A Bangladeshi crane operator in Dubai who did not even have a bank account is now Dh1 million ($272,260) richer after striking it lucky in the Mahzooz weekly draw.
Abdul Kadeer, 32, moved to the emirate 10 years ago to work for a steel company, where he earns Dh2,400 each month.
The hard-working father of two sent nearly all of his income to his family back home, leaving him with less than Dh100 for food and bills.
Now, a brighter future awaits Mr Kadeer, who plans to save for his children’s education, support his father and brother and open a cattle farm in Bangladesh.
He has been sharing a flat in Jebel Ali with eight people and is eager to create a more comfortable living situation for himself and his family.
“This changes everything for me. I will quit my job and I will move back to Bangladesh for now,” he told The National.
“When I got the call I thought someone was trying to prank me. Now, it’s slowly starting to sink in that I’m a millionaire.
“I want to help my father and brother. We will build a house in Bangladesh. I will buy my wife what she wants and we will save for our children.”
The lucky winner secured the welcome windfall after matching five out of the six winning numbers, which were 2, 17, 40, 41, 42 and 45.
Mr Kadeer won the 46th weekly live draw to become Mahzooz's 16th millionaire this year.
“I was working the nightshift and was trying to watch the draw show live on my phone, but my data kept buffering. I finally called my roommate to check the results and found out I had matched five out of six numbers in my fifth time participating,” he said.
“I want to use a portion of my prize money to help my brother and father who have been facing a lot of financial setbacks. Then I’ll build a house and rent it out – that will ensure we have a steady stream of income for years to come.”
Participants must register online and buy a Dh35 bottle of water to enter. The bottles are collected by the organisation and donated to charity.
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How to come clean about financial infidelity
- Be honest and transparent: It is always better to own up than be found out. Tell your partner everything they want to know. Show remorse. Inform them of the extent of the situation so they know what they are dealing with.
- Work on yourself: Be honest with yourself and your partner and figure out why you did it. Don’t be ashamed to ask for professional help.
- Give it time: Like any breach of trust, it requires time to rebuild. So be consistent, communicate often and be patient with your partner and yourself.
- Discuss your financial situation regularly: Ensure your spouse is involved in financial matters and decisions. Your ability to consistently follow through with what you say you are going to do when it comes to money can make all the difference in your partner’s willingness to trust you again.
- Work on a plan to resolve the problem together: If there is a lot of debt, for example, create a budget and financial plan together and ensure your partner is fully informed, involved and supported.
Carol Glynn, founder of Conscious Finance Coaching
SERIES INFO
Afghanistan v Zimbabwe, Abu Dhabi Sunshine Series
All matches at the Zayed Cricket Stadium, Abu Dhabi
Test series
1st Test: Zimbabwe beat Afghanistan by 10 wickets
2nd Test: Wednesday, 10 March – Sunday, 14 March
Play starts at 9.30am
T20 series
1st T20I: Wednesday, 17 March
2nd T20I: Friday, 19 March
3rd T20I: Saturday, 20 March
TV
Supporters in the UAE can watch the matches on the Rabbithole channel on YouTube
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UAE currency: the story behind the money in your pockets
WHAT%20IS%20THE%20LICENSING%20PROCESS%20FOR%20VARA%3F
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Young women have more “financial grit”, but fall behind on investing
In an October survey of young adults aged 16 to 25, Charles Schwab found young women are more driven to reach financial independence than young men (67 per cent versus. 58 per cent). They are more likely to take on extra work to make ends meet and see more value than men in creating a plan to achieve their financial goals. Yet, despite all these good ‘first’ measures, they are investing and saving less than young men – falling early into the financial gender gap.
While the women surveyed report spending 36 per cent less than men, they have far less savings than men ($1,267 versus $2,000) – a nearly 60 per cent difference.
In addition, twice as many young men as women say they would invest spare cash, and almost twice as many young men as women report having investment accounts (though most young adults do not invest at all).
“Despite their good intentions, young women start to fall behind their male counterparts in savings and investing early on in life,” said Carrie Schwab-Pomerantz, senior vice president, Charles Schwab. “They start off showing a strong financial planning mindset, but there is still room for further education when it comes to managing their day-to-day finances.”
Ms Schwab-Pomerantz says parents should be conveying the same messages to boys and girls about money, but should tailor those conversations based on the individual and gender.
"Our study shows that while boys are spending more than girls, they also are saving more. Have open and honest conversations with your daughters about the wage and savings gap," she said. "Teach kids about the importance of investing – especially girls, who as we see in this study, aren’t investing as much. Part of being financially prepared is learning to make the most of your money, and that means investing early and consistently."
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