Financial Literacy and Consumer Protection – Boon or Bane?

      Moderator: Malek Ali, Founder of Fi Life

      Panellists:

      • Mohammad Matin Mohdari, Strategy Director, Tech for Good Institute
      • Jawahar Ali Ameer Ali, General Manager, Consumer & Investor Office, Securities Commission Malaysia
      • Adadzewa Otoo, Policy Specialist E-money, Alliance for Financial Inclusion

      10:15am – 10.30am | Auditorium Lounge, Level B1

      Refreshments

      10.30am – 12.15pm (Parallel Session 2)

      Auditorium, Level B1

      Break Out 1

      Moderator:
      Nizam Ibrahim, Manager of Financial Inclusion Department, Bank Negara Malaysia

      Panellist:

      • Mark Lee Kian Meng, Head of International and Research Department, PIDM

      Invited Discussant:

      • Prof. Dr. Evelyn Shyamala A/P Paul Devadason,
        Vice President, Malaysian Economic Association

      Papers and Presenters: 

      1. The Impact of Classroom Financial Education Program: An Experimental Study Among Low Self-Control Young Adults by Amer Azlan Abdul Jamal
      2. Developing psychological cue to improve the ability of delaying instant gratification: An Experimental Study by Ooi Tze Wei
      3. Exploring the Mediating Effect of Resilience on Financial Literacy among Malaysian Youth in Post-COVID-19 Pandemic by Wee-Yeap Lau
      4. Investment Decisions through Digital Financial Literacy among Millennials by Avnner Chardles Wellfren
      5. Determinants of Financial Behaviour: Does Digital Financial Literacy (DFL) Foster or Deter Sound Financial Behaviour? by Nurhazrina Mat Rahim

      Conference Hall 2, Level B1

      Break Out 2

      Presenter:
      Melissa Tan, Research Fellow, Tech for Good Institute 

      Digital Financial Services for Financial Inclusion

        Moderator:
        Mohammad Mafrukhin Mokhtar, Head of Research, Credit Counselling and Debt Management Agency

        Panellists:

        • Prof. Dr. Hooy Chee Wooi, Vice President, Malaysian Economic Association
        • Ankita Singh, Research and Insights Specialist, United Nations Capital Development Fund

        Papers and Presenters:

        1. Digital Financial Services for Financial Inclusion by Melissa Tan
        2. Supporting SMEs Financial Resilience during Crises: A framework to Evaluate the Effectiveness of Financial Literacy Programs Targeting SMEs by Dalal Aassouli
        3. Digital Financial Literacy: Cyber Frauds During the Covid-19 Pandemic by Charumathi & Beemamol M
        4. Financial Inclusion of Women-Owned SMEs: Role of Digital Financial Services by Rabia Rasheed
        5. Examining The Adoption of the Digital Currency Electronic Payment Using the Technology Acceptance Model (TAM): Case in China by Wei Yizhen

        12.15pm – 12.30pm | Auditorium, Level B1

        Closing Remarks and Awards

        Speaker:
        Emeritus Prof. Datuk Norma Mansor
        President, Malaysian Economic Association

        By Invitation Only

        2:00pm – 2:10pm | Forum, Level 1

        Opening Remarks

        by

        Wan Ahmad Ikram Wan Ahmad Lotfi
        Executive Vice President, PIDM

        2:10pm – 3:30pm | Forum, Level 1

        Panel Session 1:
        Measurement and Evaluation of Financial Literacy

        Guest Speaker:
        Caroline Siarkiewicz, Chief Executive Officer (CEO) , The Money and Pensions Service (UK)

        Moderator:
        Mohammad Mafrukhin Mokhtar
        Head, Research Development Department, Credit Counselling and Debt Management Agency (AKPK)

        Panellists:

        • Ankita Singh, Research Specialist, Financial Health and Innovations, United Nations Capital Development Fund (UNCDF)
        • Araks Manucharyan, Financial Education Expert, Consumer Protection and Financial Education Centre, Central Bank of Armenia

        3:30pm – 3:45pm

        Refreshments

        3:45pm – 5:00pm | Forum, Level 1

        Panel Session 2:
        Trends in Digital Financial Services (DFS) and the Role of Digital Financial Literacy (DFL)

        Moderator:
        Dr. Rachel Gong
        Deputy Director of Research, Khazanah Research Institute

        Panellists:

          • Saniya Ansar, Economist, Finance and Private Sector Research Team, Development Research Group, World Bank Group
          • Rekha Reddy, Senior Financial Sector Specialist, World Bank Group
          • Ghiyazuddin Mohammad, Senior Manager, Digital Financial Services, Alliance for Financial Inclusion (AFI)

        5:00pm

        End of FEN Community of Practice