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The Central Bank of the UAE (CBUAE) has signed a memorandum of understanding (MoU) with Emirates Foundation to roll out financial literacy programmes through Emirates Foundation’s programme ‘Esref Sah’ which aims to raise financial awareness among youth and educate them on ways of managing their finances.
The MoU was signed by HE Saif Hadef AlShamsi, Deputy Governor of CBUAE and Mr. Ahmed Talib Al Shamsi, Acting CEO of Emirates Foundation at CBUAE HQ.
This partnership comes as part of the Central Bank’s efforts to achieve its vision in promoting monetary and financial stability towards sustainable economic growth, and highlights its importance to the UAE’s overall economic growth and stability as it contributes greatly to the economic wellbeing of the society, and to youth in specific.
His Excellency Saif Al Shamsi, Deputy Governor of CBUAE said: “Our partnership with Emirates Foundation offers financial knowledge-sharing support to help make positive impact in our country and to our people. Educating our youth on how to become financially independent and stable will help us to build a strong nation equipped with the right knowledge and ensure sustainable economy growth.”
He added: “The programme introduces smart ways for the youth to enhance the quality of their life by providing guidance and real life scenarios, which will help them to meet their financial goals, grow their wealth and become financially secure today and tomorrow.”
Mr. Ahmed Talib Al Shamsi, Acting CEO of Emirates Foundation said: “Our partnership with the Central Bank of the UAE is testament to our commitment in promoting financial literacy among our community and supporting youth in managing their finances and debts. Enabling youth to sustain a culture of financial literacy is a vital stepping stone that will create a promising future for our youth, in addition to our nation’s economy.”
He added: “Esref Sah has been at the forefront of addressing financial challenges faced by youth since its inception six years ago, and has been successful in empowering youth to build a financially sustainable career.”
‘Esref Sah’ is one of many successful programmes initiated by the Emirates Foundation, as attested by winning the 2016 Khalifa Award for Education. It deals with challenges faced by youth in managing their financial activities, investments, spending and savings, and provides learning opportunities to support them to become financially independent through customised workshops, training and volunteering activities.
CBUAE is committed to support all initiatives to maintaining financial stability and supporting the UAE’s economic growth objectives as well as encouraging youth to use Esref Sah platforms.
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