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The Securities and Exchange Commission of Pakistan (SECP) took a significant step on Tuesday (March 5) by signing a Memorandum of Understanding (MoU) with the Ministry of Federal Education and Professional Training to promote financial literacy among students attending federal educational institutions.

SECP Chairman Akif Saeed and Special Secretary of Federal Education and Professional Training Mohyuddin Ahmad Wani inked the MoU, signalling a collaborative effort towards this noble cause, said a press release.

Under the MoU, financial literacy topics will be seamlessly integrated into the curriculum of federal government schools and colleges. Moreover, educators will be equipped with necessary skills through a dedicated teacher’s training programme. Interactive seminars will also be conducted for students across all degree colleges in Islamabad.

SECP Chairman Akif Saeed emphasised the critical importance of empowering youngsters with financial literacy. He underscored the necessity for students to grasp fundamental concepts like budgeting, saving, investing, and debt management from an early age. Such awareness, he noted, reduces their vulnerability to financial pitfalls, such as debt accumulation and poor investment choices.

Mohyuddin Ahmad Wani, the Special Secretary of Federal Education and Professional Training, reiterated the government’s unwavering commitment to advancing financial literacy initiatives. He stressed the significance of integrating financial education into secondary and higher secondary level curricula. This integration aims to equip students with practical financial knowledge, ultimately fostering a financially literate youth population capable of driving economic growth through savings, investment, and entrepreneurship.