DUBAI, (Pakistan Point News - 26th Jun, 2018) Emirates NBD, a leading bank in the region, on Tuesday convened a panel discussion on money management for its millennial customers, as part of the bank’s financial literacy platform, #moneywise.
Titled "Manage your Money, Build your Future," the session tackled how better personal finance management can help create a stronger financial future for the UAE youth. As Al Etihad Credit Bureau, AECB’s, credit scoring gains momentum, the session aimed to highlight the importance of an early start for creating and maintaining a positive credit report.
The young customers of Emirates NBD and its mobile-only lifestyle digital bank, Liv., engaged with speakers at the interactive session, moderated by Ambareen Musa, Founder and CEO of souqalmal.com. Panellists included Hussain Al Balooshi, Acting-Senior Programmes Manager, Esref Sah and Kayani, Emirates Foundation for Youth Development; Daniele Lavalle, Head of Product Development and Data Operations, AECB; Jayash Patel, Head of Liv.; and Dr. Tariq Bin Hendi, Executive Vice President and Head of Wealth Products and Advisory for Retail Banking and Wealth Management at Emirates NBD. Panellists also answered queries from the bank’s social media followers as the event was live streamed over Emirates NBD’s social media platforms.
Reiterating Emirates NBD’s commitment to financial literacy, Dr. Bin Hendi said, "Money management is an essential part of life and as a market leading bank, we believe it is our responsibility to educate the community, in particular, our youth on creating a healthy financial foundation."
Speaking at the session, Musa commented, "Financial literacy is an essential skill that allows people to make informed choices about how they manage their money. From a personal finance aggregator point of view, financial education is not merely a campaign, it is an ongoing process that is integral to our existence. Through our financial education blog, 'The Money Doctor,' we aim to demystify financial jargon and simplify complicated financial concepts for our users. Our end goal is to help individuals make sound financial decisions, be it related to using credit responsibly, budgeting, saving, investing or otherwise."
Daniele Lavalle, Head of Product Development and Data Operations at the AECB, said, "The AECB is committed to the development of a responsible lending culture and to providing all borrowers in the UAE the right tools to be credit smart. We believe that learning how to manage your finances, understanding how credit works and knowing your credit score are all key aspects of responsible personal financial management. For the youth, who approach credit for the first time, adopting the right practices will build the foundation of their credit history, which will enable them to get easier access to credit in the future."
Hussain Al Balooshi, Senior Manager at Emirates Foundation, said, "At Emirates Foundation and since the inception of our ‘Esref Sah’ programme in 2013, we have been committed to the empowerment of youth with the right knowledge and skills to enable them to make informed and responsible financial decisions, which contribute directly to the sustainability of our economy. Today, Esref Sah has engaged and trained over 40,000 youth from across the nation and continues to reach out to a wider audience addressing the challenges of personal finance management and, most notably, debt among youth."
"Our approach has been that of a ‘financial buddy’ to empower our customers with intuitive and easy-to-use tools to manage their lifestyle and finances all in one app. We want to show customers that managing money can be fun and can help you live the life you want," Patel added.
