ARJAVA MEDIA
The Investor Education and Protection Fund Authority (IEPFA) works under the Ministry of Corporate Affairs. It has signed a transformative Memorandum of Understanding (MOU) with the Association of Chartered Certified Accountants (ACCA) to advance financial literacy, investor education, and investor protection. The MOU marks a significant milestone in the shared commitment to enhance financial education across the nation, both in urban and rural sectors, ensuring a secure financial future for the coming generations.
Mrs Anita Shah Akella, CEO of IEPFA and Joint Secretary, Ministry of Corporate Affairs, and Helen Brand OBE, Chief Executive of ACCA, officiated the signing, a major step in the organisations’ efforts to increase financial literacy among Indian schoolchildren. This significant accomplishment highlights the two organisations’ common goal of educating young people about fundamental financial concepts and fostering a financially robust society.
Under the terms of the MoU, both parties have agreed to collaborate on a set of educational initiatives, with a particular emphasis on the ACCA’s Financial Literacy Programme known as “Financial Education for You” (FEFY). The FEFY program, a four-year course targeting schoolchildren in grades six through nine, aims to foster sound financial decision-making among young minds, thus laying a strong foundation for future informed investors.
Through this four-year partnership, IEPFA will facilitate the introduction of FEFY in select schools, spanning urban and rural regions. ACCA will generously provide the program’s digital content free of cost, ensuring that financial literacy is accessible to various educational institutions. ACCA members will offer professional training to school educators, empowering them to deliver this curriculum to students.
The pilot phase of FEFY will kick off in select schools, with ACCA providing digital content and resources to these institutions. The program is designed to be highly interactive, utilising experiential learning to drive behavioural change in financial decision-making among students.
The partnership will see ACCA organising seminars, workshops, and roundtables on financial education, investor protection, and capital market development. These activities, funded by ACCA, will further deepen the collaboration between IEPFA and ACCA, facilitating a broader reach for investor education initiatives.
Anita Shah Akella stated: “We are happy to collaborate with ACCA to promote financial awareness among students throughout India. Our goal is to equip future generations with the information and abilities necessary to make wise financial decisions, and our partnership supports that goal. Our goal in incorporating financial education into schools is to foster a financial literacy culture that will help build a more robust economy and responsible investors.
Helen Brand emphasised the importance of this collaboration by saying, “Financial literacy is about giving the next generation the tools they need to take charge of their financial destinies, not merely about knowing how much money is in circulation. Our partnership with IEPFA is intended to provide students throughout India with this vital information. By giving them the tools to make wise choices, this collaboration will create a generation that is prepared for the challenges that lie ahead and has financial stability.”
