Latest news with #Zoud
Khaleej Times
09-07-2025
- Business
- Khaleej Times
UAE: New initiative to teach Emirati kids financial literacy amid rising consumerism
The UAE has launched its first community-based financial literacy programme, taking money management education directly to children and teenagers aged 9-15 through local councils. This innovative approach prioritises cultural familiarity over traditional classroom settings. The "Your Money, Your Dignity" programme, delivered by the National Financial Wellbeing and Sustainability Initiative Zoud in partnership with Majalis Abu Dhabi, runs weekly workshops from today, July 9, to August 29 across six community councils, welcoming citizens and residents to participate in this initiative. The programme marks a significant departure from conventional financial education models by utilising 'majalis' traditional community councils as learning venues. "Majalis are located in the heart of the community physically and socially," said Dr Maha Al Mansoori, Education Associate Director at Zoud. "As we celebrate the Year of Community, these spaces represent unique environments where generations gather, trust is built, and knowledge is naturally exchanged." The initiative addresses growing concerns about youth financial preparedness amid rising consumerism and digital transactions. Workshop content is carefully tailored to each age group using OECD frameworks while remaining highly localised to UAE contexts and real-life situations faced by young people in the emirates. Children aged 9-12 explore fundamental concepts including saving, budgeting, and distinguishing needs from wants, while teenagers aged 13-15 delve into more complex topics such as long-term financial planning and ethical earning principles. The culturally resonant programme name reflects the core belief that financial responsibility is a source of pride and integrity. Salem Al Shamsi, Community Director, emphasised the cultural advantage, "Unlike formal settings like schools, majalis foster more personal and intergenerational learning experiences, making the message of financial literacy more relatable and impactful." The workshops span locations from Al Reef to Al Tawiyah, with morning sessions typically running from 10am to 12pm, though some afternoon slots accommodate varying community schedules. Each session requires QR code registration due to limited seating capacity and overwhelming interest from parents. Looking ahead, Zoud plans to expand the initiative throughout all seven emirates and evolve current formats to ensure that financial well-being remains a cornerstone of sustainable development in the UAE.
Sharjah 24
20-02-2025
- Business
- Sharjah 24
SIB launches 'Zoud' package for UAE government employees
The launch event took place at YourSpace Hall in Aljada, attended by His Excellency Mohamed Abdalla, CEO of Sharjah Islamic Bank, and His Excellency Abdullah Ibrahim Al Zaabi, Chairman of the Sharjah Department of Human Resources, along with several senior officials and representatives from government entities. Innovative banking solutions and benefits for government rmployees Commenting on the initiative, Nabil Abou Alwan, Head of Retail Banking at Sharjah Islamic Bank, highlighted that the new package is designed to provide government sector employees across all UAE with special profit rates, cash rewards on covered cards, and opportunities to win valuable prizes through promotional campaigns. He explained that UAE nationals can apply for financing from their first day of employment, while expatriate employees are eligible upon receiving their first salary. The exclusive profit rates include personal finance through debt transfer with a fixed annual profit rate starting at 2.49%, along with a grace period of up to 150 days for the first installment and the option to defer two installments annually. For auto finance, the package offers a fixed annual profit rate starting at 1.79%, with financing of up to AED 1 million and flexible repayment terms of up to 60 months. Abou Alwan emphasized SIB's commitment to oofering the best financial and banking services for government employees across federal and local ministries, authorities, and institutions. He noted that the new package aims to simplify access to banking benefits and financial solutions that support employees' financial well-being while providing them with added value and an enhanced banking experience. The launch of this upgraded "Zoud" package follows its overwhelming success in the past two years, during which it witnessed strong demand from government employees. This success is attributed to the ongoing collaboration between SIB and the "Waffer" Government Discount Program under the Sharjah Department of Human Resources. Welcome rewards & exclusive promotions As part of its covered card offer, new applicants will receive a welcome bonus of AED 500 upon activating the card within 60 days of issuance and spending AED 5,000 during this period through retail or online purchases. Additionally, cardholders will enjoy 10% cashback with the Cashback Card and 50,000 Smiles points with the Smiles Covered Card. Promotional campaign draws from February 15 to April 30 To further enhance customer engagement, the package includes a promotional campaign running from February 15 to April 30, during which customers who transfer their salaries and benefit from the package will be entered into exclusive draws, offering them the chance to win a Tesla and other valuable prizes. Abou Alwan encouraged those interested in benefiting from the "Zoud" banking privileges to visit for more details on terms and conditions.
