Competition featured the participation of more than 50 thousand students from 47 educational administrations across the Kingdom
The Riyali financial literacy program, which is offered by SEDCO Holding in partnership with SABB Bank, has announced the results of the Ashbal Riyali Competition for primary school students. Launched in cooperation with the Ministry of Education in January 2020, the contest attracted the participation of more than 50 thousand students from 47 educational administrations across the Kingdom. The competition aimed to spread a culture of financial literacy among as many students as possible, while also involving various segments of society.
The top three national winners were announced after reviewing all nominated videos, together with the winners from local educational administrations. Entries were selected according to criteria based on advanced thinking skills approved by the Ministry of Education as well as cumulative grading, which included the level of financial literacy displayed the challenge set by Riyali, and the assessments of the judging committee.
For the boys’ competition, the first-place winner in the Kingdom was Ziad Bakr Al Hawsawy from Salah Al Din Al Ayoubi School in Madinah. Juwen Mohammed Baeissi from the 7th Elementary Model School in Jeddah came in second place, while Rakan Bassam Al Sakia from Al Fikr Al Tarbawwi School in Al Rass Governorate claimed third place.
The first-place winner in the girls’ competition was named as Hala Al Amer from Al Kifah Academy in Al Ahsa Governorate, while second place went to Layan Fayyad Al Duailej from the 9th Elementary School in Al Mabraz in Al Ahsa Governorate, and third place to Jumana Abdul Rahim Al Malky from the 52nd School in Taif Governorate.
The first-place national winners were awarded 5,000 SAR, while the second and third-place winners won 3,000 SAR and 1,500 SAR respectively. The top three winners’ schools were also recognized. In addition, a local winner was selected from every participating educational administration, each of whom received a prize of 1,000 SAR.
Abdulrahman Al Turjuman, Head of Marketing and CSR at SEDCO Holding, stated: “The response to this competition highlights the level of interest in developing financial literacy through Riyali and its programs, which tackle savings, managing earned money, and taking responsibility – all of which are values we aim to instill in our youth. Its success underlines the efforts the program has been making since its launch in 2012.”
He continued: “Riyali’s partnership with the Ministry of Education has played a major role in enhancing the financial literacy of students, particularly primary school students, by enlisting the program as an extracurricular activity in schools. This competition has effectively instilled financial literacy at all levels, and we are pleased to extend our sincere thanks and appreciation to everyone who contributed to its success including parents, teachers, and our partners, all of whom helped to support the spread of financial literacy in line with the objectives of the Kingdom’s Vision 2030.”
Riyali conducted a survey among parents of participants to measure the impact of the competition in helping students obtain financial knowledge and track the extent of their behavioral changes when dealing with money. The results showed that 83% of parents felt their children had learned the concept of saving, while 78% stated that their children have already started implementing this concept. 92% of parents stated that their children became more confident and demonstrated improved financial dignity.
The competition was launched last January in cooperation with the Ministry of Education and SEDCO Holding. The students taking part went through a series of different tests designed to enhance their financial literacy skills, with more than 2,400 participants reaching the final stage.
The Ashbal Riyali competition is an extension of the successful partnership between the Ministry of Education and the Riyali financial literacy program, which began in 1438 AH and has impacted more than 1.23 million public education students by developing their financial skills and equipping them with the knowledge to face their financial responsibilities. The program seeks to train students on the principles of saving and financial planning at all school levels. Riyali is certified by the Ministry of Education in schools and universities with several strategic agreements in place, most prominently with the Ministry of Education and the Saudi British Bank (SABB). The program is on course to reach its target of two million beneficiaries by the end of 2020.