The MoU, to leverage the expertise of and partnership with each signatory for achievements, aims to establish a solid foundation for financial literacy in the educational system through (1) development of the Financial Competency Framework for Educational Purpose to be adopted as a guideline for appropriate teaching and learning management at each education level, (2) identification of a set of key and necessary knowledge and skills required for financial literacy to be further developed into curriculum as well as associated teaching tools and media, and (3) endeavor to build a robust network of financial educators for enhanced dissemination of financial knowledge in the educational institutions, extensively and sustainably.

The partnership of these six organizations is a significant step towards adjustments in the educational system that would intensify the cultivation of financial management skills which are important life skills for youth, the driving force of the nation’s future. Proper knowledge, skills and attitudes about financial management, covering the setting of appropriate financial goals, having adequate savings and protection (via insurance) in times of emergency, having sufficient savings and investments for quality living at each stage of life until retirement, including ability to diversify investment appropriately, incur only necessary and repayable debts for improving quality of life as well as avoid falling victim to financial frauds and scams, would contribute to the overall financial well-being of the Thai people and the solution to the country’s household debt problems in the long run.