Group 5 ($et for Life) recently launched a financial literacy platform in collaboration with Big BWN Project, a non-profit organisation, and BR-Kelvin Pong financial consultant Kelvin Pong Ming Onn.
The event was part of the community outreach programme (COP) by officers from the 31st Executive Development Program for Middle Management (EDPMMO), organised by Universiti Teknologi Brunei (UTB).
The project took off as a two-day workshop on February 11 and 18 at the iCentre Auditorium of DARe (Darussalam Enterprise), aiming to educate youth on cash management.
Participants were imparted with financial tools that could be implemented to manage their income and finance effectively in the short and long term. During the workshops, participants outlined their current financial situation and were guided through important concepts in financial literacy, including emergency fund, financial priorities and goals, debit and credit management, and developing personalised cash management and budgeting plans.
Group 5 $et for Life: 31st EDPMMO said that the main objective of the COP is to provide a sustainable platform to continuously educate the community on sustaining financial well-being through effective income and financial management to improve capability in financial decisions.
The group said this is in line with the Friday sermon on February 4 titled ‘Wisdom in financial management,’ and on January 21 titled ‘The obligation to settle debts,’ both of which highlighted the importance of properly managing income and expenditure. In general, financial literacy supports the implementation of Maqasid Al-Syariah, particularly on the aspect of ‘preservation and promotion of wealth.’
To sustain the COP initiative further, a memorandum of understanding (MoU) was signed between Kelvin Pong and Big BWN Project Director Noorhafizah binti Haji Rashid to ensure the workshop will be carried out annually for the next five years under the flagship of Big BWN Project.