Mohammed bin Rashid Innovation Fund"National Bonds" They cooperate to promote financial culture and entrepreneurship

DUBAI, July 15, 2017 (WAM) – The Mohammed bin Rashid Innovation Fund, the initiative launched by the Ministry of Finance to support the innovation and entrepreneurship system in the UAE, signed a memorandum of understanding with National Bonds, the Sharia-compliant savings and investment company in the UAE, with the aim of unifying efforts to enhance financial culture, consolidate the concepts of entrepreneurship, and empower youth by launching qualitative initiatives that focus on education, capacity building, and knowledge exchange at the state level.

Fatima Yousef Al Naqbi, Acting Assistant Undersecretary of the Ministry of Finance for the Support Services Sector, and the Ministry’s representative in the Mohammed bin Rashid Innovation Fund, affirmed the Fund’s commitment to supporting the UAE’s transformation towards a knowledge-based economy by empowering those with ideas and ambitions who will lead the future’s journey. The partnership with National Bonds is an important step to enhance the integration between innovation and financial flexibility. Integrating financial culture into initiatives that support entrepreneurship will contribute to enabling founders and youth to acquire the knowledge and skills necessary to build companies capable of adapting, growing, and keeping pace with the requirements of the future, thus contributing to supporting the sustainable economic growth of the UAE.

Under the agreement, National Bonds will organize a series of workshops and interactive sessions dedicated to members of the Mohammed bin Rashid Innovation Fund and concerned parties, focusing on basic financial principles, including financial culture, investment awareness, wealth-building strategies, and practical financial planning.

The Mohammed bin Rashid Innovation Fund will contribute to providing specialized educational content focusing on entrepreneurship, including organizing awareness sessions, sharing inspiring success stories for founders, and launching innovative initiatives to exchange knowledge, which will contribute to inspiring and guiding aspiring entrepreneurs.

For her part, Rehab Lootah, Executive Vice President of the National Bonds Group, said that the partnership with the Mohammed bin Rashid Fund for Innovation embodies the integration between entrepreneurial thought and financial awareness, as they are two basic pillars for building a new generation of innovators and entrepreneurs in the UAE, and supporting the country’s goals in consolidating its position as a global center for innovation and finance, pointing out that financial culture is no longer just an awareness concept, but has become a strategic infrastructure for the knowledge economy, and a major factor in Sustainability of the innovation and entrepreneurship system; Empowering innovators with sound financial tools transforms promising ideas into projects capable of growth, resilience, and effective contribution to the national economy.

She added that National Bonds continues to employ its more than two decades of experience in spreading financial awareness through the “Wa’i” program, which specializes in financial culture, and which targets various members of society, from school and university students, generational creators, to government and private sector employees, in a way that contributes to building a more aware society, and more capable of contributing to a competitive and sustainable knowledge economy.

Through this partnership, the two parties will work to explore opportunities to support financial education programs and youth investor programs provided by National Bonds.

These initiatives aim to provide young people and individuals with practical skills in the financial and entrepreneurial fields, thus qualifying them to deal with accelerating global economic changes.

The cooperation will include specialized capacity-building initiatives, in addition to trainer preparation sessions, aimed at enhancing the quality of implementation of entrepreneurship and financial education programs and maximizing their impact, to ensure that trainers and mentors are provided with the latest tools and knowledge necessary to guide the next generation.

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