An overwhelming number of educational professionals polled in the UAE would like to see the basics of money management taught in schools, reveals a survey.
Most of those quizzed believe basic financial literacy skills are essential for young people, according to the new study by credit card company Visa.
More than 100 teachers from across the country were asked for their views on the current provisions for teaching pupils about money management. And 73 per cent admitted that schools did not currently teach basic money skills as part of the curriculum.
"Visa has been developing financial literacy programmess that teach individuals how to spend, save and budget responsibly," said Lama Kabbani, Corporate Communications Manager for Visa in the Middle East.
"This year, Visa launched in the UAE its regional financial literacy website, mymoneyskills.me, which will form the cornerstone of our financial literacy efforts in 2010. We hope to provide teachers with an engaging and interactive tool with which to teach the fundamentals of money management," said Kabbani.
The website, which was launched at the GESS 2010 education conference in Dubai, is a part of the firm's global commitment to reach 20 million people worldwide with financial literacy information by May 2013.
Providing fundamental personal finance information in both Arabic and English on topics such as learning how to plan a budget, preparing for the future, using a credit card wisely and spending responsibly, the website mymoneyskills.me and Financial Football form a platform for young people, families and schools to improve their financial literacy skills.