23 Oct 2022
The Ministry of Education has issued a circular to all departments of education throughout the Kingdom’s provinces and governorates, special education programs and Saudi schools abroad, with instructions to implement Riyali Financial Literacy Program (“Riyali”), in cooperation with SEDCO Holding, in schools during this academic year.
The circular comes in continuation of the approval of H.E. the Minister of Education to implement and sustain the program in the educational community, with the aim of equipping students with the necessary financial skills, and promoting the culture of saving, investment and entrepreneurship, in order to achieve the educational strategic objectives and the Kingdom’s Vision 2030, which had emphasized the adoption of projects and initiatives to foster the skills of financial awareness and saving.
The circular of H.E. the Deputy Minister of Education confirmed the activation of the program in all schools, with the aim of spreading financial awareness and saving for all students at all school levels.
The program’s educational activities and training workshops are being introduced in all elementary, middle and high Schools in the Kingdom, under the categories of Ashbal Riyali, Ajyal Riyali, and Shabab Riyali, respectively. In addition, the program will have two phases; phase one will take place in the first school semester and will focus on Financial Awareness, where students will have the opportunity to participate in workshops and lessons to learn the basics of financial literacy, as a condition for moving to the next phase.
The second phase, to be introduced in the second school semester, will focus on the Riyali Competition, which aims to put the students’ financial knowledge to the test, following their successful completion of the program. Through Riyali Competition, students will have the chance to win cash prizes provided by Riyali Financial Literacy Program, totalling up to SAR 500,000, to be distributed to the winners of the competition at the end of the current school year.
The circular also included the activation of World Savings Day and Global Money Week in all schools, and required each school to nominate a coordinator of the program in the educational departments, and circulate to schools to nominate a Riyali ambassador in each school and invite them to attend the educational and introductory workshop.
Established in 2012, Riyali Financial Literacy Program is one of the most important programs launched by SEDCO Holding as part of its social initiatives, with a purpose of raising financial awareness and provide members of the Saudi society, with the necessary basics and financial tools to ensure that they have the necessary skills to manage their finances for a better life. With a goal to reach 3 million beneficiaries by the end of 2024, Riyali aspires to continue expanding its reach and positively influencing members of society, as well as helping empower the youth in the Kingdom to make decisions that set them on the right course towards financial resilience and well-being.