Posted on March 05, 2019

Qatar Islamic Bank (QIB), in collaboration with INJAZ Qatar, delivered the program “How Money works?” at Qatar University (QU), over the course of four days with the participation from over 100 students from different faculties.

The program was delivered by QIB volunteers with the participation of two QIB senior managers as guest speakers. The first guest speaker was QIB’s Personal Banking Group General Manager, D. Anand (pictured), who during his introductory note emphasized the importance of knowing how to manage money and the fact that there is a lack of official courses at all levels of education on the subject. He stressed that the earlier in your life you develop the right financial habits the more successful you will be in your life as an individual, as an employee and as a parent.

Sharing his own personal experiences, Anand encouraged students to start earning their own money as soon as possible, through internships and part-time occupation, and not to rely solely on their parents to fund all their needs. The next step is to start saving and be very responsible towards getting credit. As one accommodates more wealth and experience he or she should seek advice from specialized banking professional on more sophisticated banking products. Anand concluded his speech by highlighting also the importance to be always humble and direct part of his / her saving towards charitable activities to support people in need.

Similarly, the second guest speaker Amgad Kamel, QIB’s Assistant General Manager - Transformation Management Division, shared his own personal experiences with the students. He continued by explaining the role of the financial industry in the society and their efforts for spreading financial literacy.  Amgad concluded by giving an overview of the changes that are taking place in the banking sector, such as the digitalization of products and services, which improve the overall customers experience and make banking services accessible to a larger population of people.   

QIB delivers How Money 2 [].jpgAfter the successful completion of the 5-hour course, students were asked to provide their feedback about the program. The comments highlighted QIB’s and INJAZ role in the successful delivery of the program and the programs unique approach in teaching them monetary value. Since the beginning of the current academic school year, the program has been delivered to more than 300 students across several schools and universities in Qatar. The program is planned to reach 1,250 students over the next three years as part of an exclusive collaboration between QIB and INJAZ Qatar.

“To help young people succeed in today’s economy, they need to be prepared to enter college and the workforce with an understanding of how to manage money,” said, Mashaal Abdulaziz Al Derham, Assistant General Manager, Head of Corporate Communications & Quality Assurance at QIB. “We believe that a higher level of financial literacy enriches an individual’s life and drives a healthy economic growth. Young individuals with sound financial knowledge, help us develop innovative, efficient and better products and solutions.”

The “How Money works?” program is a five-hour training with interactive and engaging sessions, tailored specifically to educate secondary school, university freshmen’s students aged between 15 to 19 on managing their finances. The program explores ways to earn money and manage it prudently by budgeting, saving, and investing.