Abu Dhabi Islamic Bank (ADIB), the second-largest Sharia-compliant lender in the UAE, has launched a children's savings account as part of its long-term strategy to help customers learn smart money management skills.
The lender's financial literacy campaign was launched in April with the release of Smart money, a financial booklet that covers topics such as how to budget, manage debt and investments, understand risks and help to create personal wealth.
The Banoon Children's Savings Account is the next step in ADIB's campaign and it hopes it will serve as a foundation for parents to teach their children the importance of saving and managing money.
"We are supporting the parents in two angles," says Maryam Talib Ahmed, the head of new product development at ADIB. "Number one is to plan for their children's future and also help them to raise the savings habit in their kids from a young age."
Banoon, which is Arabic for boys and girls, offers a range of features, including the Darhoom prepaid card, which can automatically be topped up from parents' accounts. New account holders receive a welcome pack that includes a financial literacy activity book, a story book that features the Darhoom mascot and a money box, also in the Darhoom character, to help them with their savings.
The bank also donates Dh100 to the Red Crescent Scholars Assistance programme on behalf of your child, and parents can opt to take out ADIB's Education Takaful (insurance) of up to Dh100,000.
"This card has lots of features to make sure the parent who applies for it is confident," Ms Ahmed says. "They are able to monitor the transactions and receive an instant SMS on all transactions.
"We should be talking to children and telling them why they should save. And how they can benefit from the dirham itself. The dirham can open lots of doors for them."
For more information, go to www.adib.ae.
***
The first-ever insurance comparison website allowing consumers to click and buy their new policy has launched in the UAE.
InsureMe.ae offers consumers the chance to compare and choose the best insurance cover for their needs and have the policy of their choice delivered straight to their home.
The comparison process, which takes less than a minute to highlight the best product, includes options for car, home contents, travel and medical insurance.
Online insurance comparison is a popular concept in more developed markets around the world where consumers prefer independent assessments of the different products available rather than relying on the traditional approach of consulting an insurance broker for advice.
"If you look at the USA and Western Europe, personal insurance is almost entirely an online product," says Vala Setareh, executive director of NetInsure Limited. "We do all the hard work, read all the fine print and deliver an objective solution on a silver platter. All the client needs to do is to click and buy his or her favourite choice online."
InsureMe.ae is the first and only website of its kind in the region.
pf@thenational.ae
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If you go
Where to stay: Courtyard by Marriott Titusville Kennedy Space Centre has unparalleled views of the Indian River. Alligators can be spotted from hotel room balconies, as can several rocket launch sites. The hotel also boasts cool space-themed decor.
When to go: Florida is best experienced during the winter months, from November to May, before the humidity kicks in.
How to get there: Emirates currently flies from Dubai to Orlando five times a week.
Company%20profile
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Directors: Min Geun, Oh Yoon-Dong
Rating: 3/5
COMPANY%20PROFILE
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What is dialysis?
Dialysis is a way of cleaning your blood when your kidneys fail and can no longer do the job.
It gets rid of your body's wastes, extra salt and water, and helps to control your blood pressure. The main cause of kidney failure is diabetes and hypertension.
There are two kinds of dialysis — haemodialysis and peritoneal.
In haemodialysis, blood is pumped out of your body to an artificial kidney machine that filter your blood and returns it to your body by tubes.
In peritoneal dialysis, the inside lining of your own belly acts as a natural filter. Wastes are taken out by means of a cleansing fluid which is washed in and out of your belly in cycles.
It isn’t an option for everyone but if eligible, can be done at home by the patient or caregiver. This, as opposed to home haemodialysis, is covered by insurance in the UAE.
Greatest of All Time
Starring: Vijay, Sneha, Prashanth, Prabhu Deva, Mohan
How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
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Director: Shankar
Stars: Ram Charan, Kiara Advani, Anjali, S J Suryah, Jayaram
Rating: 2/5
Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
Round 3: February 7-9, Dubai Autodrome – Dubai
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
The Bio
Name: Lynn Davison
Profession: History teacher at Al Yasmina Academy, Abu Dhabi
Children: She has one son, Casey, 28
Hometown: Pontefract, West Yorkshire in the UK
Favourite book: The Alchemist by Paulo Coelho
Favourite Author: CJ Sansom
Favourite holiday destination: Bali
Favourite food: A Sunday roast
Match info
Uefa Champions League Group H
Juventus v Valencia, Tuesday, midnight (UAE)
COMPANY PROFILE
Name: HyperSpace
Started: 2020
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
Based: Dubai, UAE
Sector: Entertainment
Number of staff: 210
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
How to avoid crypto fraud
- Use unique usernames and passwords while enabling multi-factor authentication.
- Use an offline private key, a physical device that requires manual activation, whenever you access your wallet.
- Avoid suspicious social media ads promoting fraudulent schemes.
- Only invest in crypto projects that you fully understand.
- Critically assess whether a project’s promises or returns seem too good to be true.
- Only use reputable platforms that have a track record of strong regulatory compliance.
- Store funds in hardware wallets as opposed to online exchanges.
MATCH INFO
Chelsea 1 (Hudson-Odoi 90 1')
Manchester City 3 (Gundogan 18', Foden 21', De Bruyne 34')
Man of the match: Ilkay Gundogan (Man City)
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Haemoglobin disorders explained
Thalassaemia is part of a family of genetic conditions affecting the blood known as haemoglobin disorders.
Haemoglobin is a substance in the red blood cells that carries oxygen and a lack of it triggers anemia, leaving patients very weak, short of breath and pale.
The most severe type of the condition is typically inherited when both parents are carriers. Those patients often require regular blood transfusions - about 450 of the UAE's 2,000 thalassaemia patients - though frequent transfusions can lead to too much iron in the body and heart and liver problems.
The condition mainly affects people of Mediterranean, South Asian, South-East Asian and Middle Eastern origin. Saudi Arabia recorded 45,892 cases of carriers between 2004 and 2014.
A World Health Organisation study estimated that globally there are at least 950,000 'new carrier couples' every year and annually there are 1.33 million at-risk pregnancies.
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Founded in 1985 by Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, the Central Veterinary Research Laboratory (CVRL) is a government diagnostic centre that provides testing and research facilities to the UAE and neighbouring countries.
One of its main goals is to provide permanent treatment solutions for veterinary related diseases.
The taxidermy centre was established 12 years ago and is headed by Dr Ulrich Wernery.
Visit Abu Dhabi culinary team's top Emirati restaurants in Abu Dhabi
Yadoo’s House Restaurant & Cafe
For the karak and Yoodo's house platter with includes eggs, balaleet, khamir and chebab bread.
Golden Dallah
For the cappuccino, luqaimat and aseeda.
Al Mrzab Restaurant
For the shrimp murabian and Kuwaiti options including Kuwaiti machboos with kebab and spicy sauce.
Al Derwaza
For the fish hubul, regag bread, biryani and special seafood soup.
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Total fights: 32
Wins: 28
Wins by KO: 26
Losses: 4
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Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding
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