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Alliance Bank empowers Young Malaysians to Save

Kuala Lumpur, 24 July 2017 – The Alliance Bank AEIOU Financial Comic Strip Challenge (“AEIOU Challenge 3”), Malaysia’s first and only Financial Literacy Comic Competition, will continue its commitment to impart ‘Smart Financial Habits’ to instil the habit of saving among Malaysia’s primary schoolchildren aged between nine and 12.

According to the latest Nielsen Global Survey of Consumer Confidence and Spending, 59% of Malaysians said they would set aside spare cash for savings. Malaysia is ranked 10th place globally in this sphere, above the global average of 50%.

“It is good to know that more than half of Malaysians understand the importance, and necessity, of saving money. At Alliance Bank, we want to continue to help drive home this message and encourage prudent financial management from a young age,” said Mr. Joel Kornreich, Group Chief Executive Officer of Alliance Bank.

“As part of our commitment, we are pleased to launch the third instalment of the AEIOU Challenge to educate and encourage schoolchildren to proactively apply the important values of saving, planning, and spending carefully. This year, we have refreshed some elements of the Challenge’s format to keep it interesting,” he added.

 
 
 
 

Mr. Joel Kornreich, Group Chief Executive Officer of Alliance Bank Malaysia Berhad (left), with YB Dato’ P. Kamalanathan a/l P. Panchanathan, the Deputy Minister of Education I, Ministry of Education of Malaysia, at the launch of the AEIOU Challenge 3. .

 
 
Category Prize 
NATIONAL
Best Edu-Comic
Best overall comic presentation
RM5,000 cash + trophy + certificate
Best Artwork Edu-Comic
Best drawing/design skills of the comic
RM1,000 cash + trophy + certificate
Best Storyline Edu-Comic
Best plot/method of comic narration
RM1,000 cash + trophy + certificate
Most Favourite Edu-Comic
Most votes by audience
RM1,000 cash + trophy + certificate
Best Character Design
Best characterization, process of conveying information about characters
RM1,000 cash + trophy + certificate
Most Creative Edu-Comic
Best level of fresh/original look and feel of the comic
RM1,000 cash + trophy + certificate
School with Highest Participation
Highest number of submissions from a school
RM5,000 cash
STATE
State Top 10
Best edu-comics in each state
Certificate + Co-curriculum credits
 

The refreshed elements of this year’s Challenge include:

  • an extended one month to allow schoolchildren to plan and illustrate their 8-page comic booklet (instead of the usual 4-panel comic strip) that fully encapsulates the importance of saving, planning, and spending based on the theme “Smart Financial Habits”;
  • engaged learning via interactive video and audio learning booths, trainer-led workshops, and games with prizes that can be won on the spot at the school roadshows; and
  • an expanded award categories to reach a wider range of skill sets and talents.

This year’s Challenge will introduce eight new award categories to reward a wider range of skill sets and talents. The Challenge will also recognise the top ten students in each Malaysian state with a certificate and up to 17 co-curriculum credits which they can use towards applying for entrance into specialised schools and local universities later.

“We are proud to support Alliance Bank’s AEIOU Challenge for the third year. The Ministry of Education remains committed to the development of initiatives that can assist young Malaysians to become a responsible and smart generation. Education plays an integral role in this effort as knowledge including financial education provides important life skills. Apart from teachers and parents, the community across varied industries can play a part in nurturing the young and preparing them for a brighter future,” said Dato’ P. Kamalanathan, Deputy Minister of Education I, Ministry of Education Malaysia, who officiated the launch of AEIOU Challenge 3.

With the support of the Ministry, as well as industry partners, Spark Capital Development Berhad (previously known as Wilra Malaysia Berhad), and official stationery partner, Faber-Castell (M) Sdn. Bhd, Alliance Bank will be visiting 80 national schools in Peninsular Malaysia, Sabah, and Sarawak to promote the AEIOU Challenge. This includes sharing sessions hosted by teachers with learning materials provided by Alliance Bank.

Bank Negara Malaysia’s financial capability and empowerment programme emphasises financial education initiatives that are relevant throughout one’s different life stages. At the school level particularly, the importance of budgeting and saving is stressed, whereby education on opening a bank account to keep savings and manage pocket money is encouraged. These are some elements that are embedded in the learning objectives for AEIOU Challenge 3.

Since its inception in 2015, the AEIOU Challenge has visited 80 schools, garnered the participation of more than 25,000 students, and received a total of 13,500 comic submissions.

Malaysian schoolchildren aged between nine and 12 are invited to submit a drawing of their 8-page comic booklet which reflects the theme of “Smart Financial Habits” from now until 15 September 2017.

For more information, please visit www.alliancebank.com.my/aeiou or email aeiou@alliancefg.com.

= END =
About Alliance Bank Malaysia Berhad
Alliance Bank Malaysia Berhad and its subsidiaries, Alliance Investment Bank Berhad and Alliance Islamic Bank Berhad, is a dynamic, integrated financial services group offering banking and financial solutions through its consumer banking, SME banking, corporate and commercial banking, Islamic banking, investment banking and stockbroking businesses. The Group provides easy access to its broad base of customers throughout the country via multi-pronged delivery channels which include retail branches, Privilege Banking Centres, Islamic Banking Centres, Business Centres, and Investment Bank branches located nationwide, as well as mobile and Internet banking.

For more information on the AEIOU Challenge, please contact Agnes Ong at Tel: (03) 2604 3378 or e-mail at agnesong@alliancefg.com.

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