The Department of Community Development and Al Mariah Bank cooperate to enhance the financial stability of families

The Department of Community Development – Abu Dhabi announced the signing of a memorandum of understanding with the local Al Mariah Bank, with the aim of enhancing the financial well-being of individuals and families, and supporting social stability, within specific initiatives that are in line with the goals of the Year of the Family and enhance the quality of life in the emirate.

This memorandum aims to design and develop initiatives that enhance financial well-being, by supporting financial awareness and establishing practices that contribute to enabling financial stability in the long term. It also focuses on unifying efforts and exchanging experiences to support the development of sustainable and measurable initiatives.

Under the memorandum of understanding, the Department of Community Development – Abu Dhabi is responsible for designing initiatives and ensuring their comprehensiveness and alignment with the legislation and policies in force in the emirate, in addition to developing a comprehensive framework for monitoring, evaluating and reporting on the social impact of these initiatives, and directing the research agenda to ensure support for the evidence-based policy-making process and the design of priority programmes, in addition to knowledge exchange and capacity building, in accordance with the needs of society and the priorities of the emirate.

In return, the local Al Mariah Bank contributes to providing the necessary resources and technical expertise to jointly design financial well-being programs, ensuring their scalability and sustainability. It leads awareness campaigns and community activities to raise awareness and stimulate participation in financial empowerment initiatives, and provides supportive financial solutions, including budgeting tools, savings options, and financial literacy learning modules, in addition to digital platforms and specialized expertise that contribute to building capabilities and facilitating program implementation, as well as providing logistical and technical support for implementing pilot programs and related community interventions.

Mohammed Hilal Al Balushi, Executive Director of the Social Participation and Empowerment Sector at the Department of Community Development – Abu Dhabi, said that the signing of the memorandum comes from the Department’s commitment to strengthening the community empowerment system through specific initiatives that target the needs of community members and support their stability and quality of life, stressing the Department’s belief that awareness and financial planning represent one of the strategic capabilities to enhance family stability and cohesion, by consolidating the concepts of financial and economic flexibility for individuals and families.

For his part, Mohammed Waseem Khayat, CEO of Al Mariah Local Bank, said that the memorandum reflects the belief of both sides that financial well-being constitutes a major basis for family stability and community prosperity in the long term, indicating that Al Mariah Bank believes that its role goes beyond traditional banking services, to include effective contribution to enhancing actual financial awareness, encouraging responsible planning, and providing easy-to-access tools that empower individuals and families at different stages of their lives.