Emirates Foundation holds panel discussion to boost financial literacy

Emirates Foundation has hosted its quarterly business platform for social investment focusing on boosting financial literacy confidence amongst youth, in the presence of representatives from public and private sector institutions from across the UAE that are interested in furthering their social investment and CSR activities.

Under the theme, "Boosting financial literacy confidence amongst youth", a panel debate explored the importance of educating youth on how to manage their personal finances effectively and how to take control of their financial situation, improve their spending habits and increase savings and investment for the future.

The panel session was led by Clare Woodcraft-Scott, CEO of the Emirates Foundation, along with three key panelists: Tariq Mana Saeed Al Otaiba, Sr. Associate Office of Strategic Affairs Crown Prince's Court, Abu Dhabi, Andrew Woolnough VP, Corporate Communications, CEMEA Visa Middle East FZ-LLC, and Nariman Abdulla Kamber Alawadhi, Chief Manager at the Central Bank of the UAE.

Commenting on the forum, Woodcraft-Scott said, "Financial literacy is a fundamental skill for youth to become active and productive members of any modern society. In today’s complex world, youth must take charge of their finances and build a more secure future for themselves and their families."

Maytha Al Habsi, Deputy CEO at the Emirates Foundation, said, "Our approach to financial literacy depends highly on peer training and mentorship. We have built our 100 Youth Club to instruct 100 Emirati youth to become trainers and peer mentors in the field of personal financial management. Our goal is to have every young person in the UAE financially literate but also very business savvy, able to understand the difference between an asset and a liability and able to read a balance sheet.