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Rapid growth of digital technologies enhances need for digital talent, sharing economy in Malaysia, says Tengku Zafrul

Finance Minister Datuk Seri Tengku Zafrul Abdul Aziz is seen at Parliament, Kuala Lumpur, September 14, 2021. — Bernama pic

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KUALA LUMPUR, Oct 15 — The rapid growth of digital technologies following the Covid-19 pandemic has boosted the need for digital talent and the sharing economy for Malaysians, according to Finance Minister Datuk Seri Tengku Zafrul Abdul Aziz.

This, he said, demonstrates the necessity to change the way people explore job opportunities and new businesses.

Hence, the ongoing Financial Literacy Month (FLM2021) is providing upskilling, reskilling and income generation opportunities, especially through digital platforms, the minister said.

“The opportunities should be fully embraced by gig workers as well as micro, small and medium enterprise owners affected by the pandemic to increase their household income.

“However, the change needs to be accompanied with financial management knowledge to build financial resilience for the future,” he said at the virtual launch of FLM2021 organised by the Financial Education Network (FEN) today.

Tengku Zafrul said Malaysians’ experience over the past 19 months in undergoing a distressing period caused the pandemic should be taken as a lesson for better financial planning.

“It is important for people from all walks of life, no matter how we earn our living, to obtain deep financial management knowledge in order to develop strong financial resilience,” he said.

Tengku Zafrul said FLM2021 also offers financial advisory and guidance services, especially to those affected by the Covid-19 pandemic.

The emphasis on this aspect is very much in line with the government’s efforts to assist the people, especially during this challenging time, he added.

“The FLM2021 initiative will also explain the latest modus operandi of schemes such as the Macau Scam and how to avoid becoming a victim of financial scams,” the minister said.

Citing data from the Federal Commercial Crime Investigation Department, Tengku Zafrul said there were 5,527 Macau Scam cases recorded from 2019 till last June, involving losses totalling RM327.9 million.

FEN–an inter-agency grouping co-chaired by Bank Negara Malaysia and the Securities Commission–implemented more than 400 initiatives between January 2020 and July 2021 which involved nearly 47 million interactions with the people.

The second edition of FLM, FLM2021, runs throughout this month with the theme “Navigate Your Finances: Stay Safe, Act Wisely”. — Bernama

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