The Alliance Bank Money & Math Challenge (MMC) is an initiative towards developing financially savvy students which is sponsored by Alliance Bank in collaboration with MoneyTree. This initiative is developed in line with Bank Negara’s School Adoption Program – to promote financial education and increase financial awareness amongst students in Malaysia, and is supported by the Ministry of Education.
CEO of MoneyTree Malaysia, Mr Brandon Liew stated, “This challenge was conceived to show our students the usefulness of academics skills, particularly math, and its application in our day-to-day life. Apart from this, we also hope to expose students to the importance of financial education.”
Prior to the MMC Grand Finale, MoneyTree organized and conducted a 1-day workshop in twenty schools nationwide. There were ten schools selected from Klang Valley and five schools from Penang and Johor respectively. At the end of every session, an “Auction” would be conducted where students would be able to bid for attractive prizes with the MoneyTree Currency they earned in the class.
Besides the face to face sessions in the school, students were given a ‘Login Card’ where they could login to an online portal to take an Online Financial Literacy Quiz to help them reinforce what they have learnt at the workshop. Participation in this quiz contributed to the teams’ total score that would qualify them to go for the Alliance Bank Money & Math Challenge Grand Finale held in Kuala Lumpur. Alliance Bank also offered RM250 prize money per person to the TOP team from each school as an incentive for their participation in the MMC Program.
During the Alliance Bank Money & Math Challenge Grand Finale, the top teams from each school across 3 states will gather in Kuala Lumpur to compete for the Grand Prize of RM 8, 000.00. Other prizes include a Second Prize of RM 4, 00.00 and 8 Consolation Prizes of RM 400.00 per team.
Among those who would be attending the Grand Finale would be Mr Raymond Leung (Group Chief Operating Officer, Alliance Bank Malaysia Berhad), Dato Nik Kamaruddin (Chairman, MoneyTree Malaysia), Mr Brandon Liew (Chief Executive Officer, MoneyTree Malaysia), Representatives from Ministry of Education as well as Headmasters of schools across Penang, Johor and Klang Valley.
For more information about the Alliance Bank Money and Math Challenge (MMC) Grand Finale happening at the National Science Centre, Bukit Kiara, please write to firstname.lastname@example.org.
The MMC program is designed specially to educate students on mathematics and to relate its application to the topic of financial literacy. The key to this program’s success lies in its effective teaching model – various interactive scenarios in which participants are given currencies, food points and utility points; and be put through a ‘mini economy’ in which earning, spending, saving and investing are part of the program syllabus.