From the Saudi Gazette: Financial literacy key to economic development

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JEDDAH — Following the global financial crisis, financial literacy is playing a critical role in economic recovery and development, industry experts said in unison at the recently held “Hope Global Financial Dignity Summit” in Atlanta, Georgia, attended by delegates from more than 50 countries.

SEDCO Capital CEO Hasan Al Jabri, one of the key speakers at the event, said “following the global financial crisis, the role of private sector organizations as innovators of corporate social responsibility programs has become increasingly important. This is certainly the case at SEDCO where we recently launched our strategically aligned CSR program “Riyali” focusing on financial literacy and that we developed in consultation with Operation HOPE, a global social empowerment nonprofit organization and the organizer of the Global Financial Dignity Summit.”

SEDCO’s Riyali program addresses the need to educate the Saudi population on financial literacy and empower them with personal finance skills required to achieve a desirable standard of living. The first phase, targeting college students, was launched in September this year. He said the role of private sector organizations as innovators of corporate social responsibility programs has become increasingly important. This is certainly the case at SEDCO where we recently launched our strategically aligned CSR program “Riyali” focusing on financial literacy and that we developed in consultation with Operation HOPE, a global social empowerment nonprofit organization and the organizer of the Global Financial Dignity Summit.”

SEDCO Holding VP of Corporate Communications and Marketing Amr Banaja, who headed one of the working groups, spoke on the subject of Leadership: The Future Role of Philanthropy and Corporate Social Responsibility (CSR). 

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