Emirates Foundation to teach youth financial literacy

Emirates Foundation has announced the establishment of the ‘Esref Sah Shabaab' Club, an initiative that aims to equip more than 100 Emirati youths with the skills and knowledge to be able to educate others about financial literacy.

Launched as part of the Foundation's financial literacy initiative, the Club's members will be carefully selected and trained in order to run finance workshops and educational events, annually educating thousands of other youth in workplaces, schools and universities across the UAE.

The new programme has been specifically designed to stimulate discussion and educate the youth about the fundamentals of personal finance such as budgeting, saving, spending and debt.

Financial awareness organisation, Baizat, will be actively involved in the training and mentoring of Shabaab Club members. Commenting on the initiative, Maytha Al Habsi, Chief Programmes Officer at Emirates Foundation, said: "Empowering youth with the tools to become financially self-sufficient cannot be underestimated. At Emirates Foundation, we believe in the role we have as a key agent in transforming our society.

"This club of young and ambitious Emiratis will undoubtedly go a long way towards ensuring a brighter, more financially stable future for our nation.”

The candidates chosen to become Shabaab Club members will undergo a rigorous three month training programme in order to gain certification, which includes a course in personal finance and three one-on-one consultation sessions with a financial consultant.

In order to ensure the most effective spread of education in the UAE, candidates will be selected from a wide range of different backgrounds, including Emirates Foundation's partners.

In addition, 50 out of the 100 members will receive additional training to provide basic consultation sessions with individuals during their workshops.

The initial 50 Shabaab Club Members are to be trained in the second half of 2015, with the first trial workshops set to take place in Abu Dhabi during November 2015.

Salah Al-Halyan, founder of Baizat, said: "Baizat are honoured to work under the umbrella of Emirates Foundation.

The Esref Sah Shabaab Club aims to empower youth to pass on the message of responsible financial behaviour, which is so important for the future of our country.

"This initiative will tackle a major challenge we have when financially empowering the UAE population, which is communicating the message to a large audience in an effective, personal, and sustainable manner. In addition, with a major focus on reaching youth in educational institutions, we can guide the next generation to be financially secure.”
Source: WAM