Riyali Financial Literacy Program Aims Towards Happier & More Stable Individuals and Community

The Riyali Financial Literacy Program, developed by SEDCO Holding Group, endeavors to continuously achieve a high standard of success in financial literacy and enrich the students’ financial literacy skills. Since its launch in 2012, the program aspires to raise the society’s awareness about financial issues and to change their resolve towards it in order to develop the society economically and socially. 

Vice President of Marketing and Corporate Responsibility at SEDCO Holding Group, Amr Banaja stated: “The program seeks to improve the happiness, the quality of life and health of its beneficiaries. In hopes of insuring the success of the program and achieving its objectives, we have identified through comparative surveys the extent of change in behavior and skills related to financial awareness.”

He also added: “From the results of the program, we can conclude that it reflects positively in changing students’ perspective and attitude. Studies have shown that the effectiveness and the impact on attitude and behavior could reach 72%. The study was based on the skills and attitudes pertaining to saving, budgeting, borrowing and investment. It was shown that the program’s graduates have 32% better understanding and awareness in their spending than those who did not undergo the training. As for their attitude and their behavior, the program’s graduates had 53% better budgeting and financial planning skills. The scientific evidence of the research proves that the program can have a strong impact on understanding and awareness. It can reach up to 72% in terms of attitude towards investment and 50% towards saving.”

The Riyali Financial Literacy Program has so far been implemented in 22 cities, with over 100,000 beneficiaries and 1,150 ambassadors who contributed to the training sessions. The results and findings of the nurtured skills by Riyali showed great progress among the graduates with regards to the importance of savings, reducing the dependency on borrowing, the toned to grow investment opportunities, and an overall well rounded awareness towards managing money. The study consisted of 60% girls and 40% of boys aged between 18 and 23.