The Maldives Islamic Bank (MIB) and Ghiyasuddin International School (GIS) have signed a memorandum of understanding (MoU) towards enhancing financial literacy among students.
Under this agreement, MIB will be introducing cash cards for GIS students – dubbed ‘Aaila’ Card – which is designed to aid in financial management, offering practical tools for young learners to understand and manage their finances efficiently.
The agreement was signed between MIB Chief Executive Officer Mufaddal Idris Khumri and GIS Principal Thoha Saleem.
“The Aaila cards will serve as a tangible resource for students to develop essential money management skills early on,” MIB was quoted by local media ‘Sun’ Online.
Though the cards are designed to enhance financial management skills among students, parents will maintain control over the cards which is usable under certain limits.
Besides this, MIB will also provide educational programs focused on financial literacy to students to facilitate knowledge on various topics including savings, investments, and budgeting – all aimed at extending comprehensive understanding of banking and financing concepts.