Brunei

2019 Brunei Darussalam Global Money Week

LEADING ORGANISATIONS:

  • Ministry of Education Brunei Darussalam, Employees Trust Fund, Autoriti Monetari Brunei Darussalam, Financial Planning Association of Brunei Darussalam

PARTICIPATING ORGANISATIONS:

  • 10 Media Organisations, 21 Schools, Radio Television Brunei (RTB)

NUMBER OF CHILDREN REACHED DIRECTLY:

  • 500

NUMBER OF PEOPLE REACHED INDIRECTLY:

  • 576 663

Ministry of Education Brunei Darussalam
In Brunei Darussalam, GMW2019 was opened with Financial Literacy Quiz Competitions and an Award Ceremony. Throughout the Week, three activities were conducted, namely the Financial Literacy Quiz Competition, workshops, and a Comic Illustration Competition. The objective of the Financial Literacy Quiz was to raise awareness on financial education from an early age, to develop the knowledge of young people on financial education, and to improve children’s skills in line with the needs of the Industrial Revolution 4.0. The activities included the usage of teamwork, communication skills, problem-solving skills, and decision-making skills. The event was based on the GMW theme, “Learn.Save.Earn”. The Financial Literacy Workshop highlighted the importance of differentiating wants and needs, as well as the advantage of savings in financial institutions. One of the activities, “Big Dream”, exemplified what would happen when students were adults with a steady income, to highlight what they would need to do to achieve the goals they might have. The Comic Illustration Competition was open for youth aged 15 to 25 years old, where they had to create a 3 to 6 panel Comic Strip, to promote and illustrate the importance of Financial Literacy. The winners were provided with money to be put into a savings account. In order to increase the number of people reached indirectly this year, Brunei Darussalam organised a national Quiz Competition, which was broadcasted on national TV.

2018 Brunei Darussalam Global Money Week

LEADING ORGANISATIONS:

  • Ministry of Education & Autoriti Monetari Brunei Darussalam (AMBD)

PARTICIPATING ORGANISATIONS:

Brunei Association of Banks (Bank Islam Brunei Darussalam, Baiduri Bank and Perbadanan Tabung Amanah Islam Brunei, Standard Chartered), Brunei Insurance Takaful Associations – Takaful Brunei and Insurance Islam (TAIB), Financial Planning Association Brunei Darussalam, Government and Private schools, Radio Television Brunei (RTB), The Curriculum Development Department or the Ministry of Education

NUMBER OF CHILDREN REACHED DIRECTLY:

  • 491

NUMBER OF PEOPLE REACHED INDIRECTLY:

  • 385 393

Ministry of Education & Autoriti Monetari Brunei Darussalam (AMBD)

Global Money Week continued to be celebrated this year in Brunei Darussalam. Activities and competitions primarily geared for students of primary and secondary schools were arranged and organised by the Curriculum Development Department of the Ministry of Education collaborating with Autoriti Monetari Brunei Darussalam (AMBD).

Global Money Week was packed with visits to Currency Gallery, AMBD, and financial institutions including banks (Perbadanan Tabung Amanah Islam Brunei (TAIB), Bank Islam Brunei Darussalam, Baiduri Bank) and insurance companies (Insurans Islam TAIB and Takaful Brunei Keluarga (TBK). A total of 22 secondary schools and 15 primary schools took part in the visits. During the visits, students had the opportunity to listen to financial education talks and join financial education-based activities. One of the important lessons they learnt was recognizing the difference between ‘needs’ and ‘wants’ to guide them in making wise financial decisions. Additionally, the children were able to observe the working of financial institutions and how banks operate.

Visits to Legislative Council Meeting were also organised for the students to develop understanding on policy-making process in Brunei Darussalam and the impact these decisions have on practice. The students had a first-hand experience of listening to the meeting of the 14th Legislative Council (LegCo) session at the LegCo Building. The discussions were on issues paramount to the country’s economic progress and the wellbeing of the people. The LegCo is an avenue for the country’s citizens and residents to voice their ideas, suggestions, opinions, and issues through appointed members by the means of discussions and deliberations that adhere to Brunei’s traditional concept of enhancing and strengthening relations between the people and the government.

In accordance to Global Money Week theme “Money Matters Matter”, a class activity known as Care package “What I Can Buy With $5” was also carried out. In this activity, 80 primary school pupils from 16 different schools explored what they could buy with BND$5 and swapped the information with their friends. After this activity, the pupils then connected with a school from Singapore to share their findings. The activities helped to familiarize the concept of a different purchasing power for each country.

A Banner Making Competition was opened for secondary school students based on the theme ‘Money Matters Matter’. The competition was won by Chung Hwa Middle School. Through this competition, the participating students showcased their creativity and encouraged their peers to have a better understanding on financial education.

Financial Explo-race, a race challenging students’ financial knowledge, was held in conjunction with Global Money Week. The objective of this activity was to introduce to the players/ students the need and importance of budgeting as well as the need to have a financial plan at the earliest stage. In this race, 20 teams of 5 students each, must visit all the 5 stations answering questions that are related to financial education awareness such as savings, investment risk, insurance need, and retirement savings. At the final station, the students gave a presentation justifying their budget and then had a short discussion with the judges on what can be improved, as well as finding out things they learnt from the game.

2017 Brunei Darussalam Global Money Week

LEADING ORGANISATIONS:

PARTICIPATING ORGANISATIONS:

NUMBER OF CHILDREN REACHED DIRECTLY:

  • 2 100

NUMBER OF CHILDREN REACHED INDIRECTLY:

  • 106 000

Aiming to create and raise awareness on saving and financial literacy among the community, Brunei once again celebrated Global Money Week in 2017, led by the Ministry of Education and the Ministry of Finance Employees Trust Fund (TAP), with the support of Bank Islam Brunei Darussalam (BIBD).

Institutions involved in making Global Money Week a success this year also included Baiduri Bank, Standard Chartered Bank, Tabung Amanah Islam Brunei, Junior Achievement Brunei and Persatuan Perancang Kewangan Negara Brunei Darussalam (Financial Planning Association Brunei Darussalam).

In celebrating Global Money Week 2017, various activities pertinent to the theme ‘Learn, Save, Earn’ were organised. One of the activities was Basic Financial Planning Competition which was opened to the secondary schools. This competition required teams of students, with the help of assigned mentors, to prepare financial planning based on the financial scenario given to them. The GMW celebrations in Brunei were also fortunate enough to have Certified Financial Planners from Bank Islam Brunei Darussalam (BIBD), Baiduri Bank, and Standard Chartered Bank, Brunei to be the students’ mentors. This competition aspired to educate students on the application of financial education in their everyday life, as well as to shape them into a generation that makes responsible and wise financial decisions.

A 1-minute Instagram video competition on the theme ‘Learn, Save, Earn’ was opened to the public ranging from 12 to 24 years old. The participants were given the opportunity to use their creativity in producing a video related to the theme. Through this competition, participants were encouraged to research ways and information on managing money and better saving habits. Even better, they had the opportunity to share the knowledge they gained, and conveyed this to others through the videos they made.

One of the other highlights for Global Money Week in Brunei was the Financial Smart Showcase which was held for 2 days, on the 28th and 29th of March, 2017. The Guest of Honour for the event was the Director General of the Ministry of Education of Brunei. The event also witnessed the prize awarding ceremony of the Basic Financial Planning Competition and the 1-minute Instagram Video Competition, as well as the presentation from the top three teams, and videos from both competitions. During the showcase, financial games and quizzes for the public were designed by the participating institutions. The activities arranged were intended to make the public more aware of the importance of financial literacy and cultivate better money management skills.

Promotion of the activities occurred across local radio, television, websites and social media by the leading organisations.

In an effort to ensure the outreach goes beyond children and youth, an article in relation to the theme ‘Learn, Save, Earn’ was also prepared and featured in the local newspaper. Readers were then given the opportunity to learn valuable information and develop better saving habits in life.

2016 Brunei Darussalam Money Week

LEADING ORGANISATIONS:

PARTICIPATING ORGANISATIONS:

DATE OF THE EVENT:

  • 14th - 20th of March

TOTAL NUMBER OF CHILDREN AND YOUTH ENGAGED:

  • 1 700

TOTAL INDIRECT REACHED:

  • 2 000

Global Money Week in Brunei was led once again by the Ministry of Education, in partnership with other leading governmental authorities and financial services associations including the Ministry of Finance, Autoriti Monetari Brunei Darussalam (AMBD), Brunei Association of Banks (BAB), and Brunei Insurance Tafakul Association (BITA).

Visits to financial institutions were organised together with the Baiduri Bank, Bank Islam Brunei Darussalam, INsurans Islam Taib General Tafakul, and the Currency Gallery of the AMBD. During the visit to the banks, students got first-hand experience of what happens in a bank through the tour they took around the bank. Additional activities were also provided by the banks to further enhance the children’s knowledge. At the insurance company, students learnt about the basic concept of insurance through presentations and activities provided by the company. To complement their two visits, students also learnt about the history of currencies at the AMBD Currency Gallery, in addition to gaining a better understanding of one of the functions of a central bank. After the visits, students were asked to do group-writing to share their experience of the visit with other schools who have no opportunity to go for the visit.

Financial Education Lectures and Financial Planning Talks were also delivered by Certified Financial Planners from Bank Islam Brunei Darussalam and Baiduri Bank. This talk aimed for students to be financially equipped in managing their finances when starting their new life stage. The talk also allowed students to learn about money matters through interactive and hands-on activities. The talk was extended to art teachers because they were to lead a special lesson for students who will be participating in the poster competition.

Building on these talks, an art and poster competition was also organised. Year 5 students created and submitted posters on the theme: "I save because...", where the top 10 students were selected as winners and received prizes. The winning posters were showcased during the prize-giving ceremony on 17th March 2016.

Along these lines, theatre and plays with kids were also encouraged through the launching of a drama competition. Year 9 students challenged themselves to create 7-minute skits relating to money matters while incorporating the following words/concepts: budget; save; future; financial planning; loans; credits; needs vs wants. After the preliminary round, the top 3 skits were announced as finalists, where they competed for 1st, 2nd and 3rd place at the prize-giving ceremony on 17th March 2016.

Banking on more fun this year, a life-size board game was also organised by the Ministry of Education and the AMBD. A team of three Year 10 students competed with other teams in this life-size board game. This game involved students going through real-life situations, e.g. going to university, getting a job, getting married, having children, buying a house, buying a car, paying for insurance, etc. The winning team won a cash prize.

Addition to financial education, the Ministry of Education this year also launched an employment workshop for students. This activity involved the Ministry of Home Affairs, QAF Group, Wing it!, ARMTRIX, and Sweet as Sara. QAF Group's human resources manager discussed about the hiring processes of employers. Later the three entrepreneurs talked about their experience in starting a business and why they chose entrepreneurship over a full time job.

“We hope that the activities designed for GMW 2016 will help the students to develop an awareness on the importance of financial literacy in their lives in line with the Wawasan 2015 so that they will be able to make wise decisions for their future.” Statement from the Ministry of Education, Brunei Darussalam
"Thanks for organising the event. I am sure the information shared and the experience will help our students in developing a positive saving culture." School teacher, Brunei Darussalam
"Thanks MOE and AMBD for organising the event. This is one of our best experiences. Alhamdulillah we really enjoyed it..and learnt a lesson through the performance!" School teacher, Brunei Darussalam

2015 Brunei Darussalam Money Week

PARTICIPATING ORGANISATIONS:

DATE OF THE EVENT:

  • 9th - 17th of March

NUMBER OF CHILDREN REACHED:

  • 1 500

Led by the Ministry of Education, Brunei Darussalam furthered its commitment towards empowering children and youth as economic citizens through the celebration of Global Money Week this year while keeping in line with the current year’s theme of “Save Today. Safe Tomorrow”. Moreover, these initiatives were also supported by the Autoriti Monetari Brunei Darussalam and the Employee Trust Fund of the Ministry of Finance of Brunei Darussalam. The celebrations in Brunei included a series of events from the 9th to the 17th of March. These included talks on the differentiating between a need and a want, banner-making, and various avenues to discuss the importance of starting to save today to assure that there will be a safer tomorrow for the young people of Brunei.

Global Money Week in Brunei started with an enjoyable visit for the young children to the Currency Gallery of the Ministry of Finance where they were briefed on how money and coins are made. This was then followed by a visit to the Employees Trust Fund of the Ministry of Finance. At the end, the children had a fun-filled informative and interactive session with Certified Financial Planners from the Royal Bank of Canada, Bank Islam Brunei Darussalam (BIBD), Baiduri Bank, and the Centre for Islamic Banking, Finance and Management (CIBFM) of the Ministry of Finance. These talks were followed-up later in the week with discussions about needs and wants.

Secondary school students were also asked to share their thoughts through a banner-making competition on Global Money Week 2015 theme - “Save Today. Safe Tomorrow”. These banners were displayed during the closing ceremony of Global Money Week.

To connect the children with other young people around the world, a video-conferencing session with students from the Netherlands, Philippines and Russia was organised. This allowed the children to discuss what savings mean to them, how they envision their futures to be, and other matters that they were interested to learn from their peers from around the world.

These events are likely to benefit students in realizing different financial needs at different life stages and the financial responsibilities that come with it; from being a student, to working, to marriage life, to having a family and to living in retirement. Students also enhanced their life skills and knowledge on their subjects such as Mathematics, Economics, Principles of Accounts, Business Studies and Commerce.

During the closing ceremony, Brunei Darussalam's participating organisations organised a grand Financial ExploRace, focusing on the topic of a person’s life stages and the financial responsibilities that come with it. The main highlight of the event was the prize presentation for the Overall Winner of this year's Brunei Global Money Week. The banners were displayed at the Bio Corridor Park (Agro Park) which was earlier prepared by students during the banner-making contest.

The Guest of Honor was the Director of Curriculum Development Department of the Ministry of Education. He presented the trophy, a certificate, and a BAIDURI savings account to the overall winner.

2014 Brunei Money Week

PARTICIPANTS:

DATE OF THE EVENT:

  • 10th -17th of March

NUMBER OF CHILDREN REACHED:

  • 750

NUMBER OF CHILDREB REACHED THROUGH MEDIA:

  • 50 000

Ministry of Education, LiveWIRE Brunei, TAP and Autoriti Monetari Brunei Darussalam hosted a series of events during 10th-17th March to celebrate Global Money Week 2014 with students ranging from 7-24 years. Celebrations started with a visioning workshop on entrepreneurship, followed by financial talks, video-making competition, financial exploration games and visits to the currency gallery.

LiveWIRE BRUNEI conducted an entrepreneurship workshop designed for students, particularly those attending vocational/technical schools in order to raise awareness about financial independence and education for children and youth.

The Ministry of Education presented certificates to the students who participated in the workshop for Brunei Entrepreneurship Education Scheme (BEES).

The top 5 schools in Brunei enjoyed a video competition where they made 5-7 minutes videos about financial literacy and entrepreneurship. These videos were later used to promote entrepreneurship and financial inclusion by banks.

Students and teachers from 12 different upper secondary schools attended financial talks focusing on “Entrepreneurship and Financial Literacy” organised by Tabung Amanah Pekerja (TAP) and Ministry of Education. To encourage students to take active participations in order to grasp better understanding about financial planning and entrepreneurship, TAP and Ministry of Education organised a 2 hour game which engaged students in a series of physical and mental test. This event took place in the Jubilee Recreational Park and encouraged students to work as a team to solve tasks in the game, as well as exposing students to current financial and entrepreneurship issues.

Primary school children visited the Currency Gallery, Ministry of Finance as well as the TAP employee Trust Fund Counter where they had the opportunity to connect with other children within the Asian region and have a conversation through a global video chat. Attending children also received guided tours of the Currency Gallery and learnt about the history of Bruneian money.

2013 Brunei Darussalam Money Week

NAME OF THE ORGANISING ENTITY:

  • Ministry of Education Brunei Darussalam

PARTNERS:

  • Entrepreneurship and Business Unit
  • Curriculum Development

DATE OF THE EVENT:

  • 15th - 21st of March

The activities during Global Money Week in Brunei were organised by the Ministry of Education through the Entrepreneurship and Business Unit, Curriculum Development Department. It was marked by a visit to the Currency Gallery, where Bruneian students learnt about the history of the Brunei Currency. Present were children aged between 7-24 from various schools, government officials, private companies, Youth Development Centre, Technical and Vocational schools representatives.

Global Money Week Brunei Darussalam was celebrated with a special financial quiz for youth developed by the Ministry of Education. Dk Nurul Azeerah, aged 16, a student who participated in the Global Money Week Quiz shared her view that by participating in the quiz, she learnt the importance of banking and finance. It was her first visit to the Currency Gallery where the video conference took place.

Children had the opportunity to connect with others from Malaysia and The Philippines with the Global Video Chat. Raiyan Muqri Saiful bin Rizal, aged 8, from International School Berakas shared his story on the importance on savings money and demonstrated how he does so in his BANK MACHINE box that he bought locally, and how he uses this money machine as a piggy bank to save his pocket money.

Ahmad Hafizul bin Haji Mohamed, aged 12, Year 7 student from Sekolah Menengah Sayyidina Hassan showed to the kids in Malaysia and Philippines the Brunei currency denominations of $1, $5, $10 and $100. He also pointed out that it is made from plastic. The students from Malaysia and the Philippines also learnt that in Brunei you can also use Singapore money as they hold the same value (Singapore $1.00 = Brunei $1.00).

The Students in Brunei were amazed that children in the Philippines can buy a McDonald’s Happy Meal for 1 Brunei dollar (BND$1.00), when in Brunei the cost of a Happy Meal is BND$5.00. It was also interesting that children from the Philippines showed us the “savings ruler”. The best part was seeing children from another country.

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