MITRA’s shares carnival programme raises financial awareness, increasing CDS account openings by 6.6% among the Indian community in Malaysia
IPOH: The Malaysian Indian Transformation Unit (MITRA) Shares Carnival Programme has successfully raised financial awareness within the Indian community.
MITRA director-general G. Prabagaran said the initiative highlighted opportunities to generate additional income through stock investments.
Following three programmes in Selangor, Kuala Lumpur, and Kedah, there was a notable increase in people opening Central Depository System (CDS) accounts.
“Previously, only about 80,000 members of the Indian community in Malaysia had opened CDS accounts,” said Prabagaran.
“However, after three programmes, we saw an increase of 6.6%, bringing the total to 85,000.”
He emphasised this was a significant achievement for the community.
Prabagaran noted only about 1% of the Indian community was previously involved in stock investments.
The programme, in collaboration with Bursa Malaysia Berhad, has received very positive feedback.
It is funded with a total allocation of RM3 million and will be held in several states.
Prabagaran said the programme goes beyond helping people open CDS accounts.
It also provides participants with training in stock investment management.
The initiative offers exposure to safe investment practices, educating the public to avoid fraudulent schemes.
In another development, Prabagaran reported over 500 participants have benefited from the Malaysian Indian Investment Programme (MIIP).
MIIP aims to empower Indian youth through training and stock investment skills.
“Our focus is to ensure that at least 150 participants from the total number secure employment in the financial investment sector,” he added. – Bernama
