Prudential Launches Levela To Boost Financial Literacy Among Young People

KUALA LUMPUR, Oct 30 (Bernama) -- Prudential Malaysia has launched Levela, a free financial education platform specifically designed to equip young adults with the knowledge and skills to manage their personal finances and make informed financial decisions.

Deputy Finance Minister Liew Chin Tong officiated the launch, highlighting Prudential's continued commitment to building financial resilience in society, backed by more than RM179.5 million in investments in corporate responsibility and financial inclusion programmes from 2014 to 2025.

Prudential Assurance Malaysia Berhad (PAMB), Prudential BSN Takaful (PruBSN) and Eastspring Investments Malaysia (EIMY) jointly channelled the investment into initiatives covering financial education, community protection and financial security.

Liew said the country's financial resilience depended not only on government policies but also on the financial decisions individuals made in their daily lives.

He said young people face increasingly complex financial challenges, including managing their first income, using credit, navigating Buy Now, Pay Later (BNPL) facilities, and avoiding online scams.

"The way we save, borrow, protect ourselves and invest shapes our ability to cope with unexpected challenges and make decisions today that give us more options in the future," he said, adding that financial education should extend beyond theoretical knowledge and equip people with the skills to put what they learn into practice in their daily lives.

Meanwhile, Prudence Foundation Executive Director Nicole Ngeow said Levela was designed to help young adults make more informed decisions about spending, saving, borrowing and protecting themselves against financial risks.

"By making financial education accessible, practical and relevant, we hope to help the next generation develop healthier financial habits and take responsibility for their financial future," she said.

Levela, which targets university students, young professionals and individuals working towards financial independence, is available free of charge via its website and mobile app in six languages, with Syariah-compliant content offered in Malay and English.

Supported by research from the Centre for Financial Inclusion at Accion, Levela covers six key areas: budgeting, savings and emergency funds, debt management, insurance and takaful, financial planning, and digital fraud prevention.

It also offers an offline access mode, allowing low-income groups and communities with limited access to digital facilities to benefit from the platform.

Levela complements the Prudence Foundation's Cha-Ching financial education programme, introduced in 2016 for schoolchildren, which has benefited more than 4.8 million students across Asia and Africa to date.

-- BERNAMA