Sheikh Mohammed Visits New Economy Academy in Dubai

Photo: AP

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, visited the New Economy Academy on Monday. During his visit, he learned about the various educational programmes offered by the academy that aim to help Emirati citizens adapt to the fast-changing world of business, finance, and entrepreneurship.

He was joined by Sheikh Ahmed bin Mohammed bin Rashid Al Maktoum, Second Deputy Ruler of Dubai, and Mohammad Al Gergawi, Minister of Cabinet Affairs.

Sheikh Mohammed also attended part of a session from the ‘Family Financial Literacy Program – Dubai: How to Build Financial Stability for Your Family’. This programme is run by the Community Development Authority in partnership with the New Economy Academy. Sheikh Mohammed said, “Our goal is to ensure every Emirati family enjoys financial stability, strong family bonds, and is prepared for the future.”

Dr. Laila Faridoon, CEO of the New Economy Academy, presented the academy’s main programmes. These include courses on Financial Awareness, Entrepreneurship, Capital Markets, Real Estate, and Homebuilding, all designed to improve citizens' knowledge and skills in managing money and building businesses.

Sheikh Mohammed was also updated on the goals of the Family Financial Literacy Program, which is part of the larger Sheikha Hind Bint Maktoum Family Program. This initiative, led by Her Highness Sheikha Hind bint Maktoum bin Juma Al Maktoum (wife of Sheikh Mohammed), supports Emirati families in Dubai by giving them the tools and knowledge to build stable and happy homes.

So far, 175 Emirati families have completed this financial literacy training across three batches, with three more batches planned soon.

Hessa bint Essa Buhumaid, Director General of the Community Development Authority, said that the programme follows the vision of UAE leadership, focusing on family strength, financial education, and long-term stability. She confirmed that they will continue to work with partners like the New Economy Academy to provide more useful programmes for families at different stages of life.

The training also supports couples participating in the ‘Dubai Weddings’ initiative, which was started in January 2024 by the Community Development Authority under the guidance of Sheikha Hind. The initiative helps young Emirati couples by covering the cost of wedding celebrations and providing free venues like community halls and majlis areas.

As part of this, workshops and classes are provided by experts from the Community Development Authority, the New Economy Academy, the General Pension and Social Security Authority, and Al Etihad Credit Bureau.

These sessions help engaged couples and newlyweds learn how to manage their money smartly, avoid unnecessary debt, save for the future, and build a secure and happy family life.