The Ministry of Finance (MoF) organised yesterday a workshop on personal budgeting and saving mechanisms in the Sheikh Zayed Hall at the University of Ajman. HE Younis Haji Al Khouri, Undersecretary of MoF, and HE Ali Hassan Ali, Director of Ajman Educational Zone, participated in the workshop along with a number of assistant undersecretaries of MoF. This initiative falls in line with MoF’s ongoing support for the UAE community and in its efforts to educate young Emiratis about different personal financial matters and in particularsaving concepts.”
This workshop targeted students of 13 schools in Ajman Educational Zone. It commenced with an introductory screening of MoF, followed by an overview of the Ministry and all its sectors. The workshop discussed a number of key themes i.e. saving concepts, facts and statistics and tips and guidelines to regulate the process of saving; in addition to reviewing some practical examples in this field.
Commenting on the workshop, HE Al Khouri emphasised on the importance of organising such meetings and workshops for the younger generation to help familiarize them with professional financial concepts. HE said: "MoF places the youth among the top priorities of the UAE society, where it targets them through its educational and awareness activities in a number of different areas. The Ministry aims to strengthen their personal budgeting management and to encourage a saving culture amongst them. Additionally, we realise that these initiatives will help educate the UAE community on managing their financial affairs wisely and to avoid defaulting on the debt.”
“Field studies that are continuously being conducted by MoF highlight the importance of helping the UAE community in developing and managing personal budgets. In return, this will support them in the implementation of their future projects, which enhance social and economic development in the UAE,” HE added.
Furthermore, the workshop clarified individual economic cycles, and reviewed statistics for the savings habits of the UAE society. It also explained the ‘saving triangle’ in addition to the most prominent mechanisms and steps to manage debt. The workshop concluded with an open conversation between MoF’s team and students to answer all enquiries and questions.
It’s worth mentioning that MoF constantly organises introductory meetings and workshops for students, where the Ministry previously held a meeting about the Gulf Common Market (GCM) at the American University in the Emirates (AUE) in Dubai and the UAE University in Al Ain.