Kuala Lumpur: Bank Negara Malaysia (BNM) plans to make its money literacy programme, called Financial Education Network (FEN) Proaktif, mandatory for the youth. BNM deputy governor, Adnan Zaylani Mohamad Zahid, stated the central bank’s intention to collaborate with various agencies to encourage youth enrollment in this programme.

According to BERNAMA News Agency, BNM is considering making the FEN Proaktif financial education programme either mandatory or offering credit to ensure youth are prepared financially by the time they graduate or enter the workforce. The programme aims to equip young people with financial literacy, knowledge, and skills necessary for making informed financial decisions.

Adnan Zaylani shared these plans during a panel session, ‘Securing Youth Financial Future: Enhancing Financial Capability’, at the Sasana Symposium 2025, hosted by BNM. He mentioned that BNM is awaiting feedback from relevant ministries and noted the potential need for ministry restructuring before implementing the suggestion. The Minister of Youth and Sports, Hannah Yeoh, who was also present, highlighted concerning statistics on youth bankruptcy in Malaysia.

In 2024, there were 877 cases of youth declaring bankruptcy, an increase from 727 cases in 2023. Yeoh expressed concern over the rising trend, pointing out the ease of accumulating debt through instalment plans and credit card usage. To address this issue, the MADANI government has amended the Bankruptcy Act, allowing bankrupt individuals under 40 with small debts to be discharged, offering them a second chance.