Saudi Arabia launches initiative to financially empower children

Abu Dhabi: Saudi Central Bank has launched the Malee (Arabic for ‘my money’) application to promote financial awareness and empowerment of children.

The aim is to prepare a financially educated generation, aware of the importance of money, and the need to preserve it, local media reported.

The application targets children aged 8 to 12 years, to provide them with the necessary skills to properly manage their finances, with a focus on the right knowledge and trends related to financial culture.

It will also clarify economic concepts by identifying sources of income and money exchange, prioritising expenditures, identifying the concept of planning and purchasing, and the importance of saving by simulating the reality of children and the situations they are exposed to in their daily lives.

For more information to visit www.malee.sa.