Financial Literacy Goes Digital in Middle East

Financial education enthusiasts were buzzing over the announcement by interactive learning pioneer Ekomini that it is partnering with technology provider Digital Middle East to roll out digital financial literacy solutions in Bahrain and surrounding regions.  The financial education offerings will include both web-based and mobile-based applications designed to assist children and their families with the understanding of financial concepts, while empowering them to have greater control over their money-management decisions.

The products to be rolled out in connection with this venture are intended to be entertaining for kids so that they enjoy learning the topics covered in the program.  The initiative’s offerings also include a curriculum for schools and a social game for families with a range of digital applications.

The announcement of this partnership comes at a time when many countries are move forward with national financial education programs, and this venture enables governments in this region to leverage the digital technologies and applications to support financial literacy programming via communications channels that increasingly are espoused by the populace.  It is largely for this reason that the Bahrain Economic Development (EDB) was engaged and involved in the development of this partnership.  EDB also supported this venture as part of its focus on encouraging businesses to access the Bahraini market.

EDB represents just one of the latest of many countries in the Middle East region and, indeed, throughout the world embracing financial literacy as a critical means for individuals and families to enhance their abilities to better manage their overall financial health.  Moreover, the initiatives being launched in recent months increasingly leverage digital, mobile and other communications channels that are becoming used more widely by consumers.  This partnership between Ekomini and Digital Middle East falls squarely within this new trend.  And as a growing number of financial education programs and initiatives enable individuals to get the information and tools they need via the broadest range of technologies, the impact of financial literacy solutions should continue to be magnified in communities throughout the world.