NBC, in collaboration with the Ministry of Education, launches a project to integrate financial literacy

date_range 01-Feb-2024
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Phnom Penh: The National Bank of Cambodia has launched a project to integrate financial literacy into the general education curriculum with the Ministry of Education, Youth and Sports, Phase III, after the success of the first phase and the second phase. Dr. Chea Serey, Governor of the National Bank of Cambodia, said in a workshop on the implementation of the Financial Literacy Prevention Project in the General Education Curriculum with the Ministry of Education, Youth and Sports, Phase 3 on February 1, 2024 that Financial literacy is a skill that is used in one's daily life and in the context of the constantly evolving economy, providing students with financial skills such as understanding money, investing, and financial management from an early age. Students need to have the ability to make the right decisions to build a solid foundation for their financial future.

Lack of financial literacy can lead students or young people to face problems in managing their finances, such as falling into debt or bad investments caused by poor decisions, she said. In addition, the integration of financial literacy into the general education curriculum is a holistic approach that will help cultivate a sense of responsibility, thinking and problem-solving skills that are valuable qualities for individual success.

On the other hand, the suppression of financial literacy into general education curriculum is an investment in the future because it not only helps individuals to make the right financial decisions, but also contributes to the well-being and stability of our society.

Please be informed that the discussion on the project to integrate financial knowledge into the general education curriculum has been held since 2017, with the consensus on setting long-term goals to integrate financial knowledge into the general education curriculum from 1st to 12th grade, especially in subjects related to currency, planning and personal financial management, banking and financial institutions, financial responsibility and risk management.

The "first phase" officially began in 2017 and the "second phase" began in December 2019. The "third phase", the last phase, will start from 2024 to 2026.