Financial literacy is important in Brunei Darussalam’s development and key to financial freedom to enable people to manage their finance wisely, avoiding over-indebtness and making sound financial decisions in their daily lives, said Minister at the Prime Minister’s Office and Minister of Finance and Economy II Dato Seri Setia Dr Awang Haji Mohd Amin Liew bin Abdullah. He said this during the launch of the 5th Brunei Darussalam Central Bank (BDCB) Financial Fun Fair yesterday.
He shared that financial literacy helps achieve a life without the burden of financial problems, which is closely related to strengthened potential income, with online or digital finance enabling individual and business productivity.
The minister added that financial literacy allows entrepreneurs to control operational costs and make good return investment and grow businesses.
Dato Seri Setia Dr Awang Haji Mohd Amin Liew said making good financial decisions enable prudent spending, leading to economic stability. Wise investment mobilises funds to more productive sectors contributing to innovation and increase in productivity. This enables businesses to grow and create more job opportunities, reduce unemployment and increase household income.
“With better financial management, individuals and businesses can be better prepared for economic uncertainty. Knowledge and positive behaviour will further contribute to economic growth and stability of the country,” said the minister. – James Kon
