INJAZ Al-Arab and HSBC have launched the joint initiative “Saving for Good”, to upskill 1,950 low-income workers through financial literacy programs aimed at alleviating job market challenges. The initiative was launched during a digital event on 16 August and was rolled out across the Gulf countries and Egypt.
With the COVID-19 pandemic leading to abrupt job losses and leaving individuals with little resources to sustain themselves, “Saving for Good” aims to empower low-income workers to ensure their readiness and to respond to crises such as COVID-19 in the future. The initiative will focus on helping them open bank accounts, instill saving habits and learn how to manage those savings. “Saving for Good” in Qatar is led by INJAZ Qatar in partnership with HSBC, Jaidah Group and Gulf Exchange to reach 300 low income workers.
Commenting on the “Saving for Good” initiative, Mr. Emad Al Khaja, CEO of INJAZ Qatar who participated in the panel discussion, said: “In the past five years, there has been a lot of efforts in Qatar as the government has been focusing on labor rights such as health care, sponsorship system and the wage protection system. When it comes to financial literacy, INJAZ network has been spearheading a lot of efforts on educational process. This initiative “Save for Good” is an expansion of our existing mission and it would help us partake in the ecosystem to create a healthier economy.”