The Stock Exchange of Thailand (SET) has renewed a Memorandum of Understanding with the National Savings Fund (NSF) and the Student Loan Fund (SLF), marking the 7th consecutive year of collaboration to promote financial planning knowledge. This initiative aims to enhance learning in the digital era, helping Thais achieve financial well-being across various target groups. The financial literacy content, available both online and offline, is expected to reach over 2.5 million members of NSF and SLF nationwide annually.
SET Senior Executive Vice President Soraphol Tulayasathien highlighted that Thailand is currently facing various financial challenges, including rising household debt levels and the transition to a super-aged society. Most Thais are encountering the problem of aging before achieving financial stability, leaving them with insufficient funds to live during retirement. SET is accelerating its efforts to promote financial literacy, a crucial skill for building financial security for all ages. This aligns with SET's strategic plan and its 50th-anniversary concept of “Make it Work for Every Future." SET has modernized financial and investment knowledge resources, including the SET e-Learning platform, which offers diverse courses tailored to individual needs in line with new learning paradigms. In collaboration with partners, SET aims to deliver this knowledge to various target groups, ultimately improving Thai people’s long-term financial stability and quality of life.
SET has recently renewed the MOU with NSF and SLF to promote financial literacy, marking the 7th consecutive year of this collaboration. This four-year MOU aims to expand financial knowledge to people from all walks of life, including students, working professionals, informal workers, freelancers, and the general public. The initiative seeks to foster financial literacy, enabling individuals to manage debt effectively, design appropriate savings plans, and ensure adequate pensions for retirement.
NSF Secretary-General Jaruluk Ruangsuwan emphasized that NSF is driving the promotion of financial and investment literacy, as well as fostering social sustainability by establishing basic pension security for the future. NSF also advances learning in the new digital era, enabling Thai people to achieve financial well-being. This aligns with NSF's vision of building a foundation for savings and driving comprehensive pension schemes for the public sector. At present, NSF has 2.6 million members.
The collaboration between SET and NSF, which began in 2018, has successfully enhanced public understanding of financial planning, strengthened financial stability, and created healthy financial practices, ensuring quality retirement through savings with NSF. Building on this success, SET and NSF have renewed the MOU to continue joint efforts in promoting financial planning for Thais and enhancing understanding of financial management, particularly retirement planning, to ensure sustainability and efficiency moving forward."
SLF Manager Chainarong Kajchapanan said that SLF is dedicated to promoting knowledge and various skills to increase educational opportunities for Thai youth, especially in financial literacy essential for everyone. This initiative aims to raise awareness of the importance and value of student loans and foster responsibility in loan repayment.
SLF and SET have maintained a strong partnership for seven years since 2018. Currently, there are 71 SET e-Learning courses provided to SLF targets covering financial planning, investment, and entrepreneurship. These courses are available free of charge, allowing loan borrowers to accumulate public service hours as required by the Fund. The program has seen remarkable success, with a cumulative enrollment of over 10 million, showing significant year-on-year growth.
The Fund expects all borrowers to gain financial knowledge to manage their income, assets, and liabilities appropriately. This knowledge will be beneficial in preparing for and creating additional opportunities for their future. Moreover, it will enable them to repay their loans on schedule, ensuring a revolving fund that can continue to provide educational opportunities for future generations.
This collaboration between the two organizations builds upon previous successes by strengthening financial literacy among Thai youth. This initiative is crucial in developing a capable workforce that will play a vital role in the country's future development.
SET has been determined to drive financial and investment knowledge for the public for over two decades, collaborating with both public and private sector partners. Initiatives include the "Happy Money, Happy Young Old" project, the "Happy Money, Financial Mentor" program, and various online resources such as articles, video clips, and infographics. Moreover, SET e-Learning courses cover financial planning, debt management, retirement planning, and investment. For organizations interested in SET's financial knowledge resources, information is available at www.set.or.th/happymoney.
