Dubai-UAE: Emirates Institute for Banking and Financial Studies (EIBFS), a regional leader in banking and finance education and training, today hosted a webinar in collaboration with Tanfeeth, the first large-scale shared services organization in the GCC region and part of Emirates NBD. The workshop aimed to educate young adults to cope with unexpected lifestyle changes by taking control of their personal finances.
Drawing the participation of approximately 40 EIBFS students, the session was delivered in three informative modules, and enabled students to develop a deep understanding of financial concepts and the budgeting process in order to make better informed decisions in achieving financial wellness. In addition, the session highlighted the importance of making SMART goals when planning and saving.
Several research studies conducted around the world have revealed the imperative need for increased financial literacy in young adults. A worrying global trend suggests that young adults have a higher tendency to overspend and default on payments, which may be attributed to low financial skills and discipline.
Speaking on the webinar, Jamal Al Jassmi, General Manager of EIBFS, said: “Financial education is a core objective for EIBFS and we take our role of educating and empowering our students to better manage their personal finance and improve their overall lifestyle very seriously. We are proud to partner with Tanfeeth to ensure that the UAE’s youth benefit from a strong financial foundation to help them navigate their journeys with greater confidence as they maximize their potential.”
For her part, Fatima Abdulrahman, Chief Human Resources Officer of Tanfeeth said: “Over the years, Tanfeeth has made a commitment and responsible decision to take a mindful and more active role in our employee wellbeing. We have now learnt the importance of taking a more holistic approach to our employee wellbeing programs and that includes adding financial wellbeing as a new pillar into our overall employee wellbeing strategy. Financial Wellbeing is equally as important as focusing on physical and mental health, as it is a huge factor that can negatively impact our employee’s lives, affect their mental wellbeing and hinder their ability to perform their daily tasks if not managed properly. To this end, our ‘Financial Wellbeing’ workshop is extremely relevant to the times and can help cope with the unexpected lifestyle changes that the COVID-19 pandemic has brought about in people’s lives.”
© Press Release 2021