23 November 2020, Abu Dhabi, UAE: The Authority of Social Contribution – Ma’an has announced the launch of its latest initiative, Ghaya, a financial literacy programme. The three-month programme, which will run three times annually, will educate and empower UAE Nationals in Abu Dhabi in how to successfully manage their finances, ensuring they have the tools and knowledge to become financially independent, confident and handle their finances in a smarter way.
- Ghaya is a financial literacy programme, which aims to support individuals with the tools and knowledge to understand and manage their finances successfully
- Ma’an’s latest initiative has been established to assist communities in Abu Dhabi with the skills on how to manage money
- Ghaya will build a sustainable community of partners and trained volunteers, who will educate and equip communities with tools to become financially stable
- The programme is in partnership with ADGM Academy and the London Institute of Banking Finance, who are also an educational partner and UAE Banks Federation, supporting the recruitment of specialised volunteers
Launching on 13 December, the Ghaya programme will enlist a total of 50 UAE Nationals living in Abu Dhabi, on how to manage their finances more efficiently. Ghaya aims to enhance financial understanding within local communities, as identified by the Abu Dhabi Department of Community Development (ADDCD) through the Quality of Life Survey.
Around 35 participants will be recruited from the Social Support Authority’s (SSA) current beneficiaries. The programme will also be open for the public to apply, selected in partnership with Ma’an.
Through its partnership with ADGM Academy and The London Institute of Banking & Finance (LIBF), who are running the programme’s content, Ghaya will be fulfilling national development and digital advancement and will fund the digital platform of the programme, encouraging eLearning and digital communication between the participants.
During the three months, participants will undergo an informative and hands-on course, which will equip participants with the knowledge they need to manage their finances. It will focus on different areas including how to save, how to live within your means and what are your suitable investment options,
The programme will also focus on how individuals can apply the key learnings to their own finances as well as their family and community, driving change and creating positive attitudes towards financial literacy.
The programme will be personalised and relevant to those living in Abu Dhabi, with the initiative’s impact being measured to ensure it addresses the key social issue and providing UAE Nationals with the skills and knowledge to achieve their financial goals.
The promotion of financial stability ultimately contributes to the sustainable economic growth of Abu Dhabi’s economy, as well as benefitting the wellbeing of its members of society, alleviating the stress which comes from debt exposure and improving the wellbeing of individuals and communities.
The programme seeks to build a strong network of partners and volunteers who help create community engagement as the initiative matures. Ghaya will be working with the LIBF to train the volunteers and recruit the specialists alongside the UAE Banks Federation.
Volunteers will also come from other public and private companies as well as those individuals who have completed the programme. These volunteers will become ambassadors in their communities, aiding those on their journey, providing insightful advice with other members from different walks of life, promoting goodwill and behavioral change.
Upon graduation, successful participants who excel in the programme will have the option to obtain a certification in Financial Literacy awarded by LIBF.
H.E. Salama Al Ameemi, Director General at Ma’an said: “The launch of Ghaya signifies so much more than the introduction of a financial literacy programme, it will play an instrumental role to understand the importance of finances as well as equipping UAE Nationals with the knowledge and skills to be more efficient with managing their finances. While it will create communities of financially-independent individuals who can pass on their knowledge to others, it will also strengthen the economic growth of Abu Dhabi which is one of the leading global cities for trade and business.
“The programme is an example of Ma’an’s role in facilitating and enabling the development of meaningful volunteering opportunities, creating independent individuals who can drive positive change within local communities in Abu Dhabi, in collaboration with the public, private and third sector.
“This programme would not be possible without the partnerships we have formed with ADGM Academy, The London Institute of Banking & Finance and UAE Banks Federation and together through a collective effort with their expertise, we will encourage a culture of volunteering that will not only inspire individuals but will benefit the whole of Abu Dhabi.
“We encourage those who wish to become more financially literate to step forward and register for this significant educational and applicable programme.”
Hamad Al Mazrouei, Chief Operating Officer of ADGM and Managing Director of the ADGMA, said: “ADGM is pleased to work alongside Ma’an and the LIBF to construct and execute the Ghaya programme, a crucial initiative that aims to equip UAE nationals with the necessary education and tools to achieve financial independence. The programme is in keeping with the ADGM Academy’s ongoing initiatives and deep commitment to foster financial knowledge and expertise across the UAE and wider MENA region. Through its robust curriculum and best in-class framework, we are confident that Ghaya will aid in shaping a generation of financially savvy and self-sufficient Emiratis.”
Alex Fraser, Chief Executive of The London Institute of Banking & Finance said: “As an Institute dedicated to lifelong financial education, we are honoured to work with Ma’an, and ADGM Academy on such an important project. Enabling individuals to become more aware of financial matters will make them more resilient and will benefit individuals, their families and their communities now, and for generations to come.”
Individuals who would like to be part of Ghaya can send an email to firstname.lastname@example.org and those who want to volunteer can register at: www.volunteers.ae/ghayapublic
Ma’an was established in February 2019 under the Department of Community Development in Abu Dhabi with the aim of bringing together the government, the private sector and civil society to support a culture of social contribution and participation. The authority will deliver solutions for social challenges with five main pillars of work – a Social Investment Fund, a Social Incubator Programme, Community Engagement Programmes and the introduction of a new type of public contracting, Social Impact Bonds, as well as Outreach Management.
Ma’an will support the third sector to flourish in Abu Dhabi, enabling responsible not for profit associations or foundations and social enterprises to contribute to the development of strong, active and connected communities.
Ma’an Authority for Social Contribution is an initiative under the Ghadan 21 accelerator programme, supporting Abu Dhabi to become one of the best places in the world to do business, invest, live, work and visit.