Investor Education Centre Launches Financial Education Champion Award to Promote Financial Literacy
34 organisations recognised for their efforts in providing quality financial education initiatives
22 November 2018
The Investor Education Centre (IEC) announced the recipients of the Financial Education Champion (FEC) award, in a ceremony held yesterday, to recognise the efforts and commitment of organisations that provided quality financial education to the Hong Kong public from the period 1 July 2016 to 30 June 2018.
In line with the Hong Kong Strategy for Financial Literacy (HKSFL) to support and promote financial literacy and learning opportunities, IEC established the FEC award to encourage and mobilise stakeholders across various sectors to get involved. These include funding, organising events, disseminating educational materials that are non-profit making in nature to help the public from various demographic groups make well-informed financial decisions.
In a stock-take conducted by the IEC comparing financial education initiatives across two three-year periods between 2011-2014 and 2015-2018, the total number of initiatives offered increased by 21% from 555 to 674. The number of organisations involved went up by 28% from 201 to 278.
For 2015-2018, the number of financial education initiatives provided by NGOs went up by 8 percentage points to 29%, when benchmarked against the 2011-2014 period. Activities offered by government departments and public bodies more than doubled from 11% to 25%. Tertiary institutions and financial regulators have also become more active in offering financial education initiatives. There was a rise in the provision of segment-targeted and tailored financial education content which led to more relevant and impactful programmes for the beneficiaries.
The award submissions covered a wide range of important and practical topics including saving, debt management, retirement planning, MPF and investing.
IEC Chairman Mr Lester Huang said, "We are heartened to note that increasingly more organisations are playing active roles to foster and advance financial literacy in Hong Kong. Together with the support from all stakeholders, we can collectively enrich the financial education landscape with more content-rich resources and widen our reach to make financial education more accessible and pervasive in Hong Kong."
The judging panel of the FEC comprised of the HKSFL Steering Committee members. To qualify for the award, the initiatives must be non-profit making in nature. Organisations were assessed based on their contribution towards the improvement of the financial literacy level of the general public and impact to the audience.
Click here for the list of awardees.