The General Pension and Social Security Authority (GPSSA) and the Abu Dhabi Global Market Academy (ADGMA) have signed a Memorandum of Understanding (MoU) to enhance financial literacy among insured Emiratis and promote proactive financial planning for a secure and sustainable lifestyle.
Under the agreement, ADGMA will offer financial planning advice to GPSSA stakeholders, focusing on optimizing investment opportunities and asset management in line with GPSSA's financial planning regulations.
Faras Al Ramahi, GPSSA's Director-General, highlighted that the MoU aligns with national efforts to boost financial awareness among Emiratis across federal, government, and private sectors. He emphasized that this agreement underscores the authority's commitment to advancing financial literacy, which is essential for maintaining global competitiveness and empowering the workforce with crucial skills in a rapidly evolving information landscape.
Hamad Sayah Al Mazrouei, Chairman of the ADGMA Board of Directors, commented,
Signing this strategic agreement represents national efforts by government authorities to implement enhanced social protection schemes for Emiratis by encouraging insured employees to learn more about high-level insurance schemes provided by the GPSSA.
He added that ADGMA plans to provide training programmes that strengthen the knowledge and skills of Emirati employees in the fields of finance, business, banking, and investments to build a financially secure knowledge-based economy.
The MoU aims to foster a culture of financial literacy, enabling Emiratis to make informed decisions about their financial futures. Through this collaboration, GPSSA and ADGMA will develop educational initiatives and resources that support Emiratis in achieving financial security and sustainability.
This partnership is a significant step towards empowering the Emirati workforce, equipping them with the necessary tools and knowledge to navigate the complexities of the financial world. By enhancing financial literacy, the initiative aims to create a more informed and financially resilient community, ultimately contributing to the nation's economic stability and growth.
In conclusion, the GPSSA and ADGMA's collaborative efforts reflect a shared commitment to enhancing the financial well-being of Emiratis, ensuring they are well-prepared to face future financial challenges and opportunities.
News Source: Emirates News Agency
