DEBAK: Financial knowledge has become an essential need in today’s digital and modern economic era, as rapid transformation also brings new risks.
Deputy Minister for Women, Early Childhood and Community Wellbeing Development, Datuk Mohammad Razi Sitam, emphasised that society must be not only financially capable, but also financially protected in navigating these changes.
“The use of e-wallets, digital investment platforms and online banking has become the norm. However, these conveniences come with risks such as cyber scams, fraudulent investments and data theft.
“Therefore, digital financial literacy is crucial to ensure the public can use these tools wisely and safely,” he said when officiating at the Financial Literacy Month 2025 Programme held at Dewan Millenia here on Wednesday.
The Saribas assemblyman further stressed that financial knowledge is no longer optional but a necessity that helps individuals make sound decisions in managing income, saving, investing, borrowing responsibly and planning for the future.
He welcomed efforts by Bank Simpanan Nasional (BSN) and Bank Negara Malaysia (BNM) to strengthen digital financial education through awareness campaigns and interactive community programmes.
Razi noted that segments of society, particularly the youth and the lower-income (B40) group, remain vulnerable to financial risks such as unmanageable debt, get-rich-quick schemes and online scams.
“Therefore, efforts to strengthen financial literacy must be intensified and delivered in language that is easily understood by all levels of society,” he said, adding that the government and financial institutions play a vital role in building an inclusive financial ecosystem.
He also expressed pride that such programmes are being brought to rural areas like Debak, which play an important role in enhancing the financial literacy level of Malaysians.
