INJAZ Bahrain and HSBC boost financial literacy in youth
- Bahrain: Monday, January 28 - 2013 at 12:09
- PRESS RELEASE
For the fifth consecutive year, INJAZ Bahrain and HSBC are partnering to deliver the "More than Money" initiative, an innovative program which equips Bahrain's youth with the basic financial literacy skills they need to succeed in the 21st-century economy.
"We are pleased to continue our partnership with HSBC in this important program which promotes innovative thinking and positive attitudes while instilling basic financial concepts to help our youth reach their career aspirations, whether as entrepreneurs or employees," said INJAZ Bahrain Executive Director Sheikha Hessa bint Khalifa Al Khalifa.
"More than Money" instils the significance of earning, spending, sharing and saving money to the future generation, in addition to the businesses they can initiate or jobs they can undertake to earn money, particularly in light of the recent economic downturn.
The program was created to provide the students with a better understanding of the relationship between what they learn at school and their successful participation in a worldwide economy through a variety of hands-on activities and technological supplements designed to support differentiated learning styles. The program will further encourage them to use innovative thinking while developing money-management skills that support positive attitudes as they explore and enhance their career aspirations.
"We need to reach children early and provide the tools that will help them make wise decisions about money," said Patrick J Gallagher, Chief Executive Officer of HSBC Bahrain. "The concepts of financial literacy can be reinforced and built upon as these young students become adults and are faced with important financial decisions."
Fatima Mahfoodh, a student participating in the program from Aali Intermediate Girls School said, "I am learning how to become a smart consumer and plan how I can reach my career aspirations. Moreover, I learned about different concepts such as the difference between 'personal customers' versus the 'commercial customers'. I thank INJAZ and HSBC for this valuable opportunity, and hope all my friends and fellow students benefit from this program as I did."
The joint initiative began in 2008 when HSBC Holdings teamed up with INJAZ Bahrain's mother organization Junior Achievement (JA) Worldwide to sponsor and implement "More than Money" program around the world.
This year, HSBC will contribute $1.4m to the program worldwide, bringing HSBC's total program contribution to date to $7.3m. This support will bring the program this academic year to students in 31 countries, via 34 participating JA organizations, including INJAZ Bahrain.
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