Overview of the FCI Survey 2024
The Financial Capability and Inclusion Demand Side (FCI) Survey is a cross-sectional survey conducted every three years by Bank Negara Malaysia (BNM). It assesses the level of financial capability of Malaysians based on measures of financial knowledge, behaviour and attitude to arrive at a combined score known as the Malaysia Financial Literacy and Capability (MYFLIC) Index.
In conducting the survey, BNM also considers the material factors and developments during each survey period. For instance, the FCI Survey 2021 captured the impact of the COVID-19 pandemic and corresponding relief measures on Malaysians, in addition to measuring the level of financial capability.
The FCI Survey 2024 which was conducted in 3Q 2024 broadens its scope to cover assessments on financial well-being and digital financial literacy. This is given that issues such as rising cost of living and rapid growth of digitalisation have had a more prominent impact on financial behaviour during the survey period. It also assesses the financial capability of Malaysians following the implementation of the National Strategy for Financial Literacy 2019 –2023 (NS1.0), revealing new challenges and opportunities in building financial resilience moving forward.