27-Jun-22 18:00

Nirmala Supramaniam, Head of Household Financial Education Department, Credit Counselling and Debt Management Agency (AKPK | Cheong Hien, President, Financial Literacy for Youths (FLY)

Prime Minister Datuk Seri Ismail Sabri Yaakob expressed concern with the number of bankruptcy among youths and has proposed raising the insolvency threshold to address the issue. Based on statistics from the Insolvency Department, an average of 18 people each day was declared bankrupt from January to May this year with the total amount being 2,694 cases. We discuss the issue of bankruptcy among youths and how increasing the insolvency threshold might help. Next, we get into the importance of financial literacy among youths and the role schools play.

Image Source: Melinda Gimpel, Unsplash