MISAMIS OCCIDENTAL 2nd District Representative Henry Oaminal has filed a measure seeking the teaching of savings and investments subject in high school.

In pushing for House Bill 9066 or the proposed Savings and Investment Act of 2021, Oaminal explained that Filipinos are at risk of investment scams.

“The low levels of savings and financial literacy to identify tell-tale signs of investment scams underscores the need for a national response through financial literacy and education,” he said in his explanatory note.

Based on reports from the Securities and Exchange Commission, there is an alarming surge in investment scams ranging from alleged cryptocurrency investments, forex trading, Ponzi schemes, pyramid sales schemes and many other get-rich-quick schemes.

House Bill 9066 seeks the inclusion of a savings and investment subject in the curriculum for junior high school to equip students with knowledge on long-term savings and long-term investments.

Oaminal said that the integration of savings and investment subject in the curriculum will promote investor education and enable the young population to understand the fundamental principles of finance and investments.