Answer for Oral Question PL146

QUESTION

Yang Berhormat Awang Zainol bin Haji Mohamed

YANG BERHORMAT AWANG ZAINOL BIN HAJI MOHAMED asks the MINISTER OF EDUCATION to state what are the Ministry’s plans to introduce a national syllabus that includes comprehensive financial literacy and resource management, with a focus on cultivating prudent spending habits, responsible debt management and long-term financial empowerment among students from an early stage?

ANSWER

Yang Berhormat Menteri Pendidikan

Yang Berhormat Pehin Yang Di-Pertua and Your Honourable Members

In the name of Allah, the Most Gracious, the Most Merciful.
Yang Berhormat Pehin Yang Di-Pertua and Your Honourable Members,

Peace be upon you and Allah’s mercy and blessings, good morning and greetings.

First of all, kaola would like to record the highest appreciation and thanks to Yang Berhormat Yang Di-Pertua for the opportunity given to kaola to answer oral question PL146 raised by Yang Berhormat Awang Zainol bin Haji Mohamed.

The Ministry of Education has been given the mandate to provide and deliver financial education through the curriculum and educational programmes beginning from the primary school level up to higher education institutions.

Among the initiatives implemented are:

1. The development of the Brunei Darussalam Financial Literacy Competency Framework (BDFLCF), which integrates the teaching and learning of financial literacy across the curriculum.
2. The implementation of school and co-curricular activities planned in a structured manner such as Celik Biz, Big Start and the Entrepreneurship Club.

Based on the results of the implementation of Brunei Darussalam Financial Literacy (BDFL) in schools, several early findings on the development of a culture of prudent financial management are shared:

1. Increased Financial Knowledge and Awareness: The implementation of BDFLCF in the curriculum not only provides early exposure to students on basic financial concepts, but also develops their ability to make wise and ethical financial decisions. This approach also facilitates students’ understanding and increases their awareness of the importance of personal financial management and planning;

2. Active Student Involvement: The implementation of practical and interactive teaching activities such as role play, financial simulations, financial education games as well as educational visits can attract students’ interest and attention; and

3. Practical Skills: Direct experience through activities gives students a clearer picture of financial management in daily life.