Latest news with #NewEconomyAcademy
Zawya
4 days ago
- Business
- Zawya
MBRHE continues implementation of 'How to Build Your Home' program until end of 2025
Dubai, United Arab Emirates – The Mohammed Bin Rashid Housing Establishment (MBRHE) has marked a new milestone in its efforts to empower Emirati citizens in their homebuilding journey by graduating a new batch of participants from the 'How to Build Your Home' program. The initiative aims to enhance customer awareness and enable them to make informed and strategic decisions throughout every stage of the housing construction process. Delivered in collaboration with the New Economy Academy, the program is a comprehensive educational initiative designed to address the needs of housing service beneficiaries. It focuses on four key pillars—legal, engineering, financial, and technological—covering essential topics such as customer rights and responsibilities, consultant and contractor selection, contracting phases, effective cost management, and exposure to the latest sustainable construction practices and technologies. Launched in early 2025 as part of MBRHE's 'Community Year' initiatives, the program supports citizens through all stages of their housing journey—from initial planning, through design and construction, to handover and occupancy. This reflects the organization's vision to provide leading and sustainable housing services that ensure quality and enhance family stability in the UAE. Commenting on the initiative, His Excellency Mohammed Hassan Al Shehhi, Acting CEO, stated: 'The 'How to Build Your Home' program is a strategic step toward supporting citizens on their path to home ownership in a thoughtful and sustainable way. At MBRHE, we are committed to being true partners throughout this journey by offering specialized training that addresses the essential elements of building a complete home that meets the aspirations of Emirati families, while promoting a culture of quality and accountability in execution.' The program features interactive workshops and practical modules that highlight best practices in residential construction and encourage participants to benefit from local expertise and real-life case studies. It also includes the distribution of a comprehensive digital handbook titled 'How to Build Your Home,' developed by MBRHE's engineers and specialists, as a practical reference covering every stage from planning to maintenance. MBRHE has confirmed that the program will continue to accept new participant batches until the end of 2025, following an approved schedule to ensure that the greatest number of eligible citizens benefit from this important awareness initiative. For more information about the program and other awareness initiatives, please visit: About Mohammed Bin Rashid Housing Establishment: MBRHE is a government entity dedicated to delivering proactive and sustainable housing services to citizens through flexible policies, strategic partnerships, and a commitment to innovation and digital transformation, in alignment with Dubai's future vision. Media Contact: Khalid Mohammed Al Bannai Head of Communications Mohammed Bin Rashid Housing Establishment Email: kalbannai@ or Ghada Yousif Abdulla Communications Specialist Mohammed Bin Rashid Housing Establishment Email: gabdulla@
Gulf News
29-04-2025
- Business
- Gulf News
What's the key to building wealth?
Imagine waking up one morning to find your bank account drained—not by fraud, but by your own decisions. Credit card interest, impulsive investments, an ill-advised loan, or even a paycheck that barely stretches to cover the basics. This isn't some dystopian horror story; it's the daily reality for millions worldwide. Financial illiteracy isn't just an inconvenience—it's an epidemic. According to Standard & Poor's, only 33 per cent of adults globally are financially literate. That means two-thirds of the world is navigating a financial jungle without a map, making choices that could lead to ruin rather than security. And when an emergency strikes? Nearly half of millennials have less than $1,000 (Dh3,670) saved. The consequences of poor financial decisions aren't just individual—they ripple across economies, fuelling debt crises, widening wealth gaps, and fostering generations trapped in financial struggle. But just when it seems bleak, the plot takes a twist. Enter fintech. Why the digital revolution needs guardrails Technology has changed everything. Just as GPS replaced paper maps, smartphone apps have transformed how we manage money. Today, a stock trade is as effortless as ordering coffee. Investment apps boast a staggering 117 million users in 2023, and in the UAE, trading activity surged 75 per cent year-on-year, outpacing markets like Spain and Singapore. But here's the kicker—accessibility without understanding is a recipe for disaster. The same apps that democratise investing also open doors to reckless speculation. We've all seen the stories—traders betting big on meme stocks, crypto bubbles bursting overnight, life savings lost in minutes. Without financial education, these tools become weapons of self-destruction. The hard truth? Most people lack even the most rudimentary financial skills. A global survey by Standard & Poor's tested four basic principles: inflation, risk diversification, numeracy, and compound interest. To be considered financially literate, respondents needed to answer just three of the four correctly. Only one-third of adults worldwide passed. In the UAE, the results were slightly better at 38 per cent, but still lag behind financial powerhouses like the US and Japan, where over half of adults have a solid grasp of money management. And yet, we expect people to make intelligent financial choices—buy a house, invest wisely, prepare for retirement—without ever teaching them how. But if we flip the script, financial literacy becomes one of the most powerful drivers of stability, growth, and prosperity. This is why governments and businesses need to step in. In the UAE, initiatives like the New Economy Academy and Ghaya programme are equipping people with the skills to manage their money intelligently. The New Economy Academy, a governmental entity under the UAE Prime Minister's Office, is a leading training and educational centre dedicated to financial literacy and is now nurturing a new generation of financially savvy Emiratis. The Ghaya programme, which is supported by ADGM Academy and the London Institute of Banking Finance, has been working with citizens across Abu Dhabi since 2020. In addition, National Bonds has partnered with education specialists Taaleem to introduce financial literacy concepts to students in its 12 schools. The Kids Finance Initiative has also been developing programmes for schools, universities and private businesses. Schools are integrating financial education into curriculums, and investment-trading platforms such as are embedding educational tools directly into their trading platforms. Because knowledge isn't just power—it's also profit. At we are already seeing a gradual evolution in trading behaviour across regions. As traders begin to understand longer-term macroeconomic trends and market drivers, there has been a shift away from speculative assets such as alt-coins and so-called meme stocks towards traditional commodities and index trackers. To support this evolution further, we provide a comprehensive suite of educational resources designed to help users at every level of their financial journey. Our platform provides educational resources and tools, including demo accounts and AI-driven insights, to help users make informed investment decisions and develop confidence. Financial literacy is not optional If you take nothing else from this, remember: financial literacy is not optional. It's the difference between thriving and barely surviving. Between building wealth and drowning in debt. Between taking control of your future and becoming another statistic. As we continue to support informed investing and trading, as well as build a new generation of empowered retail investors, we will see more individuals able to contribute to the UAE's collective prosperity. By fostering financial literacy, we're not just creating better investors and savers—we're building a future where more people can achieve financial independence and long-term stability. The journey to financial empowerment starts with knowledge— we have to make sure no one has to navigate it alone.
Khaleej Times
15-04-2025
- Business
- Khaleej Times
UAE: New training initiative to teach citizens how to build homes efficiently, sustainably
A new training initiative called 'How to Build Your Home?' was launched on Tuesday by the Mohammed Bin Rashid Housing Establishment (MBRHE) in collaboration with the New Economy Academy. The programme is designed to empower young Emirati citizens — particularly those preparing for marriage by equipping them with essential knowledge on planning and constructing their homes efficiently and sustainably. Dr Laila Faridoon, CEO of the New Economy Academy, told Khaleej Times, 'The integrated training programme is designed to equip young Emiratis within the Mohammed Bin Rashid Housing Establishment with the skills to plan and construct their homes efficiently and sustainably — focusing on budget management, optimal financial resource utilisation, and avoiding common construction pitfalls.' The programme will run for three days starting Tuesday. It will offer participants in-depth guidance and practical knowledge to support them throughout their homebuilding journey. Stay up to date with the latest news. Follow KT on WhatsApp Channels. During the launch, Omar Bushahab, CEO of MBRHE, explained that the training targets 300 Emiratis preparing to build their own homes. 'The programme offers a well-rounded experience with input from leading experts across government and private sectors, including the Community Development Authority, Dubai Municipality, the Federal Tax Authority, and e& UAE.' Key aspects Participants will gain access to a comprehensive guide detailing housing services, construction guidelines, smart systems, and sustainable home management practices. The sessions will also cover key aspects such as estimating construction costs, setting a suitable budget, choosing appropriate home dimensions, and aligning home design with the family's needs and financial resources. Additionally, attendees will be introduced to the differences between building a new home and purchasing a ready-built one, along with an overview of available financing options. Tax literacy Khalid Al Bustani, Director-General of the Federal Tax Authority, emphasized the importance of tax literacy. 'Participants must keep all invoices for residential payments to reclaim VAT on housing-related expenses,' he noted. According to Wam, applicants must meet three core requirements to be eligible for VAT reimbursement: they must be UAE citizens, the expenses must relate to a newly built home intended for personal or family use, and the costs must be linked to specific services and construction materials provided by contractors. Applications must be submitted within six months of the home's completion. National initiatives This initiative aligns with the 'Year of Community announced by the UAE President. It also falls under the 'Sheikha Hind bint Maktoum Family Programme,' launched by Sheikha Hind bint Maktoum bin Juma Al Maktoum. The programme aims to reinforce Emirati values and strengthen family stability, fundamental to social cohesion and national development. MBRHE has assembled a specialised team of experienced engineers and supervisors to create a comprehensive guidebook titled 'How to Build Your Home'. This book is designed to support citizens at every stage of the home construction process and is available for download on their website.
