DUBAI / WAM
Initiating a movement in financial literacy amongst the UAE’s youth, National Bonds, an investment company owned by the Investment Corporation of Dubai, has entered a partnership with Taaleem, one of the country’s leading education providers, to empower children of all ages with essential financial planning skills.
In a signing ceremony, National Bonds group CEO, Mohammed Qasim Al Ali, and Taaleem CEO, Alan Williamson, locked in the partnership on behalf of National Bonds and Taaleem.
The partnership will see the launch of an educational campaign amongst over 15,000 students that are part of Taaleem schools in the UAE. The campaign will seek to drive awareness of the paramount power of saving and equip the youth with the knowledge, skills, and confidence to make responsible financial decisions.
The initiative is aligned with the UAE leadership’s vision to encourage a culture of savings and prosperity among nationals and residents alike. The partnership will see National Bonds deliver insightful, interactive seminars and informative kits across the network of 12 Taaleem schools.
National Bonds has also launched an innovative savings programme titled “The Juniors’ Savings Account” to empower students and their parents with the tools to begin saving for their future.
Commenting on the importance of gaining financial literacy at an early age, Al Ali said, “As important financial planning is for our happiness and peace of mind, it is often an area where we develop the learnings and skills far too late in life. Managing our finances is a critical life skill that must be taught and mastered early so we can tackle debt traps and stay ahead of our expenses while also having ample savings.
“Based on our Savings Index, only 56% of people living in the UAE feel like they’re putting aside enough money per month towards their child’s education. Also, only 18% of regular Emirati savers are concerned about saving for their child’s education as a main reason for long-term saving. These facts provide further support for the importance of this initiative.”
He added that the aim of this partnership is to upskill the youth and increase their knowledge of financial life cycle needs, managing debt and savings so they are well-positioned to achieve their financial goals.
Echoing similar sentiments, Williamson said, “Taaleem has become one of the first National Bonds partners to initiate this movement of financial literacy for students as well as educationists across all Taaleem schools. As with any good habit, we believe that gaining financial literacy must start at an early age. We are very excited about this collaboration and are confident of the huge benefits our students, parents and staff members will reap from the partnership.”
The National Bonds’ Junior Savings Account is an exclusively crafted savings plan that allows parents with young children and students the flexibility to save as much or as little as they want each month, while giving them the opportunity to be part of the exclusive junior-only prizes in National Bonds’ Rewards Programme.
Another key programme is the Global Savings Club that has been tailored to the Taaleem education professionals and employees to help them avail the benefits of a savings account, fortify their savings safety net and access a slew of Global Saving Club benefits.