The New Economy Academy has teamed up with Dubai Islamic to introduce a financial literacy program tailored for entrepreneurs and small business owners in the United Arab Emirates. This initiative is designed to enhance the financial management skills of participants, ultimately contributing to the growth and stability of the UAE's economy. By empowering entrepreneurs with practical knowledge, the program aims to foster a more competitive and resilient business environment.
The program will comprise two cohorts, with the objective of training more than 500 entrepreneurs. It will cover essential topics such as budget preparation, expense management, and cash flow optimization, as well as the application of artificial intelligence in financial analysis and reporting. Additionally, participants will gain insights into resource planning and investment strategies, equipping them with the necessary tools to navigate the complexities of the business world.
Program Structure and Objectives
The financial literacy program is structured around four key areas: financial planning, financial behaviours, the role of artificial intelligence in driving business growth, and investment strategies for future planning. By focusing on these critical aspects, the program seeks to bridge the knowledge gap and provide entrepreneurs with a comprehensive understanding of financial management. This, in turn, will enable them to make informed decisions and drive their businesses forward.
According to New Economy Academy CEO Laila Freidoon, the initiative will play a vital role in strengthening the competitiveness and resilience of small and medium-sized businesses in the UAE. By imparting modern financial and technological skills, the program will empower entrepreneurs to navigate the challenges of the contemporary business landscape. Similarly, Dubai Islamic's head of commercial banking, Saud Al Jassem, emphasized the bank's commitment to supporting initiatives that promote financial awareness and long-term stability among UAE businesses.
Alignment with National Strategy
The partnership between the New Economy Academy and Dubai Islamic is aligned with the UAE's National Financial Inclusion Strategy 2026-2030. This strategic alignment underscores the program's potential to contribute meaningfully to the country's economic development and financial inclusion goals. By working together, the two organizations aim to create a positive impact on the UAE's business ecosystem and promote a culture of financial literacy among entrepreneurs.
- Training over 500 entrepreneurs across two cohorts
- Covering topics such as financial planning, financial behaviours, and artificial intelligence for business growth
- Equipping participants with practical skills in budget preparation, expense management, and cash flow optimization
