Emirates NBD launches ‘Pay Yourself First’

Press release
Published April 22nd, 2012 - 05:05 GMT

Emirates NBD, a leading bank in the region, announced today the launch of “Pay Yourself First,” an innovative financial education campaign designed to encourage individuals to manage their finances responsibly, and improve their personal saving habits. 

Through a series of online tools and helpful tips, linked to a dedicated Facebook page and microsite (www.PYFpledge.com), individuals enrolled in “Pay Yourself First Pledge” are encouraged to set aside savings as soon as they receive their income, instead of waiting till all expenses are met. 

Launched by Emirates NBD as a public service initiative, and in line with the bank’s commitment to financial literacy and personal savings, “Pay Yourself First” has been introduced in partnership with leading international and local organisations, including Google, The National, Motivate Publishing, AMED Publishing, ITP Publishing, Mediaquest Corp. , Mondanite, Mastermind Publishing,  Lux Media, Alam Attijarat, Al Wataniya, 7 Days, NeoPromo , Dubai TV, Sony TV, Asia Net TV, Suno FM, Channel 4 Group, Hello FM,  Hills Advertising, Arabian Outdoor, Kassab Outdoor and ENG. 

“As one of the leading local financial services provider in the UAE, Emirates NBD is committed to servicing the community in terms of providing innovative financial products and services, as well as leading them to financial well being,” said Vikram Krishna, Head – Group Marketing, Emirates NBD. “We are pleased to launch the “Pay Yourself First Pledge” campaign, which encourages and facilitates people to develop a smart saving habit, while empowering them with various tips to spend less and save more.” 

“Pay Yourself First Pledge” is being unveiled with the launch of a dedicated Facebook page, where people can log in and take a pledge that they will pay themselves a certain amount of money, to be set aside for saving. Those signing up on the Facebook page and website would automatically have access to a variety of smart saving tips that would assist them in spending less during the month. 

The public forum on Facebook would also include several innovative ideas and calculations to help participants understand how seemingly inconsequential changes in daily habits can lead to substantial savings over the longer term. The Facebook page can be accessed at: www.facebook.com/pyfpledge 

“The publicly expressed pledge is neither mandatory nor binding in any way, and also does not have any financial consequences. It will serve predominantly as an emotional commitment that will inspire people to reassess their saving and spending habits,” added Krishna.

Background Information

Emirates NBD

Emirates NBD, the leading banking group in the region, was formed on 19 June 1963, when H.H. Late Sheikh Rashid bin Saeed Al Maktoum signed the Charter of Incorporation of the National Bank of Dubai (NBD) which became the first National Bank established in Dubai and the United Arab Emirates (UAE). With the blessings of H.H. Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, NBD merged with Emirates Bank International (EBI) on 06 March 2007, to form Emirates NBD, the largest banking group in the region by assets. On 16 October 2007, the shares of Emirates NBD were officially listed on the Dubai Financial Market (DFM). The merger between EBI and NBD to create Emirates NBD, became a regional consolidation blueprint for the banking and finance sector as it combined the second and fourth largest banks in the UAE to form a banking champion capable of delivering enhanced value across corporate, retail, private, Islamic and investment banking throughout the region.

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