“Financial Counselling” Program:
The Abu Dhabi Social Support Authority seeks to promote a prudent financial management model, consolidate the foundations of sound financial planning, cultivate a financial culture among family members to efficiently undertake their financial responsibilities, protect them from debt and its liabilities. It also aims at providing family members with the skills to rationalize spending, thus building a generation aware of the importance of sound financial planning and rational spending. Therefore, the authority launched the "Financial Counselling" program, which was developed in cooperation with leading financial and social institutions in the UAE.
The program aims at consolidating the foundations of sound financial planning to prepare families to efficiently undertake their financial responsibilities, protect them from debt and its repercussions, as well as equip them with skills to rationalize spending.
Program Partners:
Within the framework of the "Financial Counselling " program, the Authority held successful partnerships with accredited institutions and training centres to provide training on sustainable financial planning. Through these partnerships, the Authority provides training and rehabilitation programs to empower all members of the beneficiary families.
- 1-The authority launched the "Financial Counselling " program in cooperation with consultant Salah Al-Halyan. The program focuses on establishing the concepts of money management among the beneficiary families, setting financial goals and working on achieving them, balancing income vs expenditures in order to raise awareness of the importance of saving. It also provides the opportunity for holding one-on-one meetings with beneficiaries to identify their financial needs, create plans to manage their funds, address financial distress and debt management mechanism.
- 2-The Authority cooperates with Abu Dhabi Islamic Bank to provide an integrated platform to equip its beneficiaries with the basic skills and competencies to manage their personal budgets effectively, and to provide them with the knowledge necessary for success and leadership in financial planning. The platform features a rich portfolio of educational modules cantered on fund management, to instil a culture of positive financial behaviour among the younger generation.
- 3-The Authority launched “Gaya”, a financial education program, in cooperation with the Authority of Social Contribution – Ma’an. The program aims at teaching the Authority’s beneficiaries the foundations of financial knowledge by focusing on the theoretical and practical side. This is achieved through a wide range of topics, as well as managing personal savings and financial needs.
- 4-The Authority organised training workshops in cooperation with the Family Development Foundation. The workshops dealt with many topics such as developing sound financial planning skills for the Authority’s beneficiaries, the concepts of resource management and financial crises.