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ABU DHABI / Emirates Business
Emirates Foundation, an independent philanthropic organisation set up by the Abu Dhabi Government to facilitate public-private partnerships for empowering youth across the UAE, and Abu Dhabi Islamic Bank (ADIB) have partnered in support of financial literacy through Emirates Foundation’s programme, ‘Esref Sah’, which aims to educate youth on ways to manage their current and future financial and asset base.
The signing ceremony, was attended by Sheikh Sultan bin Tahnoon Al Nahyan, Chairman of Abu Dhabi’s Transport Department and Managing Director of the Emirates Foundation, and Sheikh Dhiyab bin Mohamed Al Nahyan, Board member of the Emirates Foundation.
The three-year agreement signed today by Mohanna Al Muhairi, Chief Operations Officer of Emirates Foundation, and Mohamed Ali Al Fahim. Region Head, Corporate Banking, reflects both partners’ strategic commitment to promoting financial literacy among young Emiratis as an initiative of critical importance to the UAE’s overall development agenda.
With a commitment of AED 1.5 million, the agreement, which offers both financial and knowledge-sharing technical support, is in line with the foundation’s business philanthropy model, which seeks to develop long-term programmes, designed to make positive and sustainable impact in the lives of UAE youth. A major emphasis of the agreement is on boosting Emirates Foundation’s efforts to make philanthropy a deeply rooted culture and encourage stronger involvement of the UAE youth in the socioeconomic development process.
This partnership comes as part of ADIB’s UAE vision to invest in development programmes such as the “Smart Money Programmeâ€, ADIB’s flagship financial education programme which aims to raise awareness and educate UAE youth about the importance of financial management, budgeting and investment. In this respect, Emirates Foundation will support ADIB’s Smart Money programme through ‘Esref Sah’ by addressing personal finance issues which are specific to young Emiratis and provide the tools to help them enhance their financial planning and management skills and avoid excessive debt.