Welcome to Dhakir Hamdan – Unesco


Financial Education In UAE


Financial education is an important aspect of any countries education. These are studies that should be integrated into any education system in every country. UAE is not exceptional to this. It has been ranked as one of the top 3 countries to be well financially literate. This is an improvement from them being the 6th in the country in 2010. This is something to be proud of. This shows that more UAE citizens are aware of their financial status and make well informed decisions about the same. It provides a country’s financial sector some rest to know this.
Some institutions such as the Emirates institute of Banking and Financial Studies is an institution that is at the forefront of this education in the area. This is as from 1983. With them training people in banking and financial studies and related studies, they have made significant contributions to the lifestyle and the economy of the country. With more people having some knowledge about the financial world, then a country is on the right track to making strides towards achieving any of their goals economically.


Financial literacy in the UAE

After witnessing UAE making money blunder left, right and center repeatedly there is only one question left to ask. Where and when did the rains start beating UAE? The true answer to this question is; financial illiteracy. It is very painful to admit that simple truth especially in time when that kind of ailment is a thing of the past, a bygone. Well, at least not in UAE.

Citizens should be made aware of the importance of good financial management and future implications of financial illiteracy in the future. UAE is already experiencing financial implication as a result of past financial incompetence. One of the implications is, discouragement of investors in Emirates.
A study conducted indicated that the degree of financial illiteracy was slightly higher in women compared to men and other factors that affected the same include: workplace activity, education level and income level. Religion and rumors also play a big role here.


How Does Unesco Raise Money?


UNESCO is a world heritage body mandated to protect and conserve world heritage sites. It therefore requires money to run its errands since without financial help it would be really hard to meet world heritage needs. Some of their sources of income are:
1. Funds from the World Heritage Fund
The approximated amount that the world Heritage Fund gives Unesco is $ 4 million each year to assist with the activities. Thus the world heritage fund is the biggest source of funding for Unesco. This includes compulsory contributions and donation by member states. They also get funding from other private states who just wish to help. The committee heading the world Heritage fund would then allocate the funds as per the urgency of requests, with special consideration being given to states which are highly threatened.


UAE Traditions and Unesco Heritage Lists


UAE is a country with small community considered to be tribal and found in the Gulf, Arab and Muslim world. The country has a diverse society with a lot of Traditional Heritage which attracts a lot of tourists. Some of the Traditional heritages that have been accepted by the International body of heritage are;
Arabic coffee –this comes from the Gulf countries such as UAE, Saudi Arabia, Oman and Qatar. The coffee was accepted in December 2015, by the international Heritage Committee as a heritage site after a proposal was presented to the Committee by the government of UAE. The coffee is accepted as a heritage by Unesco and Intangible Heritage of Humanity representative list. In UAE the Arabic coffee is seen as assign of generosity and hospitality. It promotes peace and cohesion through sharing, thus a heritage due to its long standing tradition.


World Heritage Fund Financial Regulations

Do you want to know the financial regulations of the World Heritage Fund? The United Nations set up the World Heritage Fund under Article 15 (the Convention).It’s a trust fund that aims to finance the protection of the World’s Cultural and National heritage.
Its financial regulations conform to the United Nations Educational, Cultural and Scientific Organization (UNESCO) rules. Below is a guide to the operations of this fund.
• Purpose
The Fund receives contributions from various sources and makes payments to enable countries and organizations protect the world’s cultural and heritage sites.
• Financial Duration
Its budget runs in two consecutive calendar years. That allows it to coincide with UNESCO’s regular budget.
• Sources of the Trust Fund
The Fund receives money from the member States that are Parties to the convention. UNESCO also contributes as well as other United Nations UN bodies. For example, the United Nations.
•Development Programme
Other sources are contributions from private and public institutions, individuals, interest from the Fund resources and collections from events that are organized to raise money for the Fund. These contributions are assessed by the general assembly of the State parties to the convention.