Robert Kiyosaki, bestselling author of Rich Dad, Poor Dad and an educational entrepreneur, has long argued for financial literacy to be taught in schools and not only at home. Money enables prosperity and understanding its impact in society is critical.
Rich Dad, Poor Dad was published in 1997 and, while financial education in schools still has a long way to go 25 years on, there has been some progress — as well as published data that highlights the positive economic impact of a financial education.
While in the past decade emphasis on science, technology, engineering and mathematics (Stem) has increased amid global educators, they have traditionally overlooked effective financing, budgeting, saving and spending as critical subject matters.
However, there has been a shift in tides. For example, the Financial Capability Strategy for the UK outlines the social benefits of financially literate children, while countries like the UAE and Saudi Arabia consider financial education a key component towards delivering their long-term national visions.
Governments are beginning to recognise the positive impact of equipping current and future citizens with important financial literacy tools.
They are acting on research published by international organisations such as the Organisation for Economic Co-operation and Development (OECD), which said: “Supporting financial education can be viewed by the main public, private and civil stakeholders as a critical long-term investment in human capital.”
The benefits of a financially literate population are also being more widely recognised as a key driver of inclusion.
Financial literacy has even evolved into an area of academic study with frameworks such as the National Standards for Financial Literacy outlining a basic curriculum for teaching personal finance at every school level — from kindergarten through to Year 12.
One of the OECD’s key initiatives to drive financial literacy is Global Money Week (GMW), an annual global awareness campaign on the importance of ensuring that young people, from an early age, are financially aware and gradually acquiring the knowledge, skills and attitudes necessary to make sound financial decisions that set them up for financial well-being and resilience.
During this year’s edition of GMW, held from March 21 to 27, Visa conducted a series of financial literacy educational workshops in collaboration with governments and a financial institution in Cameroon and Cote d’Ivoire. In the UAE, we collaborated with Cashee, a FinTech that focuses on teenagers’ access to financial education in their learning journey.
These engagements provide partners with an opportunity to leverage networks to scale access to tools and techniques to build their future by being smart about money. They also demonstrate a multi-stakeholder commitment to position financial education as the new Stem.
The ultimate goal is to have curriculums across the region reflect the need to have financial education as one of the key languages that will differentiate young people in the future of work.
We are conscious of the fact that the responsibility to address this knowledge gap does not rest solely on teachers and academic staff.
Governments are beginning to recognise the long-term impact of equipping current and future citizens with important tools of financial literacy
Carl Manlan,
vice president for inclusive impact and sustainability for Central and Eastern Europe, Middle East and Africa at Visa
The financial sector has industry leaders and we continue to leverage our network to make practical money and business skills platforms available to teachers and other educators.
An effective dissemination of financial education for everyone, everywhere is an achievable goal.
As we transition to models of entrepreneurship, learning institutions must be supported in their initiatives to provide students with a sound financial education.
The benefits accrue to society as a whole, therefore companies in the financial sector and across other sectors have an opportunity to join forces for the greater good of communities near and far.
Making Stem accessible to more offers a blueprint for financial education. Today’s students, strong in Stem, are tomorrow’s entrepreneurs, engineers, scientists and many others who need to be excellent at managing their financial resources.
Financial education is the solution to compound opportunities over time.
While the explosive growth of the technology sector has resulted in an unprecedented number of students becoming interested in Stem, we have an opportunity to complement their skills with financial education.
We are conscious of the limitation that an individual may have when his or her skillset lacks the fundamentals of financial education — be it budgeting, savings, financial services, credit and probably now digital skills or identity theft.
However, our collaboration encourages an equally powerful emphasis on education in personal finance to help people overcome these issues.
Carl Manlan is Visa’s vice president for inclusive impact and sustainability for Central and Eastern Europe, Middle East and Africa
Red flags
- Promises of high, fixed or 'guaranteed' returns.
- Unregulated structured products or complex investments often used to bypass traditional safeguards.
- Lack of clear information, vague language, no access to audited financials.
- Overseas companies targeting investors in other jurisdictions - this can make legal recovery difficult.
- Hard-selling tactics - creating urgency, offering 'exclusive' deals.
Courtesy: Carol Glynn, founder of Conscious Finance Coaching
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UAE currency: the story behind the money in your pockets
UAE currency: the story behind the money in your pockets
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COMPANY%20PROFILE
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Zakat definitions
Zakat: an Arabic word meaning ‘to cleanse’ or ‘purification’.
Nisab: the minimum amount that a Muslim must have before being obliged to pay zakat. Traditionally, the nisab threshold was 87.48 grams of gold, or 612.36 grams of silver. The monetary value of the nisab therefore varies by current prices and currencies.
Zakat Al Mal: the ‘cleansing’ of wealth, as one of the five pillars of Islam; a spiritual duty for all Muslims meeting the ‘nisab’ wealth criteria in a lunar year, to pay 2.5 per cent of their wealth in alms to the deserving and needy.
Zakat Al Fitr: a donation to charity given during Ramadan, before Eid Al Fitr, in the form of food. Every adult Muslim who possesses food in excess of the needs of themselves and their family must pay two qadahs (an old measure just over 2 kilograms) of flour, wheat, barley or rice from each person in a household, as a minimum.
Other workplace saving schemes
- The UAE government announced a retirement savings plan for private and free zone sector employees in 2023.
- Dubai’s savings retirement scheme for foreign employees working in the emirate’s government and public sector came into effect in 2022.
- National Bonds unveiled a Golden Pension Scheme in 2022 to help private-sector foreign employees with their financial planning.
- In April 2021, Hayah Insurance unveiled a workplace savings plan to help UAE employees save for their retirement.
- Lunate, an Abu Dhabi-based investment manager, has launched a fund that will allow UAE private companies to offer employees investment returns on end-of-service benefits.
Infiniti QX80 specs
Engine: twin-turbocharged 3.5-liter V6
Power: 450hp
Torque: 700Nm
Price: From Dh450,000, Autograph model from Dh510,000
Available: Now
Killing of Qassem Suleimani
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
The 12 Syrian entities delisted by UK
Ministry of Interior
Ministry of Defence
General Intelligence Directorate
Air Force Intelligence Agency
Political Security Directorate
Syrian National Security Bureau
Military Intelligence Directorate
Army Supply Bureau
General Organisation of Radio and TV
Al Watan newspaper
Cham Press TV
Sama TV
Specs
Engine: Duel electric motors
Power: 659hp
Torque: 1075Nm
On sale: Available for pre-order now
Price: On request
The design
The protective shell is covered in solar panels to make use of light and produce energy. This will drastically reduce energy loss.
More than 80 per cent of the energy consumed by the French pavilion will be produced by the sun.
The architecture will control light sources to provide a highly insulated and airtight building.
The forecourt is protected from the sun and the plants will refresh the inner spaces.
A micro water treatment plant will recycle used water to supply the irrigation for the plants and to flush the toilets. This will reduce the pavilion’s need for fresh water by 30 per cent.
Energy-saving equipment will be used for all lighting and projections.
Beyond its use for the expo, the pavilion will be easy to dismantle and reuse the material.
Some elements of the metal frame can be prefabricated in a factory.
From architects to sound technicians and construction companies, a group of experts from 10 companies have created the pavilion.
Work will begin in May; the first stone will be laid in Dubai in the second quarter of 2019.
Construction of the pavilion will take 17 months from May 2019 to September 2020.
The Ashes
Results
First Test, Brisbane: Australia won by 10 wickets
Second Test, Adelaide: Australia won by 120 runs
Third Test, Perth: Australia won by an innings and 41 runs
Fourth Test: Melbourne: Drawn
Fifth Test: Australia won by an innings and 123 runs
The National's picks
4.35pm: Tilal Al Khalediah
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6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young
The specs
Engine: 4.0-litre V8 twin-turbocharged and three electric motors
Power: Combined output 920hp
Torque: 730Nm at 4,000-7,000rpm
Transmission: 8-speed dual-clutch automatic
Fuel consumption: 11.2L/100km
On sale: Now, deliveries expected later in 2025
Price: expected to start at Dh1,432,000
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Killing of Qassem Suleimani
Why are asylum seekers being housed in hotels?
The number of asylum applications in the UK has reached a new record high, driven by those illegally entering the country in small boats crossing the English Channel.
A total of 111,084 people applied for asylum in the UK in the year to June 2025, the highest number for any 12-month period since current records began in 2001.
Asylum seekers and their families can be housed in temporary accommodation while their claim is assessed.
The Home Office provides the accommodation, meaning asylum seekers cannot choose where they live.
When there is not enough housing, the Home Office can move people to hotels or large sites like former military bases.
Tearful appearance
Chancellor Rachel Reeves set markets on edge as she appeared visibly distraught in parliament on Wednesday.
Legislative setbacks for the government have blown a new hole in the budgetary calculations at a time when the deficit is stubbornly large and the economy is struggling to grow.
She appeared with Keir Starmer on Thursday and the pair embraced, but he had failed to give her his backing as she cried a day earlier.
A spokesman said her upset demeanour was due to a personal matter.
COMPANY PROFILE
Initial investment: Undisclosed
Investment stage: Series A
Investors: Core42
Current number of staff: 47
Profile of Tarabut Gateway
Founder: Abdulla Almoayed
Based: UAE
Founded: 2017
Number of employees: 35
Sector: FinTech
Raised: $13 million
Backers: Berlin-based venture capital company Target Global, Kingsway, CE Ventures, Entrée Capital, Zamil Investment Group, Global Ventures, Almoayed Technologies and Mad’a Investment.
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The specs
Engine: 4.0-litre flat-six
Torque: 450Nm at 6,100rpm
Transmission: 7-speed PDK auto or 6-speed manual
Fuel economy, combined: 13.8L/100km
On sale: Available to order now
EPL's youngest
- Ethan Nwaneri (Arsenal)
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AT4 Ultimate, as tested
Engine: 6.2-litre V8
Power: 420hp
Torque: 623Nm
Transmission: 10-speed automatic
Price: From Dh330,800 (Elevation: Dh236,400; AT4: Dh286,800; Denali: Dh345,800)
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What is the Supreme Petroleum Council?
The Abu Dhabi Supreme Petroleum Council was established in 1988 and is the highest governing body in Abu Dhabi’s oil and gas industry. The council formulates, oversees and executes the emirate’s petroleum-related policies. It also approves the allocation of capital spending across state-owned Adnoc’s upstream, downstream and midstream operations and functions as the company’s board of directors. The SPC’s mandate is also required for auctioning oil and gas concessions in Abu Dhabi and for awarding blocks to international oil companies. The council is chaired by Sheikh Khalifa, the President and Ruler of Abu Dhabi while Sheikh Mohamed bin Zayed, Abu Dhabi’s Crown Prince and Deputy Supreme Commander of the Armed Forces, is the vice chairman.
Volvo ES90 Specs
Engine: Electric single motor (96kW), twin motor (106kW) and twin motor performance (106kW)
Power: 333hp, 449hp, 680hp
Torque: 480Nm, 670Nm, 870Nm
On sale: Later in 2025 or early 2026, depending on region
Price: Exact regional pricing TBA
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New schools in Dubai
