KUALA LUMPUR: Banking institutions in the country should launch more awareness campaigns and education programmes to teach Malaysians the importance of saving.
Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi said this was important as Malaysia is heading towards a developed country status by 2020.
Speaking to reporters today, he said the level of saving habits among Malaysia was still low compared to countries such as South Korea and Japan.
“By inculcating saving habits in Malaysians, the government can resort to less foreign borrowing. Right now, most are practising forced savings such as Employees Provident Fund (EPF), Tabung Haji (TH) and cooperatives."
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