Logo of Phnom Penh Post newspaper Phnom Penh Post - Finance curriculum to be in schools by 2019

Finance curriculum to be in schools by 2019

Students at Phnom Penh’s Sisowath High School prepare to take a test in 2015.
Students at Phnom Penh’s Sisowath High School prepare to take a test in 2015. Hong Menea

Finance curriculum to be in schools by 2019

The central bank announced yesterday that it was close to finalising a new academic curriculum to promote financial literacy with the aim of incorporating it into schools nationwide by the start of the 2019 academic year.

Speaking yesterday at a technical workshop on financial education in the Kingdom’s schools, Chea Serey, director-general of the National Bank of Cambodia (NBC), said the new curriculum would help raise students’ knowledge of financial literacy at an early age.

She added that the new curriculum was still being drafted and it would take time to finalise as the NBC intends to hold a series of consultation meetings and workshops with teachers in order to get feedback on how to best introduce the materials into lesson planning. Additionally, she said teachers would also be required to attend training courses to fully understand the value of the curriculum.

“We expect that this programme will help students learn how to calculate basic interest rates and understand their obligations [when using financial services] as well their rights,” she said.

Serey stressed that with nearly two-thirds of the Cambodian population under the age of 30 it was important to improve the financial literacy of youth. This would help bring them into the formal financial sector, which would play a significant role in boosting overall economic activity.

“The Cambodian financial sector very much needs the participation of young people and thus young people should be educated well on the concept of financial management,” she said.

The NBC has been working with officials from the Ministry of Education, Youth and Sports (MoEYS), as well as development partners, to design a curriculum that will teach the concepts of savings, loans and financial management tools to students in the primary and high school levels.

Mok Sarom, deputy director-general of education at MoEYS, said the curriculum would be integrated into three existing subjects that include mathematics, home economics and life skills.

“We are trying to grow knowledge of the financial sector by teaching children to manage their money well and educate them to appreciate the meaning of savings,” he said.

“When we have a clear financial plan, life will be successful and we will enjoy prosperity.”

In March, the NBC launched its “Let’s Talk Money!” campaign, a set of instructive comic books given out to primary schools nationwide. The books were developed in cooperation with Good Return, an Australian NGO that promotes financial inclusion and responsible lending.

MOST VIEWED

  • Ministry requests school opening

    The Ministry of Education, Youth and Sport on Thursday said it would request a decision from Prime Minister Hun Sen to allow a small number of schools to reopen next month. Ministry spokesman Ros Soveacha said if the request is granted, higher-standard schools will reopen

  • Judge lands in court after crashing into alleged thief

    Sen Sok district police on Thursday sent a Koh Kong Provincial Court judge to the Phnom Penh Municipal Court on manslaughter charges after he crashed his car into a woman riding a motorbike on Wednesday, killing her. District police chief Hour Meng Vang told The

  • Gov’t to boost Siem Reap tourism

    The Ministry of Tourism released the results of an inter-ministerial committee meeting concerning Siem Reap province’s Tourism Development Master Plan for 2020-2035 on Wednesday, revealing the government’s plan to improve the overall tourist landscape there. The meeting was attended by Minister of Tourism

  • Government set to make up for cancelled April holiday

    The government is set to make up for a five-day Khmer New Year holiday late this month or early next month. The holiday was earlier cancelled due to the onset of Covid-19. The announcement is expected on Friday as the government is studying a range

  • Crumbling prices, rent ruffle condo segment

    The prolonged decline in international arrivals to Cambodia intensified by renewed Covid-19 fears has driven down condominium sales prices and rental rates in Phnom Penh, a research report said. CBRE Cambodia, the local affiliate of US commercial real estate services and investment firm CBRE Group

  • Over $3M in traffic fines collected in two months

    Traffic police officers collected over $3 million in fines throughout the Kingdom during the past two months when officers strictly enforced the law in accordance with a May sub-decree, officials said. As incentives, law enforcement officers received between 200,000 and two million riel ($50 to $500) each. The figures

  • More than 10,000 workers suspended

    More than 10,000 workers at 18 factories in Svay Rieng province have been suspended because of Covid-19, said provincial deputy governor Ros Pharith. Home to 11 special economic zones, Pharith said Svay Rieng has not been spared as the pandemic takes a toll on the global economy. “There

  • Nod given for school exams

    The Ministry of Education, Youth and Sport announced that State-run higher educational institutions can hold examinations to end the academic year, while private schools can organise grade 9 and grade 12 examinations at their premises for two days. However, private institutions have to take measures to prevent

  • Kingdom’s exports to US mushroom 25.94% in first five months to $2.4B

    Though Cambodia’s exports to other countries have been stalled amid the evolving Covid-19 environment, the Kingdom’s shipments to the US were worth 25.94 per cent more in the first five months of this year than they were in the year-ago period. Bilateral trade between

  • Oz lauds Kingdom’s passage of money laundering laws

    In a press release published by the Australian embassy in Phnom Penh on Monday, the country applauded Cambodia’s stance on transnational crimes as well as its promulgation of an anti-money laundering law and a law on combating proliferation financing. The praise came after King