Hong Kong's Investor Education Centre gave out awards to recognise organisations that provide quality financial education.
A stock-take conducted by the Investor Education Centre (IEC) revealed that financial education initiatives between 2015 and 2018 rose by 21 percent, versus the three-year period earlier. The number of organisations involved went up by 28 percent to 278, during the same period.
«We are heartened to note that increasingly more organisations are playing active roles to foster and advance financial literacy in Hong Kong. Together with the support from all stakeholders, we can collectively enrich the financial education landscape,» said IEC Chairman Lester Huang in a press statement.
Promoting Financial Literacy
In line with the Hong Kong Strategy for Financial Literacy (HKSFL) to support and promote financial literacy and learning opportunities, IEC established the Financial Education Champion award to encourage and mobilise stakeholders across various sectors to get involved.
These include funding, organising events, disseminating educational materials that are non-profit making in nature to help the public from various demographic groups make well-informed financial decisions.
The award submissions covered a wide range of important and practical topics including saving, debt management, retirement planning, MPF and investing.
Increased Activities
For 2015 to 2018, the number of financial education activities offered by government departments and public bodies more than doubled from 11 percent to 25 percent. Tertiary institutions and financial regulators have also become more active in offering financial education initiatives.
There was a rise in the provision of segment-targeted and tailored financial education content which led to more relevant and impactful programmes for the beneficiaries.
