NCB Capital, a top wealth management services firm in the GCC and Saudi Arabia’s largest asset manager, has sponsored a new fully equipped lab at Effat University in Jeddah in a move to spread financial literacy among Saudi youth.

The lab comprises 25 computer machines and includes hardware and software utilising the latest technologies which help students to monitor financial markets and train them on making sound investments.

Sarah Al-Suhaimi, CEO of NCB Capital, said: “The education sector is a key part of NCB Capital’s corporate social responsibility activities, and by sponsoring this initiative, we aim to forge a collaborative relationship with Effat University in order to support a high level of financial knowledge among the students, and to also introduce them to the world of investment.”

“This initiative is all the more important since an increasing number of employment opportunities are opening up to women, enabling them to play their part in the Kingdom’s social and economic development, and the new lab will enhance the capabilities of the university’s students to understand and effectively participate in capital markets” she added.

Dr Haifa Reda Jamal Al Lail, president of Effat University, said: “Creating savings awareness and developing money management capabilities are of vital importance for young people and we thank NCB Capital for sponsoring this lab, which will be invaluable in helping our students to learn investment skills and start out on life equipped with the knowledge to build a financially secure and prosperous future.” – TradeArabia News Service