Japan Securities, Bank Groups to Work on Financial Education

Economy

Tokyo, Dec. 27 (Jiji Press)--The Japan Securities Dealers Association and the Japanese Bankers Association, or Zenginkyo, said Monday that they will cooperate on financial education and stepped-up measures to fight child and youth poverty.

As Japan will introduce classes on asset formation at high school from the next fiscal year under its revised school curriculum guidelines, the two associations will work together to educate people by sending experts to schools and companies throughout the country.

The heads of the associations signed a memorandum of understanding and held a press conference in Tokyo. It is the first time for the two groups to sign such an agreement.

JSDA Chairman Toshio Morita said that only a proportion of the population have been educated on asset building.

Noting that more people were becoming involved in investing thanks to the spread of tax exemption arrangements such as the Nippon Individual Savings Account, Morita said, "By working together to expand financial education, we will be able to turn the current signs of change into a major movement."

[Copyright The Jiji Press, Ltd.]

Jiji Press