Emirates Foundation has
launched the Esref Sah Shabaab Club for Emirati youths to educate their peers
about financial literacy.
It will select and train
more than 100 Emiratis between 25 and 35 years of age to conduct programmes to
educate youths across the UAE. Baizat, a UAE financial awareness organisation,
will facilitate the three-month training and mentoring of Shabaab Club
members.“Empowering youths with the tools to become financially self-sufficient
cannot be underestimated,” said Maytha Al Habsi, the chief programmes officer
at Emirates Foundation.
About 70 per cent of
young Emiratis are in debt, according to statistics from the Emirates
Foundation.
The organisation said
that youths spent three times more on fashion than their expatriate Arab and
Asian peers.For every Dh100 that they spent, about 40 per cent was spent on
clothes and 35 per cent on mobile phones.
The workshops and
educational events will be conducted in workplaces, schools and universities.
They aim to promote discussion and educate Emiratis about the fundamentals of
personal finance.
The first trial
workshops are set to take place in Abu Dhabi in November.
“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,” said Salah Al Halyan, the founder
of Baizat.
“With a major focus on
reaching youth in educational institutions, we can guide the next generation to
be financially secure. –End-
Image by: http://www.thenational.ae/
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