Latest news with #SheikhMohammedbinRashidAlMaktoum
Arabian Business
3 days ago
- Business
- Arabian Business
Dubai expands financial literacy drive to 75,000 students with young investor program
Dubai is educating students in the importance of financial literacy and monetary principles such as budgeting and saving. In a major step towards creating a financially savvy generation, the Knowledge Fund Establishment (KFE), in collaboration with National Bonds Corporation (NBC), has launched a new phase of the Young Investor Program—an initiative aimed at enhancing financial literacy among school students in Dubai. The latest rollout will reach more than 75,000 students across 50 private schools, marking a significant expansion of the pioneering programme. Young investors in Dubai The initiative, the first of its kind in the region, introduces young learners to core financial principles such as saving, budgeting, and long-term planning through interactive and engaging content tailored to school curricula. Aligned with the vision of Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai to build a knowledge-based economy, the Young Investor Program supports both Dubai's Education Strategy 2033 and the Dubai Social Agenda 33. The initiative reflects the city's broader ambition to become a global hub for education, innovation, and sustainable development. Abdulla Mohammed Al Awar, CEO of the Knowledge Fund Establishment, said: 'The Young Investor Program reflects our strategic focus on advancing quality education and supporting initiatives that equip students with essential life skills, particularly in financial literacy. 'We believe that investing in our children's education is an investment in Dubai's future, and we take pride in the leading role KFE plays in fostering innovative partnerships between the public and private sectors to realise this vision.' Mohammed Qasim Al Ali, Group Chief Executive Officer of National Bonds Corporation, said: 'We are proud of our partnership with KFE in implementing this unique programme, which reflects our commitment to building a financially aware generation capable of making informed decisions. 'Early financial education is fundamental to creating a stable and prosperous economy over time. Given the rapid pace of technological advancement in students' lives, we believe it is essential to equip them with the financial skills they need both during their education and in their future careers, so they are well prepared for a world that requires awareness, adaptability and smart decision-making.' With this expansion, KFE continues to lead efforts in integrating financial literacy into education, reinforcing the UAE's commitment to nurturing future-ready talent and supporting long-term economic stability through youth empowerment.
Khaleej Times
4 days ago
- Business
- Khaleej Times
Dubai: Sheikh Mohammed announces 10-day paid marriage leave for govt employees
Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, issued a decree on Wednesday, July 16, regarding marriage leave for Dubai government employees who are UAE nationals. According to the regulations stipulated in this decree Decree No. (31) of 2025, an employee is entitled to a fully paid marriage leave of 10 working days. The decree also allows the employee to combine marriage leave with any other leave they are entitled to under the legislation regulating human resources affairs in force at their employer. The decree specifies the conditions for granting marriage leave, which are that the employee's husband or wife must be a citizen of the UAE, and that the employee has successfully completed the prescribed probationary period in accordance with the legislation regulating human resources affairs applicable to their employer, or as determined by the employer in this regard. Furthermore, the marriage contract must be certified by the competent authority in the country and concluded after December 31, 2024. A copy of the marriage contract must be submitted only once when applying for marriage leave. Full gross salary During the marriage leave period, an employee is entitled to their full gross salary, including allowances and financial benefits stipulated under the applicable human resources legislation in force at their employer. They may also use their marriage leave at any time, whether continuous or intermittent, within one year of the marriage contract. The government entity may approve the transfer of marriage leave, or any part thereof, to the following year, based on serious reasons provided by the employee and with the approval of their direct supervisor. The decree stipulates that a government entity may not call up an employee during marriage leave, with the exception of military personnel if work requires it. The remaining period of marriage leave shall be extended beyond the end of the call-up period. If an employee is called up during marriage leave to perform national or reserve service, or if they are unable to use their marriage leave for the same reason, the marriage leave, or any remaining days thereof, shall be transferred until after the employee completes their national or reserve service. The marriage leave or any remaining days thereof shall be used within one year of their return to work. If an employee is transferred or appointed to another government entity, they retain the right to their marriage leave, or any unused portion of it, if they did not take it during their tenure with the previous government entity." The decree applies to UAE national employees working in government entities and within the authorities supervising special development zones and free zones, including the Dubai International Financial Centre. It also applies to UAE national members of the judiciary and UAE military personnel in the emirate, with the exception of candidates. The scope of the decree also extends to any other category determined by a decision issued by His Highness the Chairman of the Executive Council of Dubai in this regard. The Chairman of the Executive Council of Dubai shall issue the necessary decisions to implement the provisions of this Decree. Any provision in any other legislation is hereby repealed to the extent that it conflicts with its provisions. This Decree shall be effective from January 1, 2025, and shall be published in the Official Gazette.
Zawya
4 days ago
- Business
- Zawya
UAE: MoF launches 2027–2029 budget cycle
The Ministry of Finance has launched the federal general budget cycle for the 2027–2029 period, marking a new step in the continuous development of the government's financial system. The move aims to enhance fiscal sustainability and aligns with the wise leadership's vision for a more flexible and innovative future. This new cycle reflects the evolution of the general budget from a yearly planning tool into a strategic instrument that empowers federal entities to achieve their objectives efficiently and effectively. The launch coincided with the unveiling of the federal government's new strategic planning cycle, 'Towards Achieving We the UAE 2031', by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai. The announcement reflects the government's commitment to integrating efforts and enhancing coordination to achieve the nation's future goals. H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister, and Minister of Finance, stressed that the 2027–2029 federal budget cycle will play a key role in the development of the UAE's public financial system and is part of a government approach driven by proactivity, flexibility, and policy integration. He noted that the Ministry of Finance is committed to redefining the role of the budget from a traditional resource allocation framework to a strategic enabler for mega national objectives. These include strengthening global competitiveness, accelerating digital transformation, and reinforcing the UAE's position as a leading international financial hub. 'Achieving the ambitions of the UAE Centennial 2071 requires a financial system that is agile and future-focused, a system that can respond to global shifts and direct government spending toward high-impact opportunities,' H.H. Sheikh Maktoum bin Mohammed said. 'To that end, the MoF is investing in smart tools and advanced analytical models that ensure financial efficiency, optimise impact, and enable data-driven decision-making aligned with the nation's developmental, economic, and social goals. Our vision is to transform the federal budget into a future-ready instrument that drives sustainable growth and elevates the quality of government services to new heights,' he added. Ambitious national priorities The newly launched budget cycle follows four consecutive strategic cycles during which the total federal budget reached approximately AED900 billion, aligned with ambitious national priorities. Over this period, the Ministry laid strong foundations for sound financial governance by enhancing legislative and regulatory frameworks, expanding international partnerships, and developing advanced digital financial systems. It also maintained stable public debt levels, which stood at just AED62.1 billion as of June 2025, and increased federal government assets to around AED464.4 billion by the end of 2024, underscoring the UAE's solid financial position. The new budget cycle focuses on sectors that directly impact the lives of citizens and residents, including education, healthcare, social welfare, and core government services. It reflects a renewed vision to empower federal entities to deliver high-quality, efficient, and flexible services. Investing in these vital areas is key to stimulating sustainable national development and achieving the long-term objectives of the UAE Centennial 2071. The new cycle also aligns with evolving societal aspirations by allocating resources for maximum developmental, social, and economic impact, supported by digital tools and artificial intelligence to improve planning accuracy, execution speed, and service quality. Improving institutional efficiency Meanwhile, Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs, emphasised that the 2027–2029 budget cycle builds on a solid foundation of fiscal accomplishments and reflects a forward-looking vision focused on empowering government entities and aligning strategy with performance indicators. He noted that the cycle integrates artificial intelligence as a key enabler of sustainable development and aims to transform the federal budget from a traditional financial tool into a flexible, strategic instrument that enhances operational efficiency, improves government performance, and supports the objectives of the UAE Centennial 2071. Al Hussaini added, 'The Ministry's transformation over recent years extends beyond legislative and digital reforms to include a complete redesign of the budgeting experience. The number of budget preparation steps was reduced from 50 to just 10, and procurement cycles were shortened from 60 days to under six minutes, a leap forward in institutional efficiency and performance acceleration. Today, the Ministry of Finance is no longer merely a supervisory authority but a key enabler, driving the readiness of federal entities and empowering them to fulfil their mandates effectively and innovatively within an integrated digital framework that prioritises customer satisfaction and service quality.' The new federal budget cycle for 2027–2029 represents a significant leap towards smart financial management, underpinned by modern tools and proactive methodologies. Built on the pillars of performance-based planning and results-driven execution, this model harnesses artificial intelligence to strengthen decision-making and maximise the accuracy of resource allocation. Today, financial planning goes beyond numerical forecasting; it is a smart system capable of generating predictive scenarios. From accelerating service delivery to streamlining operations and providing entities with access to unified, high-accuracy data, the system represents a major step forward, significantly improving the speed and quality of financial decision-making. Through this approach, the federal budget is redefined as a strategic enabler, driving operational efficiency, reinforcing financial sustainability, and solidifying the UAE's global standing as a model for advanced public financial management.
