cashy launches UAE Saves Week

cashy launches UAE Saves Week
07 September 2012

cashy.me, the Arab world’s first social media platform dedicated to how money affects our lives, aims to create a savings culture in the UAE with the launch of the region’s first national financial savings programme, UAE Saves Week.

The week, which will run from 23-29 September, will bring together initiatives in financial literacy and money management to promote savvy money skills among UAE nationals and residents.

UAE Saves Week will feature a comprehensive programme of events designed to promote personal financial education, with each day taking a different theme. One day will focus on helping people to boost their bank balance by kicking bad habits, while another will aim to boost financial literacy among our youth and create a generation of ‘cashy kids’.

Nima Abu-Wardeh, founder and chief executive of cashy.me and its sister site for young people CampusCashy.com, says: “Research indicates that only 30% of UAE residents have regular savings and the majority of people have less than three months’ salary put aside to fall back on in an emergency.

“As a nation, we’re heavily indebted – largely the result of our ‘flash the cash’ culture, whereby people bow to a perceived societal pressure to have the latest gadget or newest car.

“With the economic downturn, the bubble has burst and many people are realising the error of their ways, but we still have a long way to go to cultivate a strong savings culture here in the UAE.

“During UAE Saves Week people will be able to learn how small, simple changes can make a big difference to their savings habits and overall financial wellbeing to help us become a more money savvy nation.”

Youth financial literacy is a key element of UAE Saves Week; fostering solid money habits while young brings a multitude of benefits in adult life. The youth of today will play a major part in creating economic stability and prosperity in the UAE, and educating our youth about the importance of saving money will help them to forge a brighter financial future.

Abu-Wardeh says: “Alvin Toffler, the American writer and futurist famously said: ‘The illiterate of the 21st century will not be those who cannot read and write, but those who cannot learn, unlearn, and relearn’.

“Financial behaviours are able to be re-learned and UAE Saves Week is about giving people indispensable tools for learning the skills that are essential to our financial health. Better money management ultimately leads to a better quality of life.”

Join the cashy community at cashy.me to be kept updated on UAE Saves Week activities.

About cashy

Launched in July 2010, cashy.me is the Arab world’s first dedicated personal finance social media platform. Its sister site, CampusCashy.com, went live in July 2011, and is aimed at the region’s student and youth population.

cashy is a first: never before have consumers in this part of the world had the ability to read relevant, unbiased, well-researched articles on all areas of personal finance in both English and Arabic. Our large library of articles, video content and community feel set cashy apart.

Campus Cashy is also ground-breaking. It is the first forum on which the region’s young people can come together to boost their financial know-how.

Our online communities offer people a forum on which we can empower each other, learning from each other’s money mistakes to better manage our money.

The sites are the brainchild of Nima Abu-Wardeh, a bilingual English Arabic journalist and presenter of the BBC World’s weekly business and finance programme, Middle East Business Report.

About Nima Abu-Wardeh

Nima is a bilingual English Arabic broadcast journalist specialising in Arab issues. She presents BBC World’s weekly business and finance programme, Middle East Business Report (MEBR) and was part of the team that set up the programme. She has also reported, produced and presented programmes for Al Jazeera and Dubai’s Business Channel. Before joining MEBR, Nima was a regular guest on BBC Radio 4’s Four Corners addressing Arab issues, and a guest on BBC World’s Dateline London as a regional expert.

Nima is regarded as an opinion leader and is approached by think-tanks, the corporate world and government organisations for her insight. She has written opinion pieces for Forbes Arabia and has taught media courses at Zayed University in the UAE as a visiting lecturer. Nima regularly chairs, and is a speaker at, regional and global gatherings, notably the World Economic Forum and the Arab Business Council meetings, as well as other events.

She is keen to encourage talent and the region’s youth and has helped create competitions that serve this purpose, such as the Scintilla Monaco poetry competition. Nima is also keen to promote Arab culture, identity and unity. She has been a member of the Arab Thought Foundation’s Advisory Committee as well as a board member of the World Congress for History Producers. Nima has received awards for excellence from regional businesses and communities. She won the first Oxford Alumni debate to be held in this region, in June 2009. Nima is a Young Arab Leader.

Media enquiries

For further details, or to arrange an interview, email UAESW@cashy.me.

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