Muharraq Secondary Commercial Boys School Wins the Competition held at Citibank House in Seef District
Bahrain - Five school teams have recently participated in InJaz Bahrain Banks in Action (BIA) Competition, sponsored by Citibank Bahrain and held at the bank's Headquarters at the Seef District. Muharraq Secondary Commercial Boys School team was declared winner following a stringent grading process.
Citibank is a global partner with Junior Achievement (JA) Worldwide, the parent organization of inJAz Bahrain. JA Worldwide is the world's largest organization dedicated to educating young people about business, economics and entrepreneurship.
Through a dedicated volunteer network, JA Worldwide provides in-school and after-school programs for students in grades K-12 and offers educational programs that focus on seven key content areas: business, citizenship, economics, entrepreneurship, ethics/character, financial literacy, and career development.
In the Middle East, InJaz Al-Arab, JAW's regional arm, has trained 300,000 Arab students with the help of 10,000 corporate volunteers and partnerships with ministries of education since it began in 1999.
In 2007 the Citigroup Foundation announced a grant in excess of $1 million to JA Worldwide™ to launch BIA program which aims at educating high school students about the banking industry and career opportunities in this sector through virtual simulations and competitions in which teams of students assume the role of bankers and make banking decisions.
Through online computer simulation, students form groups to operate a bank and get confronted by a set of challenging situations experienced in the real banking sector. Students make banking decisions and choices that would, in turn, affect their banks survival and success.
To win the competition, they must set interest rates on funds for short and long-term deposits and loans to attract savers and borrowers, and determine how much to invest in marketing, research and development to lower the cost of operations. The most successful student bankers are those who create a winning strategy to best serve their customers, manage their bank's assets and liabilities, and increase their profits.
The student Fahad Osama Hassan from Al-Hidaya Al-Khalifia School for boys, who took part in the competition, said: "I learned how to manage my money and how banks operate during this experience. I know more now about the banking industry and the career opportunities in that field...it's a great way of learning and a true eye opener..."
"I would like to thank Citibank for providing this unique, innovative learning experience, coupled with valuable work readiness and financial literacy education to the young Bahrainis," said Sheikha Hessa Bint Khalifa AKhalifa, Executive Director of inJAz Bahrain. "We are also incredibly grateful to Citi employees for volunteering their time to mentor students and deliver this program."
Mazin Manna, CEO of Citi Bahrain and inJAz Bahrain board member, commented: "inJAz Bahrain and Citi share a common belief that financial literacy is an important life skill for young people in today's global economy. We hope many of the participants were inspired to pursue careers in the financial services industry, as well as gained an understanding of how financial institutions help people manage their money and achieve their future goals."
Citi has been in the Arab World for nearly 50 years and continues to view the region as critical to its global franchise. It is currently present in ten Arab countries including Egypt, UAE, Lebanon, Jordan, Tunisia, Morocco, Algeria, Bahrain, Qatar and Kuwait.
For the past four decades, Citibank Bahrain has evolved into a premium provider of state-of-the-art banking services as well as becoming an active corporate citizen, with a particular interest in supporting financial education and developing Bahrain's talent pool.
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Citi
Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 140 countries. Through Citicorp and Citi Holdings, Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management. Additional information may be found at www.citigroup.com or www.citi.com.
About inJAz Bahrain:
The purpose of inJAz Bahrain is to inspire and prepare young Bahrainis to succeed in a global economy. With the support of positive adult role models who volunteer their time, inJAz Bahrain enables young consumers to understand business, citizenship, economics, entrepreneurship, ethics/character, financial literacy and work-readiness. The programs also encourage confidence and motivate young people to achieve their personal, educational, and career goals. These learning experiences establish the foundation upon which today's students can acquire the skills and aptitudes necessary to succeed in a fast-changing world.
inJAz Bahrain volunteers are supported by 16 committed community leaders who serve on the board of directors. These professionals provide the organization with valued guidance and support. In addition, inJAz Bahrain works with a number of local collaborations and affiliations. These relationships ensure that efforts are not duplicated and that available resources are used in the most effective manner possible.
As not- for-profit organization, inJAz Bahrain began serving the community in 2005. It is supported by funds generously granted by foundations and area businesses. Individuals also donate to the organization, and they assist with fund-raising activities throughout the year. The organization is part of Junior Achievement Worldwide that has a presence in more than 123 countries around the world.
For more information on inJAz Bahrain, please call Badria Naqi on 17225050 or visit www.injazbh.org
Media Contact:
Bashayer Dhaif
Citi Public Affairs
+973 17 586 293
© Press Release 2010
