Citi gift to raise financial well-being of low-income families

Mr Han Kwee Jan, CEO, Citibank and NUS Provost (fourth and fifth from left) with NAI faculty members and Guest of Honour Assoc Prof Muhammad Faishal Ibrahim, Parliamentary Secretary for Social and Family Development (fifth from right).

Social workers will soon be equipped with knowledge and skills to help low-income vulnerable families better manage their household finances thanks to a gift from the Citi Foundation, the philanthropic arm of global bank Citigroup, to the Next Age Institute (NAI) at the National University of Singapore (NUS).

NAI will embark on a new initiative to develop a curriculum to empower social workers and social work students in Singapore with expertise in Financial Capability and Asset Building (FCAB). Currently, there is no formal training in FCAB for social workers in Singapore. NAI aims to bridge this gap by equipping social workers and social work students to help low-income vulnerable individuals and families enhance their financial capabilities to achieve better life outcomes.

Associate Professor Corinne Ghoh, NAI Co-Director, explains, “Social workers play a pivotal role in supporting and uplifting low-income vulnerable individuals and families. The Singapore FCAB curriculum will provide social workers and social work students a renewed focus on assisting low-income families to manage their household finances and gain access to appropriate services. By integrating knowledge of financial capability building into professional practice, social workers will be empowered to guide and support low-income families to make informed decisions that will heighten their potential for positive change in their family situations.”

Mr Han Kwee Juan, CEO Citibank Singapore Limited, says, “The success of every society is dependent on the ability of its people to become economically self-sufficient. Citi is proud to partner the NUS Next Age Institute in this brand new initiative to fill a gap in the community by equipping social workers with the knowledge and skills to assist disadvantaged families on money management matters and access to appropriate financial services.

“Citi has pioneered several initiatives to enable financial inclusion in Singapore. The latest financial education initiative with NUS enhances our efforts to enable progress within another segment of our society.”

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