Posted on May 13, 2018

Qatar Islamic Bank (QIB), Qatar’s leading Islamic Bank, has signed an exclusive agreement with INJAZ Qatar, a leading non-profit organization focused on youth economic empowerment, to sponsor a three-year financial literacy program for selected high schools and universities in Qatar. The agreement was signed by Bassel Gamal, QIB Group CEO and Emad Al Khaja, INJAZ Qatar CEO at the Bank’s Headquarters at Grand Hamad Street.

The QIB-INJAZ collaboration will launch a new “Personal Finance Program” curriculum. The program is a five-week training with interactive and engaging sessions tailored specifically for high school students and university freshmen, aged from 15 to 19 years old. QIB and INJAZ Qatar will offer the program to 1,250 university and high school students over the coming 3 years, starting from academic year 2018/2019. QIB expert staff have also committed to delivering program sessions alongside INJAZ Qatar volunteers. 

Today’s youth lack the necessary education on topics such as banking, investment, and budgeting - education which is critical to leading a healthy and stable life. Around the World, there is a growing interest in requiring personal finance classes for youth, QIB saw the need to take action. Together with INJAZ, QIB adapted a specialized curriculum to meet the specific needs of Qatar’s population, and the strong foundational capabilities of the bank.

Commenting on the agreement, Mashaal Abdulaziz Al Derham, Assistant General Manager, Head of Corporate Communications & Quality Assurance at QIB said: “QIB is committed to invest in Qatari youth and empowering them by strengthening their financial literacy. Fostering a society where youth can responsibly manage their money is vital for a successful financial future.” She added, “We are pleased to partner with INJAZ Qatar and start a student financial literacy program to achieve a nationwide objective. Together with INJAZ Qatar, we will embrace young talents, educate, and prepare them for the financial world.”

Emad Al Khaja, CEO of INJAZ Qatar commented: “A crucial part of living a meaningful and productive life, is being able to manage your finances and maximize its value. So, the earlier we teach students the importance of personal finances, the better we equip them to face the challenges that lie ahead. INJAZ Qatar realizes this and over the past decade, has been actively involved in introducing the concept of financial literacy to students across Qatar. This year, we’re delighted to work with QIB for the same objective.” He added “Additionally, in our efforts to ensure that the "Personal Finance" course is more in line with local cultural requirements, we’ve incorporated Islamic banking principles into the program. I would like to thank QIB for collaborating with us and supporting our mission to equip young people in Qatar with the necessary skills to take sound financial decisions.”

The “Personal Finance Program” explores ways to earn money and spend it wisely by budgeting, saving, and investing. Courses include the cautious use of credit cards, and protecting your personal finances. “Whether it is through managing a bank account, investment, or finance instrument, managing money needs to be learnt at an early age,” said Mashaal Abdulaziz Al Derham. “This program will help students efficiently navigate money management and savings while providing them with an overarching understanding of finance, banking, and investment.”

INJAZ Qatar is part of INJAZ Al-Arab, a network of 14 MENA countries working on a common mission to prepare and inspire young Arabs to succeed in a global economy. Founded in 2007, INJAZ Qatar has since reached over 51,000 students across 75 schools and universities, thanks to 80 corporate partners and over 1,800 corporate volunteers.