30 August 2019

Alliance Bank AEIOU Challenge Starts Children on Smart Money Habits

Press Release
30 August 2019

Alliance Bank AEIOU Challenge Starts Children on Smart Money Habits

Press Release

New Game Challenge and Train-the-Trainers programme enhanced to widen its reach; the AEIOU Challenge puts up cash prize pool of RM20,000.

Kuala Lumpur, 30 August 2019 - Alliance Bank Malaysia Berhad (“Alliance Bank” or the “Bank”) kicked off its Season 5 of the AEIOU Challenge today with a much broader coverage of the school system and a brand new digital game (“Game Challenge”).

Alliance Bank’s Group Chief Executive Officer Mr. Joel Kornreich said, “The AEIOU Challenge aims to increase the impact of financial education initiatives. This year, we are expanding the programme reach to 420 schools from 50 schools previously, and improving the programme to be one that is inclusive, regardless of the children’s drawing skills, with the introduction of the Game Challenge.”

The annual programme comprises the financial literacy education and the AEIOU Financial Comic Strip Challenge (“Comic Challenge”). The Game Challenge, a games-based approach to learning for the children, is another avenue where children can challenge themselves on their financial literacy knowledge.

“We have also expanded our training for the teachers to a comprehensive half-day programme. This is to help train the teachers on financial management topics and encourage them to carry out their own workshops at their respective schools.”

This year’s AEIOU Challenge carries the theme, “How smart spending habits help my family build our future”.

For the AEIOU Challenge Season 5, the Bank will conduct roadshows on financial literacy sessions for schoolchildren aged between 9 and 12 years old. The sessions, taught by trained educators, will help children learn how to manage money well by way of a good savings plan and prudent spending. They can also learn more about financial management by reading an eight-part comics available online at www.alliancebank.com.my/aeiou.

To test their knowledge about smart financial habits, children can choose to either participate in the Comic Challenge by submitting their creative comic strip artwork, or compete in the Game Challenge.

A prize pool amounting to RM20,000 in cash awaits winning students of the Comic Challenge and Game Challenge. The school with the highest number of participants also stand to win a prize for their school development fund, while committed teachers who step up to champion this financial literacy education will also be rewarded for their efforts. The Bank aims to double the total submissions received this year to 30,000, surpassing the total submissions combined for the past four seasons.

The Train-the-Trainers initiative will equip school teachers with training and educational tools to champion financial literacy education at their respective schools. This year, the Bank plans to enlist 420 teachers for the initiative, and work alongside them to accomplish set milestones. Train-the-Trainers is critical for the long-term sustainability of financial literacy education.

Alliance Bank’s AEIOU Challenge began in 2015. It supports the aspiration of the nation of having financially-wise consumers by enhancing the knowledge of Malaysians on good money management. The programme has since grown from strength to strength with the support of Bank Negara Malaysia and the Ministry of Education.

In 2017, Bank Negara Malaysia awarded the AEIOU Challenge with two regional awards for Best Financial Literacy Programme for Primary Schools, while the Ministry of Education Malaysia endorses the programme. The initiative exemplifies a successful partnership between public and private sectors to advance the national agenda of financial literacy.

The AEIOU Challenge is aligned with the National Strategy for Financial Literacy 2019-2023, and addresses its strategic priority of nurturing values from young and inculcating positive financial management behaviour.

The submission closing dates for the Comic Challenge and Game Challenge are on 27 October 2019 and 20 October 2019 respectively.

Further information on Alliance Bank’s AEIOU Challenge is available at www.alliancebank.com.my/aeiou.

Mr Joel Kornreich, Group CEO of Alliance Bank showing the coffee table book on AEIOU Challenge to Encik Zainal bin Abas, Director of Sports and Arts Education Division of the Ministry of Education Malaysia, and Mr Navinderan Mageswaran, CEO of Spark Capital Development Berhad.

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 Bank provides easy access to its broad base of customers throughout the country via multi-pronged delivery channels which include retail branches, Privilege 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:

Louisa Harrison

Alliance Bank Malaysia Berhad
Tel: 03-2604 3379
Email: louisaharrison@alliancefg.com