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29 March 2024

Global Money Week: Promoting financial literacy among UAE students

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By Staff

In commemoration of Global Money Week, corporate mentors from MasterCard and INJAZ UAE, a member of Junior Achievement Worldwide, teamed up to teach grade eight students from the Dubai National School about financial literacy and entrepreneurship.

MasterCard, a long-time partner of INJAZ UAE, piloted the international ‘JA It’s My Business’ program in the UAE last year, with middle grade students. The program introduces youth to entrepreneurship and financial literacy through innovative sessions and program materials which incorporate games featuring successful local and regional entrepreneurs, and explains how they succeeded in launching their own businesses.

‘JA It’s My Business’ is the first step in INJAZ’s entrepreneurship education value-chain that starts at middle school and continues until the youth turn 24.

“At MasterCard, we are committed to sharing our knowledge and expertise to motivate and encourage youth to explore new career opportunities. Our collaboration with INJAZ is part of our endeavours to promote financial literacy in the UAE and across the region. We are keen to invest in a generation of educated and empowered youth, who will positively contribute to the local and global community,” said Sami Lahoud, Vice-President of Corporate Communications at MasterCard in Middle East and Africa.

Data gathered from the first beneficiaries of the program in November last year showed a positive impact on students, prompting both organisations to repeat the experience this year. According to student surveys, 66 per cent of students reported that the educational sessions helped them think more creatively, and 46 per cent showed an improvement in their teamwork and critical thinking – skills which will support future entrepreneurial thinking. A heartening 90 per cent of students said they would recommend the program to a friend.

Sulaf Saleh Al-Zu’bi, CEO of INJAZ UAE commented: “We are very excited to offer an entrepreneurial program to students at such a young age.  Instilling an entrepreneurial way of thinking in students that young is more likely to have long-term impact, since they’re grasping this knowledge when they’re starting to form ideas about themselves, their dreams, their skills and abilities.”

Haneen Alattar, one of the students who completed the course, shared: “Business is not just about making money; I learned that to start a business, I need to fill a need, be creative and innovative, know my customers and product, and finally, believe in myself. By starting a business, I can make a profit and help others at the same time.”

To date, MasterCard volunteers have impacted over 200 students. They presented six modules built to support differentiated learning styles, while delivering key concepts, skills and attitudes. Using the INJAZ learning module, the students were able to gain a better understanding of the relationship between what they learn in school activities and their successful participation in the economy.

Hanadi Mesmar, Educator, Dubai National School, commented: “It was great to be part of the sessions that took place at the school.

The volunteers that led the modules for the students as part of the ‘It’s My Business’ Program were extremely professional, cooperative and knowledgeable.

Some of the educators attended a few of the sessions, and we were particularly impressed by how well each of the sessions was conducted and the volunteers’ excellent communication skills. We are confident that students will now be able to apply insights gained from these sessions into their education, career pursuits and potential entrepreneurial endeavours in the future.”