Latest news with #AdnanZaylani
The Star
17-06-2025
- Business
- The Star
Bank Negara plans to make Financial Education Network Proaktif mandatory for youth
Bank Negara deputy governor Adnan Zaylani Mohamad Zahid 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, said the central bank is looking forward to working with various agencies in encouraging the youth to enrol in this programme. "(We are planning) to make it mandatory or give them credit to undertake this FEN Proaktif financial education programme so that the youth are equipped by the time they graduate or they enter the workforce. "This is to make sure they have sufficient financial literacy, knowledge and skills to face these financial decisions at any moment,' he said. Adnan Zaylani said this during a panel session on the topic, "Securing Youth Financial Future: Enhancing Financial Capability', at the Sasana Symposium 2025, hosted by BNM today. He noted that BNM is currently awaiting responses from the respective ministries regarding its planning and added that: "We will see if the ministries will be reset before that suggestion'. The panel session was also attended by the Minister of Youth and Sports (KBS), Hannah Yeoh, who also addressed alarming data on the number of youth involved with bankruptcy in Malaysia. In 2024, 877 cases of youth declaring bankruptcy were recorded, compared to 727 in 2023, showing an increase of 150 cases within a year. "If you look at the youth population, 9 million, this is a small number, but the trend is a bit scary? It is so easy to buy things and then put them on an instalment plan and then pay later, but when you start accumulating credit card debt, you pay interest, spending money that you do not have,' said Yeoh. Thus, she said amid the growing trend, the MADANI government has amended the Bankruptcy Act, allowing bankrupt persons below 40 who have small debts to be discharged to give them a second chance. - Bernama
The Sun
17-06-2025
- Business
- The Sun
BNM plans to make Financial Education Network Proaktif mandatory for youth
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, said the central bank is looking forward to working with various agencies in encouraging the youth to enrol in this programme. '(We are planning) to make it mandatory or give them credit to undertake this FEN Proaktif financial education programme so that the youth are equipped by the time they graduate or they enter the workforce. 'This is to make sure they have sufficient financial literacy, knowledge and skills to face these financial decisions at any moment,' he said. Adnan Zaylani said this during a panel session on the topic, 'Securing Youth Financial Future: Enhancing Financial Capability', at the Sasana Symposium 2025, hosted by BNM today. He noted that BNM is currently awaiting responses from the respective ministries regarding its planning and added that: 'We will see if the ministries will be reset before that suggestion'. The panel session was also attended by the Minister of Youth and Sports (KBS), Hannah Yeoh, who also addressed alarming data on the number of youth involved with bankruptcy in Malaysia. In 2024, 877 cases of youth declaring bankruptcy were recorded, compared to 727 in 2023, showing an increase of 150 cases within a year. 'If you look at the youth population, 9 million, this is a small number, but the trend is a bit scary? It is so easy to buy things and then put them on an instalment plan and then pay later, but when you start accumulating credit card debt, you pay interest, spending money that you do not have,' said Yeoh. Thus, she said amid the growing trend, the MADANI government has amended the Bankruptcy Act, allowing bankrupt persons below 40 who have small debts to be discharged to give them a second chance.
The Sun
17-06-2025
- Business
- The Sun
BNM plans to make Financial Education Network Proaktif mandatory
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, said the central bank is looking forward to working with various agencies in encouraging the youth to enrol in this programme. '(We are planning) to make it mandatory or give them credit to undertake this FEN Proaktif financial education programme so that the youth are equipped by the time they graduate or they enter the workforce. 'This is to make sure they have sufficient financial literacy, knowledge and skills to face these financial decisions at any moment,' he said. Adnan Zaylani said this during a panel session on the topic, 'Securing Youth Financial Future: Enhancing Financial Capability', at the Sasana Symposium 2025, hosted by BNM today. He noted that BNM is currently awaiting responses from the respective ministries regarding its planning and added that: 'We will see if the ministries will be reset before that suggestion'. The panel session was also attended by the Minister of Youth and Sports (KBS), Hannah Yeoh, who also addressed alarming data on the number of youth involved with bankruptcy in Malaysia. In 2024, 877 cases of youth declaring bankruptcy were recorded, compared to 727 in 2023, showing an increase of 150 cases within a year. 'If you look at the youth population, 9 million, this is a small number, but the trend is a bit scary? It is so easy to buy things and then put them on an instalment plan and then pay later, but when you start accumulating credit card debt, you pay interest, spending money that you do not have,' said Yeoh. Thus, she said amid the growing trend, the MADANI government has amended the Bankruptcy Act, allowing bankrupt persons below 40 who have small debts to be discharged to give them a second chance.
Bloomberg
17-06-2025
- Business
- Bloomberg
Malaysia's BNM Pledges to Ensure Ringgit ‘Doesn't Run Too Far'
Bank Negara Malaysia will be on guard to rein in any volatility in the ringgit even as market uncertainty remains high, according to a central bank official. The central bank will ensure markets are properly functioning and the exchange rate 'doesn't run too far,' Deputy Governor Adnan Zaylani Mohamad Zahid said at an event in Kuala Lumpur on Tuesday.
New Straits Times
06-05-2025
- Business
- New Straits Times
Malaysia's financial markets remain resilient amid global volatility: FMC
KUALA LUMPUR: Malaysia's financial markets have remained stable and orderly despite persistent global volatility, the Financial Markets Committee (FMC) said in its latest assessment. This assurance comes as global investors react to the United States' sweeping tariff announcement on April 2, 2025, which has shaken market sentiment and renewed fears over the direction of global trade policy. FMC chairman and Bank Negara Malaysia deputy governor Adnan Zaylani said the strength of Malaysia's markets has allowed regulators to maintain their focus on long-term development. "The Malaysian financial markets have remained orderly despite the volatile external environment. This allows us to focus our efforts on market development initiatives that will further enhance investors' experience in our markets. "Nonetheless, we remain vigilant amid the rapidly evolving global situation," said FMC chairman and Bank Negara Malaysia deputy governor Adnan Zaylani. The US tariff move has triggered jitters among global investors, leading to cautious investment sentiments and renewed concerns over global trade policy directions. Despite initial shocks, Malaysia's financial indicators have shown encouraging signs. "The ringgit has appreciated by 2.3 per cent year-to-date against the US dollar, largely driven by broad-based dollar weakness across global markets," FMC said in a statement. Meanwhile, the domestic equity market, represented by the FBM KLCI, initially saw a sharp 8.2 per cent drop in reaction to the tariff news but recovered significantly following a temporary pause in its implementation. As of April 25, the index stood just 1.1 per cent below its level at the start of April. The foreign exchange market remains robust, with average daily turnover at US$18.8 billion so far this year—marking a 6.8 per cent year-on-year increase, according to the committee. This sustained activity continues to support corporate forex needs. In terms of fixed-income performance, the domestic bond market has shown strong investor demand. The average bid-to-cover ratio for government bond auctions has improved to 3.01 in 2025, up from 2.56 in 2024. Secondary market liquidity has also surged, with average daily trading volume rising to RM7.3 billion this year compared to RM4.6 billion in 2024, reaching a peak of RM15.5 billion. The FMC also noted increasing interest in the use of local currencies for cross-border trade and investment settlements, reflecting growing regionalisation of financial activities. Looking ahead, the FMC expressed support for Bank Negara's ongoing efforts to strengthen the Malaysian Government Investment Issue (MGII) market. It said these will include a review of the dynamic hedging framework to facilitate hedging by index trackers as well as supporting market-making by domestic financial institutions through improved repo availability.
