Tag: Financial Literacy

What is the Nafis Program? How Does it Empower Emirati Talent?

The Nafis program is a government-led initiative to empower Emirati nationals to develop global-level competencies and pursue their careers in the private sector. The UAE government is always keen on bringing prosperity and growth to the nation through offering support to Emirati nationals.

Unemployment Insurance Scheme: How New Employees Can Subscribe?

As of January 1, 2023, the United Arab Emirates (UAE) introduced the Unemployment Insurance Scheme, an initiative to provide financial protection to employees during periods of job loss.
This program provides a lifeline for UAE nationals and residents working in the private sector or federal government,

Is a Credit Card the Best Solution to Manage Your Payments?

Most of us are comfortable using credit cards, especially in UAE, a spending-savvy country. However, credit cards come with the risk of debt accumulation, high-interest charges, risk of theft, etc.

The Easiest Way to Save Money for Investment Beginners – Payit Event Recap

Payit, in collaboration with the Indian Women in Dubai (IWD), successfully organized the third “Real HERoes” event session. The event was a sincere and enlightening gathering that honored women as genuine heroes and sought to empower them on their path to financial independence.

5 Common Mistakes to Avoid While Sending Money from UAE to Philippines

UAE to Philippines
The UAE Dirham (AED) and Philippine Peso (PHP) exchange rate is highly volatile and can change rapidly based on real-time events. Thus, you must be extra careful when sending money from the UAE to the Philippines.
Whether you support your family back home or make other financial arrangements, ensuring your hard-earned money reaches its destination safely and cost-effectively is crucial. This blog explains people’s five most common mistakes when transferring money from the UAE to the Philippines.

Nepali Rate in UAE: What is it and How is it Determined?

The Nepali Rupee (NPR) and the UAE Dirham (AED) exchange rate, commonly known as the Nepali Rate, is a vital economic metric influencing various financial activities.
Many factors, including the economy and trade between the UAE and Nepal, influence the Nepali Rate. For example, the UAE exported $505 million to Nepal, and Nepal exported $4.01 million to the UAE in 2021 . This trade balance affects the strength of each country’s currency.

Understanding Exchange Rates and Fees: Cheapest Way to Send Your Money Home

Transferring funds back home is often a routine financial task, yet it can become expensive without the right know-how. While the fundamentals of exchange rates and fees are generally understood, a more nuanced understanding can lead to substantial cost reductions.
This post digs into those advanced aspects. It’s tailored for individuals with a foundational understanding of international money transfers and looking to optimize their financial decisions. The discussion will cover the intricacies of exchange rates, the actual costs behind so-called free transfers, and the pivotal role of timing in financial transfers.

10 Ways Scammers Can Scam You in the UAE

Cybersecurity analysts report that as many as 3.4 million Phishing attempts were detected in the UAE in just one quarter of a year. The country’s economic prosperity and cultural diversity make it a prime target for various scams, from real estate fraud to identity theft.
This blog aims to dig into these sophisticated scams, shedding light on the methods that are often overlooked but are equally damaging. The focus is not just on raising awareness but on providing actionable insights.

Your Guide to Successful Online Money Transfers: Do’s and Don’ts to Remember

Online money transfers have become integral to your financial routine, whether sending money to your home country or simply paying the bills. The ability to send money across borders with a few clicks has brought unprecedented convenience to our lives. However, with this convenience comes the responsibility to navigate the digital domain safely and securely.

Own a Property in UAE? Get Golden Visa and Here’s How to Apply for It

The UAE residents were greatly relieved when the Golden Visa rules were updated in October since it removes the hassle of renewing the visa every year. The residents can now get a golden visa with 10-year validity, a reduced investment, and no purchase transaction restrictions.