Riyali, SEDCO’s leading financial literacy program, has successfully concluded the nation’s largest online financial literacy competition, which was held in partnership with the Ministry of Education during March and April 2021. The competition celebrated the 5th anniversary of the Vision 2030 by working towards its goals of raising the percentage of household savings from 6% to 11% across the nation, while increasing the contribution of productive families to the national economy.
The competition — which aimed to raise awareness and boost financial literacy, and help students develop saving, budgeting and financial planning skills — saw over 400,000 students participate nationwide, 230,615 female students participate, along with 165,870 males. The competition also saw the participation of 7,000 Riyali Ambassador educators, while 47 education departments across all of Saudi Arabia were also actively involved with the competition.
Participants competed for a total SAR 400,000 in awards across multiple categories. The competition targeted three age groups — elementary school students aged between 9-12, secondary school students between 13-16 years of age, and intermediate school students from 16-19 years old. The top 100 winners across these categories won a total of over SAR 300,000.
There was also a special awards category for Riyali Ambassadors — teachers and educators who took the initiative in encouraging the participation of students in the Riyali program. The top 30 Ambassadors won over SAR 100,000 Riyals, while the top 10 education departments nationwide were also honored.
Riyali competition paid tribute to the 5th anniversary of the Saudi Vision 2030 by emphasizing the Vision’s goals — raising the percentage of household savings from 6% to 11%, increasing the contribution of productive families to the national economy, and empowering entrepreneurs and SMEs. The also emphasized and amplified the enduring relationship between Riyali and the Ministry of Education, which was recently renewed again for 3 years.
Riyali’s partnership with the Ministry of Education has seen over 1.6 million students benefit from financial awareness through direct and e-training. A study conducted recently by Riyali on more than 24,000 beneficiary students in 16 cities across the Kingdom, showed that 86% of respondents started saving, and also developed prudent financial habits after joining the Riyali program.
Riyali Financial literacy program is one of the most important programs launched by SEDCO Holding as part of its social initiatives. The program aims to enhance financial literacy among various segments of society, develop their skills and provide them with the knowledge that enables them to face their financial responsibilities for a better life. Riyali program is certified by the Ministry of Education in schools and universities, and has many strategic agreements, most notably with the Ministry of Education and the Saudi British Bank (SABB). The program has reached more than 1.6 million beneficiaries so far.
Further details on the competition, categories and vision are available at https://riyali.com/win/