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Malaysia ups ante on financial advice

The Malaysian Ministry of Finance has launched a regional retirement and financial advice program for members of the government-backed Employees Provident Fund.

The program – which is aimed at raising financial literacy awareness in the Southeast Asian country – will first be piloted in the Klang Valley region before being rolled out nationwide, the Borneo Post has reported.

EPF chief executive Datuk Shahril Ridza Ridzuan said the government would be partnering with other institutions in launching the service.

“We will be working hand in hand with other agencies such as Credit Counselling and Debt Management Agency and Bank Negara Malaysia to get the right training for our people,” he said.