This Children’s Book Will Teach Your Kids to Save Money

In today’s fast paced world, it has become imperative for children to absorb skills that can help them grow into confident and self-reliant young adults. While most parents and educational organizations focus on instilling essential life and social skills into their children, a skill that is often overlooked despite its overwhelming importance is the money skill. This is the faculty that authors Khadijah Kudsi and Sarah Mavrinac hope to foster and encourage in the children of UAE with their children’s educational book, ‘UAE Old and New Money’.

Published in English, by The University Bookshop, Abu Dhabi the book aims to increase financial literacy among the UAE’s young people. The compilation offers attractive and entertaining insights into the value of saving. The recommendations build on ideas and teachings, previously explored and expounded by the authors during a series of intensive workshops conducted by them for school children throughout the UAE. 

Kudsi and Mavrinac’s efforts to teach children about the value of saving and the importance of working to earn money has been recognized by National Bonds Corporation (National Bonds), the leading sharia-compliant savings and investments company in the UAE. 

The authors were honored during a special meeting attended by Mohammed Qasim Al-Ali, CEO of National Bonds, at the company headquarters. The meeting discussed the possibilities of organizing future events that promote a responsible saving culture among future generations, in line with National Bonds’ vision of instilling regular saving habits in UAE society.

Speaking on the occasion, Al-Ali said: “Our vision to strengthen the culture of saving in the UAE is reflected in the initiatives of our esteemed authors that have benefited school children in the UAE. As they are both mothers living in the country, our local culture has clearly inspired the book’s contents. Mothers and women in general have a significant role to play in raising an informed and educated generation that carefully plans for its financial future and contributes to the preservation and growth of the country’s resources.” 

Al-Ali stressed the importance of encouraging children to adopt a saving habit from an early stage in order to prepare them to assume financial responsibility and secure their future. He also pointed out the necessity of using various tools and methods to help develop the financial planning capabilities of emerging generations. 

“We welcome the opportunity to cooperate with the authors and discuss ideas for launching new joint initiatives to enhance the culture of saving and financial management practices across all sections of society. Such activities will improve financial planning behaviours of our community members and help them build a future that is void of any debts or financial burdens,” added Al-Ali. 

Commenting on the recognition, Khadijah Kudsi and Sarah Mavrinac said: “We are delighted that the publication of our book, ‘UAE Old and New Money’, has allowed us to work more closely with pioneering organizations like National Bonds in nurturing the financial health and awareness of our children in the UAE. The creation of this book truly was a labor of love. 

“We passionately believe that money skill is an essential life skill that all children must develop if they are to successfully navigate our complex, modern world. When our children develop awareness and confidence in money management, they strengthen their confidence in themselves and in their futures. Having developed such self-confidence, their lives will be richer and happier. There is no doubt that with a strong sense of financial awareness and responsibility, the future of each child, and indeed the future of our entire UAE community is that much brighter.” 

This distinction accorded to the authors by National Bonds also reflects the company’s support of UAE President His Highness Sheikh Khalifa bin Zayed Al Nahyan’s decision to earmark 2016 as the Year of Reading. This is an initiative that aims to encourage the younger generation to read and develop their knowledge, enhance their critical thinking and their ability to distinguish between right and wrong, thus enabling them to make the right decisions for the future.

National Bonds offers UAE citizens, residents and non-residents the first Sharia-compliant saving program. Parents and guardians can also buy sukuk for their children or minors. Each sukuk is priced at AED10, with an AED100 minimum limit for sukuk purchases.