SHAH ALAM: Prime Minister Datuk Seri Anwar Ibrahim today announced a RM50 million initial allocation for Permodalan Nasional Bhd's (PNB) Celik Madani: Celik Kewangan Belia initiative.
Anwar, who is also the Finance Minister, said RM50 will be credited to the university students' accounts, including those at vocational training institutes.
"This programme targets to benefit 200,000 students annually," he said in his speech at the 2024 Malaysia Unit Trust Week (MSAM) at Setia City Convention Centre here today (Aug 22).
Also in attendance were PNB group chairman Raja Tan Sri Arshad Raja Tun Uda, Selangor Menteri Besar Datuk Seri Amirudin Shari and Selangor Speaker Lau Weng San.
The Celik Madani: Celik Kewangan Belia Madani initiative is aimed to ensure Malaysian youth initiate their financial planning early and will continue to uplift their financial lives as they continue to save and invest with ASNB, even after post education.
The goal is to develop the financial acumen of Malaysia's future generation, empowering them with the tools to make informed financial decisions well into their future.
Under this initiative, Anwar said 50 per cent of the total RM50 per student contribution will be supported by the government, while the balance of RM25 will be sponsored by PNB and other corporate companies.
"RM50 will be credited into the Amanah Saham Bumiputera or Amanah Saham Malaysia accounts of public higher education students, where this amount will be locked for a period of five years," he said.
He hoped colleges and universities would cooperate to facilitate the implementation of the initiatives.
Meanwhile, he expressed confidence that PNB and ASNB are capable and already on the right track to strengthen the financial position of the people.
"Driving one of Malaysia's leading financial institutions with over 12.5 million unit holders is no easy task.
"However, I am confident that PNB and ASNB are capable and are already on the right track to strengthen the people's financial position.
"The distribution of income from ASNB trust units has already shown positive improvement, despite the ongoing challenges in the global economic environment," he said.