Financial literacy program application open for aspiring finfluencers in UAE
The Federal Youth Authority, in collaboration with the Central Bank of the UAE and the Securities and Commodities Authority, has launched the Youth Financial Advisors Programme. This four-month intensive training initiative is designed to empower Emirati youth aged 25-32 with expert knowledge in financial literacy, transforming them into certified financial advisors.
The programme focuses on seven core modules, encompassing financial literacy fundamentals, monetary economics, entrepreneurial finance, and investment strategies. Participants engage in over 30 hours of education, featuring hands-on workshops, visits to financial institutions, and hackathons to foster innovative financial solutions.
To be eligible for the programme, candidates must meet specific criteria. They must be UAE nationals with university degrees in business, finance, economics, or law, and at least one year of relevant work experience. Candidates without these degrees require three years of experience in financial services. Strong communication skills and proficiency in Arabic and English are also essential.
Upon completion, graduates receive three credentials: a certificate of completion from the Federal Youth Authority, registration as a Financial Influencer by the Securities and Commodities Authority, and certification as a Central Bank Financial Literacy Trainer. Graduates then conduct volunteer training sessions to disseminate financial knowledge among their peers and build a national network of qualified financial consultants.
The Youth Financial Advisors Programme is a significant step towards addressing financial challenges faced by UAE residents. Recent studies indicate that 50 percent of UAE residents spend more than they earn, and over 60 percent are in debt, primarily due to credit card and personal loan expenses. Financial literacy among UAE residents stands at 30.7 percent, significantly lower than other international players.
By enhancing the financial expertise of Emirati youth, the programme aims to improve financial decision-making among youth, encourage saving and investing, and help participants benefit from investment opportunities in the UAE market. This initiative supports financial awareness, independence, and career development under the National Youth Agenda 2031 and the Emirates Youth Professional School initiative.
The programme reflects a commitment to train young Emirati professionals to contribute to a knowledge-based economy. Young Emiratis spend more money monthly compared to their expatriate peers, with males spending around Dh2,000 and females Dh1,656, while expatriate males spend Dh1,152 and females Dh606. By equipping Emirati youth with financial literacy skills, this programme aims to promote financial independence and responsible spending habits.
Registration for the Youth Financial Advisors Programme is now open through the Federal Youth Authority website. Take this opportunity to embark on a journey towards financial expertise, personal growth, and a promising career in the financial sector.
- The four-month Youth Financial Advisors Programme, launched by the Federal Youth Authority, focuses on education and self-development, specifically in the areas of financial literacy, monetary economics, entrepreneurial finance, and investment strategies.
- To be eligible for the programme, candidates must have a university degree in business, finance, economics, or law, and at least one year of relevant work experience; those without these degrees require three years of experience in the finance industry.
- Upon completion, graduates of the Youth Financial Advisors Programme will receive three credentials, including a certification as a Central Bank Financial Literacy Trainer, which they can use to conduct volunteer training sessions in education, thereby disseminating financial knowledge among their peers.
- The Youth Financial Advisors Programme is designed to address financial challenges faced by UAE residents, as recent studies indicate that 50 percent of UAE residents spend more than they earn, and over 60 percent are in debt.
- By equipping Emirati youth with financial literacy skills, the programme aims to promote financial independence and responsible spending habits, thereby contributing to a knowledge-based economy and supporting the National Youth Agenda 2031 and the Emirates Youth Professional School initiative.
