DBS Foundation Allocates SGD 1 Million To Boost Financial & Digital Literacy for Individuals With Disabilities

The DBS Foundation, dedicated to fostering positive transformations in business and communities, collaborating with SG Enable, the primary agency for disability and inclusion in Singapore, aims to enhance financial and digital literacy for individuals with disabilities. This initiative is supported by a grant of SGD 1 million.

Both organisations held a joint press conference in Singapore yesterday, announcing a forthcoming "flagship initiative" set to commence in 2024. Singapore President Tharman Shanmugaratnam and First Lady Jane Ittogi graced the launch event at the Enabling Village.

This comprehensive initiative aims to empower individuals with disabilities, fostering increased independence and expanded opportunities. As outlined in their joint statement, the initiative has ambitious plans to impact approximately 6,500 persons with disabilities and their caregivers within the next three years.

Following the launch event, a pilot financial literacy workshop was conducted, attended by four individuals with diverse disabilities—cerebral palsy, Down Syndrome, and autism—alongside their caregivers. President Tharman and First Lady Jane engaged with the participants, gaining insights into the guidance and support they required.

From 2014 onward, the DBS Foundation has been at the forefront of supporting social enterprises in Asia—profitable ventures with a focus on creating a positive impact. The Business for Impact segment is currently driving the development of innovative businesses, including SMEs, dedicated to tackling crucial challenges affecting both the planet and its inhabitants. In 2022, the Foundation expanded its efforts with the establishment of the Community Impact chapter, aiming to provide the underserved with essential digital and financial literacy skills, fostering resilient communities.

The DBS Foundation website, shedding light on its aims, said: “As digital technologies continue to evolve and proliferate, it is now more critical than ever to foster a more equitable and inclusive society, in which no one is left behind.”

The DBS Foundation, in 2022, entered into “a strategic collaboration with the Infocomm Media Development Authority (IMDA) to support the national Digital for life movement and to step up DBS’ volunteer participation to enhance access to digital literacy training, bolstering digital inclusion efforts in Singapore”. 

The DBS Foundation, within the IMDA collaboration, has set a target of “mobilising at least 2,500 of the bank’s employees, with the support of community partners such as the SG Digital Office, to run 800 digital workshops that will help participants make sense of everything from digital banking and payments, to how to spot and avoid scams”.

Expanding on the details of its partnership with the IMDA, the Foundation's website noted, “Some of these sessions will be held in select DBS/POSB branches to make it convenient for those who are more familiar with over-the-counter services to pick up digital skills.”

(The article is published under a mutual content partnership arrangement between The Free Press Journal and Connected To India)