In light of the rising tide of financial scams targeting residents across the UAE, Stewarts Academy has successfully organized the Financial Literacy Summit at the Grand Millennium Al Wahda Convention Centre in Abu Dhabi.
The Financial Literacy Summit welcomed approximately 150 attendees from diverse backgrounds, including students, teachers, engineers, shop assistants, and delivery drivers who wanted to learn and protect themselves against financial fraud.
Scam-related losses in the UAE surpassed $54.45 million (AED 200 million) in 2024 alone, therefore, Stewarts Academy took the initiative to tackle this growing issue using an educational, community-based approach.
Unlike typical trading events that focus on high-pressure sales tactics and unrealistic promises, this Financial Literacy Summit offered a relaxed, supportive, and educational environment, with the primary goal of delivering genuine value rather than pushing sales.
The event prompted participants to share their personal stories to emphasize the psychological and financial stress that scams can bring. A teacher said he lost more than $3,267 (AED 12,000) on a free forex training course.
A delivery driver told of how an influencer on social media duped him out of two months of savings. These examples highlight the need for financial education to be extremely open and transparent.
Financial Literacy Summit participant, Ala (student), shared that she has newfound confidence, noting that, “No one has ever explained trading to me in simple words. I am now sure that I will not fall for scams again.”
Stewarts Academy applied its unique ‘teach then trade’ principles by facilitating four workshop-style sessions that included case studies, discussions, expert knowledge-sharing, and ongoing mentorship opportunities.
Participants enjoyed interactive group discussions, board games, and networking in a friendly and informal setting. Opportunities for networking were available with food and refreshments, as well as informal opportunities for on-floor learning and connecting with other participants.
A trained mentor from the academy said that, “We want to break down the idea of quick money and give people the information that they need to find the scams and avoid them.”
Looking ahead, the academy plans to expand its reach by hosting similar free financial education events across the UAE. With a continued commitment to promoting financial independence, it remains dedicated to empowering individuals through informed decision-making and responsible trading practices.
