Alliance Bank’s AEIOU Challenge “Banking” On Teaching Kids How To Save

PUTRAJAYA: Alliance Bank’s annual AEIOU Financial Comic Strip Challenge is back. Already in its third instalment, the smart financial outreach programme targets 7,500 primary schools nationwide, including in rural areas, to foster good saving habits among school children.

Backed by the Education Ministry, the comic drawing competition also helps students improve their command of English.

“The competition is held in English. So the kids will have to use a lot of English and it will help them with the language. On top of that, we teach them about good financial habits,” said Deputy Education Minister Datuk P. Kamalanathan at the programme’s launch at his ministry today.

He said that the Education Ministry remains committed to developing initiatives that can assist young Malaysians become part of a responsible and smart generation. “The interactive activities that the AEIOU Challenge has with students give them confidence.

They are able to tell their friends at school to keep their money to buy, let’s say, birthday presents,” he said.

According to group chief executive officer of Alliance Bank, Joel Kornreich, the latest Nielsen Global Survey on Consumer Confidence and Spending shows that 59 per cent of Malaysians put aside their spare cash for savings – a figure above the global average of 50 per cent. “It’s good to know that more than half of Malaysians understand the importance, and the necessity of saving money,” he pointed out.

“At Alliance Bank, we want to continue to help drive home this message and encourage prudent financial management from a young age,” he said.

The AEIOU Challenge helps school children understand the importance of financial concepts and cultivates the habit of living within one’s means. Since its inception in 2015, the organising committee has visited 80 primary schools and attracted the participation of 25,000 kids throughout the country.

The challenge rewards the best comic child artist with RM5,000 in cash. The school with the highest participation also walks away with a RM5,000 cash reward.

Malaysian school children between the ages of nine and 12 are invited to submit a drawing of their eight-page comic booklet, which reflects the theme of “Smart Financial Habits”.

The deadline for the contest is Sept 15, 2017.

-NST

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