News & Event

The Gulf Forum for Financial Innovation for Public School Students (grades 10-12) was launched. The forum is organized by the Arab Bureau of Education for the Gulf States (ABEGS) in cooperation with the Ministry of Education in the Sultanate of Oman, represented by the project to instill the principles of financial literacy in school students (Khazna). The forum, held under the slogan: “Financial Innovation: An Investment in the Future,” was held under the patronage of HE Majid bin Said Al Bahri, Undersecretary of the Ministry for Administrative and Financial Affairs, and in the presence of HE Prof. Dr. Abdullah bin Khamis Ambosaidi, Undersecretary of the Ministry for Education, and Prof. Abdulaziz bin Mohammed Al Ruwais, Supervisor of Programs Management at the Arab Bureau of Education for the Gulf States. The forum brought together a number of creative educators and students in the field of financial innovation from the Gulf Cooperation Council countries, along with technical and financial expertise, with the aim of exchanging ideas and transferring specialized knowledge.

The opening ceremony of the forum included a speech by the Arab Bureau of Education for the Gulf States (ABEGS), delivered by Prof. Abdulaziz Al-Ruwais, Supervisor of Programs Management at the Bureau. He said: “This forum serves as a pioneering and comprehensive platform for member states of the Arab Bureau of Education for the Gulf States to activate collective action and exchange expertise and experiences to study the reality of financial innovation in public education in our countries by reviewing the creative achievements of our students to encourage them and develop their potential. It also discusses successful international experiences in the financial innovation industry and arrives at outcomes that make our educational environments enabling environments for financial innovation and the dissemination of financial culture. It is hoped that the outcomes of this forum will contribute to increasing opportunities for communication and interaction between experts and students in the field of financial innovation, increasing students’ financial and economic awareness while developing their financial talents, fostering a spirit of initiative and ambition among students with innovative ideas, introducing students to the tools of entrepreneurship and establishing small businesses, and promoting a culture of financial independence, savings, financial planning, and rational consumption. It will also benefit from inspiring experiences in applying financial innovation in educational environments to implement them in our schools.”

Regarding the topics discussed in the forum, Prof. Dr. Abdulaziz Al-Ruwais said: “The general topics of the forum include discussing the reality of financial innovation programs in public education environments, discovering and nurturing financial innovation talents at an early age, developing financial innovation for students through digital technology and artificial intelligence, stimulating student creativity in the field of entrepreneurship and small projects, in addition to presenting creative student models in the fields of financial innovation, institutional partnerships to support the teaching of financial innovation in schools, financial technologies (FinTech) and how to include them in school education, and student financial culture as a pillar of economic empowerment and societal stability.”

Dr. Haifa Al Maamari, Director of the Financial Literacy Project for School Students (Khazna), then delivered a speech in which she said: “We come together today in the Sultanate of Oman in an inspiring space for creativity, thinking, and the exchange of experiences. This Gulf Forum for Financial Innovation brings together, under its umbrella, an elite group of students from the Gulf Cooperation Council countries and their supervisors, in a meeting that embodies the spirit of cooperation and integration and affirms the strength of fraternal ties between the people of the Arabian Gulf.”

She added: “This forum comes within the framework of the Arab Bureau of Education for the Gulf States' commitment to developing students' skills and enhancing their financial awareness, in line with our countries' aspirations to build financially conscious generations and enable them to think of creative and innovative solutions to future challenges. This embodies an ambitious vision aimed at establishing a culture of innovation and enhancing its skills. This meeting also embodies the fruits of constructive cooperation between educational institutions in the Arab Gulf states and reflects the deep belief that true investment is investment in people, their energies and creativity, so that they can be effective partners in the process of sustainable development, capable of leading the financial development process and shaping the economic future of our Gulf countries in a spirit of cooperation and integration.”

The first day of the forum featured a panel discussion titled "The Reality of Financial Innovation in Public Education Environments in the Member States of the Bureau: Reality, Hopes, and Challenges." Presented by Dr. Laila Al-Saleem, Professor Dr. Khaled Al-Masham, and Dr. Laila Al-Ghamdi, the session discussed a range of issues, including the reality of educational environments as enabling environments for teaching and practicing financial innovation; the presentation of successful international and Gulf experiences in teaching and promoting financial innovation; how to select and activate enrichment curricula and extracurricular activities for financial education in educational settings; and the challenges facing spreading financial awareness and financial innovation: organizational, human, and environmental needs. A discussion workshop titled "How do I create an innovative financial project idea?" was also presented by Dr. Murad Awad, targeting students participating in the Gulf Forum. The workshop discussed several topics, including the steps of design thinking in the financial field, brainstorming, idea generation, and the project from concept to plan.

The forum's activities included a showcase of the success stories of winning national entrepreneurial projects, the first of which was the Warf Student Company at Sultan Qaboos University. Ilyas Al-Salhi, the company's Operations Manager, is an inspiring model for ambitious youth. He began his entrepreneurial journey by establishing the company with the goal of enabling students to gain practical experience in a realistic business environment and assume management and development responsibilities. Ilyas faced many challenges throughout his career, most notably the difficulty of balancing the demands of study and work, along with a lack of experience in the job market and dealing with discouraging opinions that questioned the team's capabilities. Nevertheless, he overcame these obstacles with determination and perseverance, proving that the path to success is not without difficulties, and that true achievement is achieved through hard work and belief in an idea until it reaches its goals.

Shatha Al Jabri, partner, and founder of Meshan, spoke about her experience, saying: “The project’s success story began in 2011 as a home-based initiative specializing in Omani dates. It achieved a remarkable milestone by obtaining intellectual property rights for the first project of its kind in the Sultanate of Oman and the Gulf States. With the expansion of the vision, 2015 witnessed the opening of the first Omani café registered with an official trademark. This was followed in 2017 by the establishment of a buffet line to meet the growing demand and expand the scope of services. In 2020, the Nizwa branch was opened, reflecting a new phase of expansion, leading up to 2023, which witnessed the operation of the Damask Resort in Jabal Akhdar, a step that strengthens the project’s presence within the Omani hospitality and tourism sectors, and confirms its ability to continuously develop and innovate in its various fields.”

The forum also included the Entrepreneurship and Financial Innovation Challenge Competition, which reviewed its regulatory framework. The competition is a student platform aimed at developing financial awareness and fostering a culture of entrepreneurship among students by encouraging them to come up with innovative financial solutions and ideas that contribute to the development of the national economy. It provides a stimulating environment for critical thinking and teamwork, equips students with financial planning, management, and decision-making skills, and allows them to present their projects to specialists and experts who support their ideas and transform them into real-life projects. The first day concluded with an enrichment lecture titled "Artificial Intelligence and Financial Innovation," which discussed the use of AI in fostering financial literacy, the role of AI in developing financial transactions, AI tools for financial innovation, and practical models for using AI in financial applications.

The forum's entertainment program, held in the evening of the first day, included an icebreaker event in Al-Sahwa Gardens. Icebreaking activities are essential to the success of student forums, as they contribute to creating an atmosphere of familiarity and positive interaction among participants from the very first moments. They help students get to know each other and communicate smoothly, and reduce the fear of formal meetings, creating a stimulating environment for dialogue and the exchange of ideas. These activities also contribute to developing teamwork skills and fostering a spirit of cooperation, which positively impacts the level of participation and engagement in forum activities, making the experience more enjoyable and beneficial for all participating students.