SECP, ministry of education sign MoU to promote financial literacy

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) took a significant step towards promoting financial literacy among students at federal educational institutions by signing a Memorandum of Understanding (MoU) with the Ministry of Federal Education and Professional Training on Tuesday.

The MoU, inked by SECP Chairman Akif Saeed and Special Secretary of Federal Education and Professional Training Mohyuddin Ahmad Wani, aims to incorporate financial literacy topics into the curriculum of federal government schools and colleges.

Additionally, it seeks to equip educators with the necessary skills through a teacher’s training program and conduct interactive seminars for students across all degree colleges in Islamabad.

SECP Chairman Akif Saeed highlighted the crucial role of empowering youngsters with financial literacy, emphasizing the importance of them learning fundamental concepts like budgeting, saving, investing, and debt management from an early age.

He pointed out that awareness of financial risks and responsibilities is key to reducing vulnerability to financial pitfalls, such as debt accumulation and poor investment choices.

Mohyuddin Ahmad Wani, the Special Secretary of Federal Education and Professional Training, reiterated the government’s steadfast commitment to advancing financial literacy initiatives.

He emphasized the significance of integrating financial education into secondary and higher secondary level curricula to provide students with practical financial knowledge.

Wani also underscored the pivotal role of a financially literate youth population in driving economic growth through fostering a culture of savings, investment, and entrepreneurship.