Media-Center

Abu Dhabi, 06 March 2018: UAE Exchange, a leading global money transfer, foreign exchange and payment solutions brand, has partnered with Emirates Foundation, an independent philanthropic organization set up by the Abu Dhabi government to facilitate public-private funded initiatives that improve the welfare of youth.

The partnership will see UAE Exchange support the overall programme portfolio of Emirates Foundation which aims to improve the welfare of the youth across the UAE and create a positive social impact for a sustainable future.

An agreement was recently signed by Promoth Manghat, Chief Executive Officer of UAE Exchange Group, and Maytha Al Habsi, Chief Executive Officer of Emirates Foundation.

CEO’s agreement signing ceremony

UAE Exchange Group CEO Promoth Manghat and Emirates Foundation CEO Maytha Al Habsi during the agreement signing ceremony.

CEO’s exchanging the agreement

UAE Exchange Group CEO Promoth Manghat and Emirates Foundation CEO Maytha Al Habsi exchanging agreement during the signing ceremony.

Commenting on this collaboration, Promoth Manghat, CEO, UAE Exchange Group, said, "In today's fast-paced world, the youth are seen as gamechangers that influence as well as lead national development and transformational disruptions in the new economy. This underlying understanding helps us in our efforts to empower the local youth through various owned and partnered engagement activities. Our partnership with Emirates Foundation fits aptly with our common belief in the promise of the youth and reinforces our commitment to the National Agenda as outlined in UAE Vision 2021 and UAE Centennial 2071.">

"As a reverence to the late His Highness Sheikh Zayed Bin Sultan Al Nahyan, the founding father of the UAE (may God rest his soul in peace), and to commemorate his 100th birth year, “Year of Zayed”, we have also taken the initiative to impart and promote his values among the youth, especially Emiratis, and contribute to their empowerment and sustainable development in all fields. In line with our sustainability programmes, we look forward to bringing our industry expertise, mentorship capabilities and internship opportunities to augment skill development and social inclusion of the youth in the UAE through four key initiatives facilitated by Emirates Foundation," added Promoth.

The Emirates Foundation’s CEO Maytha Al Habsi said: "Our partnership with UAE Exchange Group is a critical part of our model of Youth Development which is about solving social problems systemically and at scale. This requires more than just funding. By partnering with the private sector, we get access to technical input and also provide opportunities for employee engagement allowing us to connect our youth directly to the market. We look forward to working with UAE Exchange and engaging their teams in our programs – only collectively can we achieve our goal of creating a positive and permanent impact on the lives of young people in the UAE."

UAE Exchange, along with Emirates Foundation, aims to promote the idea of leadership and entrepreneurship among young Emiratis through four key programmes, focused on Corporate Experience, Talent Recognition, Science and Fintech and Financial Literacy.

The four key programmes are:

(1) Takatof volunteering programme aims to engage youth with their community, build their confidence and reveal a sense of purpose disconnected from paid employment through fostering a culture of volunteering and giving back to the community. As a corporate mentor, UAE Exchange would use the capabilities of Takatof volunteers to organise their corporate mentorship programmes with lead incubators (like ADGM, DIFC Fintech Hive, DTEC, StartAD NYU) across Dubai and Abu Dhabi.

(2) Kafa’at programme is a key contributor to the growth and development of the UAE economy through the cultivation of an Entrepreneurship culture and empowering UAE youth to enter the private sectors. The Emiratisation team at UAE Exchange will provide internship opportunities to the Kafaat pool of interns across its offices in the seven emirates.

(3) Esref Sah programme helps youth navigate the complexities of the financial world, educates them on how to save, manage their personal finance and avoid high levels of indebtedness. The programme focuses on financial inclusion, youth empowerment and impact-driven interventions to enable youth to achieve maintain healthy and debt-free finances. UAE Exchange will contribute in identifying case studies that can be included in the curriculum for schools/colleges as well as conduct workshops on financial literacy.

(4) Think Science programme responds to market needs and encourages Emirati youth to choose STEM (Science, Technology, Engineering and Math) as an academic and professional path to help build a sustainable knowledge-based economy. UAE Exchange, as a mentor, will provide guidance and encourage Emirati youth interested in Fintech Innovation.

UAE Exchange has been continuously working towards the development and scaling of relevant skills within the Emirati community, and has received various accolades from the UAE government for its Emiratisation efforts. Most recently, UAE Exchange received the UAE SDG (Sustainable Development Goals) Pioneer Award under the Prosperity category, conferred by the United Nations Global Compact UAE Local Network.