Dubai CDA and National Bonds Unite to Promote Family Financial Empowerment

Post by : Bianca Suleiman

The Community Development Authority (CDA) of Dubai has forged a collaboration with National Bonds Corporation through a Memorandum of Understanding (MoU) aimed at enhancing the financial stability and long-term wellbeing of families. This initiative is part of the Sheikha Hind bint Maktoum Family Programme and aligns with the objectives of Dubai Social Agenda 33 and the Year of the Family.

The program emphasizes a dual approach of providing economic and social support by fostering financial literacy and incentivizing savings among families. The goal is to lay a solid groundwork for financial security right from the beginning of family life, ultimately improving overall quality of life and reinforcing social stability.

Under this agreement, both parties will host as many as 12 awareness workshops each year. Targeting newlyweds and those approaching marriage, these sessions will delve into essential topics, including savings, budgeting, and long-term financial strategy.

A newly launched initiative called the “Financial Clinic” will evaluate the financial wellness of families, offering tailored guidance and educational programs that promote responsible financial behavior and ensure enduring economic sustainability.

Additionally, National Bonds will bestow a savings bond of AED 1,000 to each newborn belonging to families participating in the program. This initiative is aimed at instilling a culture of savings right from infancy and aiding in financial planning for the future.

Hessa bint Essa Buhumaid, Director General of Dubai’s CDA, remarked that this partnership signifies the authority’s dedication to empowering families and fortifying social structures. She emphasized that investing in families is crucial for cultivating a stable, sustainable society.

Mohammed Qasim Al Ali, Group CEO of National Bonds, asserted that fostering financial awareness should start from birth. He pointed out that early financial assistance equips families to develop better money management habits, ultimately leading to long-term stability.

This cooperation will also enable the sharing of expertise and data within established frameworks, facilitating the design of effective, data-driven programs that measure the success of initiatives and enhance the efficiency of social development efforts.

This partnership underscores Dubai’s ongoing commitment to enhancing family welfare, financial empowerment, and sustainable community growth.

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