JA more than money™ launched to teach financial skills to young children
HSBC Holdings plc and JA Worldwide® today launch a $3.4 million, three-year, global programme to teach basic financial skills to children. JA More than Money™ will expand globally one of JA Worldwide’s most successful youth financial literacy programmes and involve HSBC staff initially in 15 countries including UAE, Oman and Egypt. This strategic commitment is designed to build upon the breadth and depth of HSBC’s commitment to financial education and its support for JA Worldwide, known as Injaz Al Arab in the Arab World.
JA More than Money™ will teach students about earning, spending, sharing and saving money and about businesses they can start or jobs they can perform to earn money. This programme will be localised and Arabised during its pilot year and will then be rolled out in other Middle Eastern countries.
When assessed by an independent evaluator in 2007, results showed conclusively that the seven to eleven year old students who had participated in this curriculum in the United States demonstrated significantly greater knowledge and retention of financial concepts compared to their non-participating peers.
“This programme will address the changing needs of young students in the UAE at an age when financial literacy is not being offered. It will have a positive impact on their behaviour as future professionals and conscious consumers. It can also help students apply their mathematical teachings to everyday life, resulting in a more comprehensive and practical learning experience,” said Sheikh Khaled Bin Zayed Al-Nehayan, Vice Chairman of INJAZ Al-Arab and Chairman of INJAZ – UAE.
““By supporting JA More than Money, HSBC is committed to improving financial literacy for children throughout the region. Equipping our children with the skills and knowledge that enables them to make wise financial decisions throughout their lifetime will not only support aspects of their life such as education and travel but will also benefit our local communities as they learn about the value of money and financial responsibility,” said Youssef Nasr, CEO of HSBC Bank Middle East Limited.
With funding from HSBC, JA More than Money™ will be localised and trialled in 15 countries across five continents in the 2008 – 2009 academic year. The program is expected to be rolled out to many more countries in the following academic year. JA More than Money™ aims to reach [over 100,000] children in its first three academic years.
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