Empowering Youth for a Smarter Financial Future

In an era of rapid digital transformation, financial literacy has become a cornerstone for youth empowerment in Cambodia. With mobile payments, online banking, and investment platforms reshaping the financial landscape, young people need more than access—they need knowledge.

“Our youth are entering a world of digital payments, credit, and investment opportunities. Without the right knowledge, they risk falling into debt or missing chances to build wealth,” said Bunthe Hor, Deputy CEO of Wing Bank.

The bank partnered with Kot Luy to launch the “Youth & Money” initiative in October 2024. The program aims to reach over 5,000 students from TVET institutions and universities across eight provinces, equipping them with essential financial skills to thrive in an increasingly digital economy.

“By empowering young Cambodians with practical financial skills—budgeting, saving, and planning for the future—we are not just shaping responsible individuals; we are investing in the nation’s economic resilience and growth,” Bunthe Hor added.

As part of its commitment to financial empowerment, Wing Bank introduced the Save for Goal account, designed to help users achieve their financial objectives gradually while earning interest to grow their wealth.

“Saving is important at every stage of life. For youth, it helps them plan, stay disciplined, and achieve their goals,” Bunthe Hor added. “That’s why we created Save for Goal—to make saving simple, rewarding, and accessible.”

The Save for Goal account allows individuals to create personal or joint savings accounts, with the flexibility to add funds anytime—daily or monthly. Customers can earn an interest rate of up to 5% per annum, helping them reach their financial goals faster.

“A simple way for young people to build a strong financial future is to start by creating a clear budget, saving before spending, understanding how credit works, using digital banking tools responsibly, and setting achievable financial goals. These habits will help them gain confidence, independence, and long-term success,” Bunthe Hor added.

Financial literacy for all

On February 1, 2024, Yim Leat, NBC deputy governor, and Kim Sethany, Secretary of the Ministry of Education, Youth and Sports, signed a Memorandum of Understanding to set up the Project on Embedding Financial Literacy into School Curriculum-Phase 3.

The project, which runs from 2024 to 2026, and implemented in grades 5 to 12, enables students to understand concepts related to savings, lending and financial management by integrating topics within core subjects, including mathematics, morality-civics and life skills.

NBC Governor Chea Serey has previously said that incorporating financial literacy in the educational system cultivates a sense of responsibility, thoughtfulness, and problem-solving abilities, stressing that it provides an edge to people's achievement.

“The embedding of financial literacy is a long-term investment since it not only assists individuals in making the right decision in finance, but also contributes to the welfare and stability of our society,” she said.

NBC promotes financial literacy through its National Financial Inclusion Strategy 2019-2025 by partnering with ABC, Cambodia Microfinance Association (CMA), and other development groups.

The programmes include Let's Talk Money, Financial Street, Promoting Financial Literacy for Women and Women Entrepreneurs, Banking Sector Programme for Economic Literacy, and financial literacy in school curriculum.

This article was originally reported by Kiripost. Read the full story here.