KUALA LUMPUR: Alliance Bank Malaysia Bhd today celebrated the conclusion of its seventh edition of the AElOU Challenge, which saw participation from nearly 40,000 Malaysian schoolchildren aged 9 to 12 in a journey toward financial literacy through its physical and virtual workshops.
The event, held at the Galaxy Banquet Hall in Sentul, celebrated winners of the AEIOU Financial Comic Strip Challenge and the AEIOU Financial e-Game Challenge, reinforcing the bank's commitment to fostering smart financial habits among Malaysia's youth.
In the grand finale today, a total of 40 talented finalists from across Malaysia gathered to showcase their financial knowledge in AEIOU Challenge's 'Spot the Scams: Be a Financial Superhero!' showdown and compete for a share of the RM19,200 cash prize pool.
These students tackled real-world financial scenarios, demonstrating both creativity and a solid grasp of money management and scam awareness through the AElOU Challenge.
Alliance Bank group chief executive officer (CEO) Kellee Kam Chee Khiong said that this year's theme is especially timely due to an increasingly digital world as it is crucial to equip children with the knowledge and awareness to protect themselves from financial scams and make wise choices.
"The AEIOU Challenge empowers the next generation with practical skills to identify and avoid financial scams, giving them the confidence to navigate an increasingly complex digital world," he said.
This year there were a total of 79,825 submissions for the both challenges, surpassing Alliance's target by 4,825 submissions.
"This remarkable achievement is the result of the collective success of both the Comic Challenge and the e-Game Challenge, showing just how engaged our young participants are in learning about financial literacy," added Kellee.
Not only that, this year also marks a significant milestone in the AEIOU Challenge following the expansion to Sabah.
"Through our partnership with the Sabah State Treasury Department, we have successfully brought this financial literacy programme to schools in areas such as Sepanggar, Inanam, Tuaran, and other schools that are within the rural areas.
"This expansion has allowed us to teach essential money management skills to even more students, preparing them to navigate financial challenges as they grow," said Kellee.
Kellee said that even as the seventh edition of the AEIOU Challenge concludes today, the AEIOU mobile app and digital resources will still be accessible online, including the e-Game and educational videos, in order for students to continue exploring financial concepts after this competition.
The prize giving ceremony was also officiated by the Deputy Education Minister Wong Kah Woh.
Wong said that the AEIOU Challenge is an innovative programme that stands out as a remarkable initiative that aligns with the Ministry of Education's broader mission of developing well-rounded, financially literate young minds.
"In line with one of the objectives of the 2027 School Curriculum, which emphasises life-long education and skills such as financial literacy, we are committed to empowering schoolchildren with the knowledge and tools they need to have a better understanding about financial concepts," he added.
He said that the AEIOU Challenge has successfully engaged students in best practices for managing their finances while exploring entertaining ways to develop financial literacy awareness, as evidenced by the overwhelming response from schoolchildren and the record number of submissions received, which highlight the deep resonance of the message.
"For our young children, understanding how to navigate the complexities of the digital economy, and being less vulnerable to financial fraud and scams, will be crucial as they grow into responsible adults," said Wong.
"Financial literacy, as highlighted in the AEIOU Challenge programme, offers students the chance to engage in real world experiences that will help them to develop the financial skills they need to succeed," he added.