HSBC Celebrates One Decade of Commitment on Financial Literacy Initiatives

Apr 17, 2018 – Prestasi Junior Indonesia (PJI) together with HSBC Indonesia has recently introduced a new curriculum for the JA More than Money program. This initiative focuses on financial literacy and understanding of entrepreneurship and is specially designed for Junior High School students. To celebrate its launch, students visited the Bank HSBC World Trade Centre branch in Jakarta on Tuesday (17/4). Coinciding with the 10th anniversary of the JA More than Money program, the new More Than Money undertaking continues the commitment of improving financial literacy understanding amongst the nations young by HSBC and it’s corporate volunteers.

The 2016 National Survey on Financial Literacy, conducted by the Financial Services Authority (OJK), revealed that only 29.7 percent of Indonesians have a complete understanding of financial products and services. The JA More Than Money Program seeks to contribute to an improvement in understanding of financial management with the assistance of 789 HSBC volunteers, by classroom engagement and assisting students understanding during bank visits over a period of ten years. To date this innovative financial literacy program has successfully reached 23,177 Junior High School students in 11 cities in Indonesia, as well as involving 216 teachers from 118 schools.

Apart from receiving in-class learning, the participants of JA More than Money also have the opportunity to visit some HSBC Bank branch offices across Indonesia. They can see and experience banking activities, such as money deposits, money withdrawal from ATM machines, and foreign currency exchange.

Robert Gardiner, Management Advisor of Prestasi Junior Indonesia, stated: “Through this program, we would like to equip the younger generation with basic knowledge about finance and entrepreneurship. Children will then be able to make informed financial decisions benefitting themselves, their family and their community. Bank visit activities are a fantastic opportunity for young Indonesians to be introduced to the role provided by the banking industry within our communities. For many, this is the first time they have stepped into a bank although they may have passed by them thousands of times. During the engagement, students participate in mock banking procedures with the support of HSBC personnel and they come away from the experience with a much better understanding of how banks function and benefit society.“

Through hands-on learning and children-friendly characters used as finance and entrepreneurship symbols, the JA More than Money New Curriculum teaches students how to manage money wisely, to make the right financial decisions, as well as to practice business development. As an end result of this program, students will be able to identify the role of money in day-to-day life, understand the initial step of becoming an entrepreneur and running a business, analyze profits and losses when lending money, as well as seek business opportunities in the global market.

“Equipping the young generation with financial knowledge is part of our sustainable commitment because they are our future. Through this activity, students not only learn about how to manage money, but also how to earn it. As a bonus, they also get knowledge about how a bank operates. In addition, they also meet with workers who can inspire them. Generally, it is hoped that all of these activities will help to shape their aspirations for the future,“ said Nuni Sutyoko, Head of Corporate Sustainability of HSBC Indonesia.

As one of the biggest banking and financial service organizations in Indonesia, HSBC is committed to always contributing to increasing society’s welfare by pushing financial literacy in a better direction in the country. For 10 years, HSBC has been collaborating with Prestasi Junior Indonesia to implement the JA More than Money, since the program was first launched in 2008. These financial literacy programs between PT Bank HSBC Indonesia and PJI will always continue, not merely aimed at Junior High School students, but also for Elementary School students through the Anak Cerdas (Smart Kid) program, which will expand the implementation of financial management introduction program through tablet games.

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