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Reading: MasterCard celebrates Global Money Week
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Dailynewsegypt > Blog > Business > MasterCard celebrates Global Money Week
Business

MasterCard celebrates Global Money Week

Daily News Egypt
Last updated: 2014/03/10 at 7:06 AM
By Daily News Egypt 2 Min Read
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A survey conducted by the Mastercard Worldwide Insights index between July and August 2014 has found Egyptian consumers to be very optimistic. (AFP Photo)
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MasterCard has launched its Global Money Week initiative to spread awareness about the importance of children having access to safe financial institutions become "productive economic citizens".  (AFP Photo)
MasterCard has launched its Global Money Week initiative to spread awareness about the importance of children having access to safe financial institutions become “productive economic citizens”.
(AFP Photo)

By Menna Zaki

MasterCard has launched its Global Money Week initiative to spread awareness about the importance of children having access to safe financial institutions become “productive economic citizens”. The celebration will be between the 10 and 17 March to provide a chance for youth to learn about creating their livelihood.

MasterCard said Global Money Week also gives young people the opportunity to think about their “financial future”, with 12.9% of Middle Eastern youth given access to bank accounts at formal financial institutions. Having access to safe financial products and services helps in the development of youth in different aspects socially and financially as it allows them to aim for their goals, the company said. It also helps them along with having access to” proper education and products they need to succeed financially and economically”.

Financial institutions will benefit as well from the initiative, as the banks will be provided the opportunity to build long term relationship with their customers. “Young adults are two times more likely to own savings accounts, two times more likely to own credit cards and four times more likely to own stocks when they have savings accounts as children,” according to a recent University of Kansas study.

The consequences of not addressing the need for secure financial products include financial and social exclusion and higher unemployment, which may lead to over-indebtedness and poverty.

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TAGGED: Daily News, Daily News Egypt, DNE, Finance, MasterCard, MENA, youth
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Popular video-sharing app TikTok was granted by the U.S. government a 15-day extension to reach a deal with U.S. buyers, a federal court filing showed Friday. This means the deadline for ByteDance, TikTok's Chinese parent company, to reach a deal with Oracle and Walmart has been extended from Nov. 12 to Nov. 27, according to the U.S. District Court for the District of Columbia.
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Sukari gold mine’s production reaches 5.2 million ounces with $7.5bn revenues in February 2023
Sukari gold mine’s production reaches 5.2 million ounces with $7.5bn revenues in February 2023
Business
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