The first phase of the 'Save and Invest' campaign, organised by the UAE Ministry of Social Affairs, has begun.

The campaign is supported by National Bonds Corporation (NBC), the Shari’a compliant national savings scheme of the UAE.

The drive is aimed at encouraging the concept of saving and investment among families, and also raise awareness among the youth on good spending habits, said a top official.

“The campaign is in line with the strategy of Sheikh Mohammad Bin Rashed Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, which is also supported by President His Highness Sheikh Khalifah Bin Zayed Al Nahyan, as part of according top priority to financial stability of the people in the UAE,” Abdullah Rashid Al Suwaidi, undersecretary of the Ministry of Social Affairs said.

 “We are always keen to take part in initiatives that encourage saving and right spending habits. The 'Save & Invest' campaign is a true reflection of the goals we advocate at National Bonds. It will contribute to promoting financial planning and saving within families,” said  NBC Vice Chairman and Chief Executive Officer Nasser Bin Hassan Al Shaikh.

Commenting on the campaign, Salah Al Halyan, a UAE financial expert, stressed the importance of financial planning and management.

He urged people to invest in solid and credible saving schemes such as National Bonds as it is Sharia’ah compliant in addition to offering monthly prizes and indicative annual returns.

Al Halyan pointed out that most of the financial problems faced by families are due to inflation, low income, lack of savings, debt, bad spending habits and lack of financial planning.

Setting goals, balancing monthly salaries and managing debts could help ease financial burden, he added. TradeArabia News Service