Transformational Education Interventions: Insights from the United Kingdom and Kuwait
There is a growing global consensus on the need for financial literacy interventions in schools to provide children and young people with the skills to make good financial decisions. In the United Kingdom, there have been campaigns for financial education to be introduced as a compulsory part of the primary curriculum. Research commissioned by the banking app GoHenry found that prioritising financial education would inject an extra £6.98 billion into the British economy each year. In the Middle East and North Africa, average financial literacy falls slightly below the world average at 30.07% and in a 2018 survey by Visa and the Al Etihad Credit Bureau, 43% of young adults (aged 16 to 24) in the UAE admitted that they are not ready to manage their own finances. In Kuwait, a survey from 2018 shows that while the level of financial literacy there is higher than in Bahrain, Saudi Arabia and the UAE, the general level of understanding of basic financial concepts remains low. Notably, the Central Bank of Kuwait has set out guidelines to enhance financial inclusion and literacy in the country.
Through a collaboration between NatCen International, the global arm of the National Centre for Social Research, Creative Confidence Consultancy and Training Institute (CCCTI), and the National Bank of Kuwait (NBK), this event will feature the launch of the findings of an ambitious one-year evaluation of the Bankee Programme, a financial literacy intervention targeting primary school children in Kuwait. The findings reflect on the process of adapting an international financial literacy intervention to the Kuwaiti context and the extent to which it has improved the financial literacy, financial behaviour, and overall wellbeing of primary school pupils in both public and private schools in the country. The findings provide reflections on good practice, opportunities and challenges for similar interventions in Kuwait.
Additionally, the event addressed three key questions on transformational education initiatives, drawing on insights from the United Kingdom and Kuwait:
- How can financial literacy programmes be effectively embedded in school education across different social, economic and cultural contexts? What are the practical challenges and opportunities?
- What are the lessons learned from financial literacy programmes in the United Kingdom and Kuwait?
- What are the opportunities and challenges in the development of public-private partnerships to strengthen financial literacy in education?
Programme
12:30 Registration and Welcome
13:00 Opening Remarks
13:30 Evaluation of the Bankee Intervention: Key Findings and Reflections
15:00 Comfort Break
15:15 Panel Discussion: Integrating Financial Literacy in Schools: Lessons from the UK and Kuwait
16.15 Comfort Break
16:30 Public-Private Partnerships in Education: Opportunities and Challenges
17:30 Closing Remarks
Speakers
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Manal Al MattarDeputy General Manager & Head of Group Corporate Communications National Bank of KuwaitManal Al Mattar is the Deputy General Manager & Head of Group Corporate Communications at the National Bank of Kuwait. She leads a team that manages and drives the Corporate Communications function for the Group in different areas for various stakeholders, PR & Events Management, Digital Communications, Social Media, CSR & ESG alignment, Internal & External Communications, to position the bank as a leading organization in Kuwait & the region. Manal has a Master’s Degree in Human Resources Management from the American University in Beirut (May 2014), and a Bachelor of Arts in Mass Communication from the American University in Cairo with specialization in Advertising & Public Relations (May 1995).
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Bazza AlmudhafBankee Program Manager Creative Confidence Consulting and Training InstituteBazza Almudhaf is the Bankee Program Manager at the Creative Confidence Consulting and Training Institute. She leads the team responsible for managing the Bankee program in Kuwait, which involves process design, content development, platform management, school training and onboarding, tracking and monitoring, and program evaluation. She previously worked at The Kuwait Foundation for the Advancement of Sciences (KFAS) as an Officer at the Office of International Programs and has held roles as a Business Development Specialist at a trading company and as a Language Instructor at Kuwait University. Bazza holds a Master’s Degree in Comparative Literature from UCL (2018) and a Bachelor’s in Language, Literature, and Philosophy from Kuwait University (2015).
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Diane AbdallahResearch Director National Centre for Social Research
Diane joined NatCen International in July 2023 as a Research Director. Her research will centre on Global Health with a focus on Equity and Inequality. Before joining NatCen, Diane was a Lecturer in Psychology at the University of Kent with an interest in Social and Political Psychology. During that time, she worked on developing a module on race and racism that spans across multiple humanities and social sciences subjects including: Psychology, Sociology, Economics, Politics, Anthropology and Conservation. She also assisted in devising and implementing a creative mentoring programme for Graduate Teaching Assistants using methods to enhance their wellbeing and role in the School of Psychology.
She is a mixed-methods researcher with experience in carrying out both quantitative and qualitative research in Social, Political and Organisational Psychology. She was also the Methods and Statistics module convenor for the MSc program in Organisational Psychology.
She has previously worked with Syrian Refugees in Lebanon and investigated the factors underlying the #MeToo movement in Lebanon.
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Georges PoquillonResearch Director National Centre for Social Research
Georges is a Research Director at NatCen’s Centre for Evaluation and has a background in economics. His main areas of interest are education, health, and crime, both in the UK and abroad, and he has long experience using experimental and quasi-experimental evaluation methods.
Before joining NatCen, Georges worked at the World Bank on a large-scale RCT to evaluate a youth employment programme in Kenya (2020), and he was also a Senior Research and Operations Manager at Precision Development (PxD) in Nairobi (2021-2022). At PxD, Georges lead several research projects on agriculture in East Africa and South Asia, including impact evaluations.
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Sumayah AljasemCEO Creative Confidence Consulting and Training InstituteSumayah Aljasem is the Founder and CEO at the Creative Confidence Consulting and Training Institute. She is a leader in innovation, collaboration, and creativity. As a respected coach and trainer with a deep understanding of the local mindset, she brings practical methodologies that help people collaborate and turn ideas into reality. Her clients span various sectors, including energy, finance, and education. A certified Creative Problem Solving practitioner, Sumayah is part of an select group of international coaches working with Strategyzer in Business Model Innovation and Value Proposition Design. She holds a Master's in Management Strategy and has completed executive training at Stanford, Berkeley, and Cambridge universities. Before founding Creative Confidence, Sumayah worked with the Kuwait Foundation for the Advancement of Sciences, where she pioneered innovation training programs both locally and internationally.
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Toby YorkAccountantToby York qualified as a chartered accountant in 1989 with a firm now part of RSM. After spending time in audit, corporate finance and corporate recovery, he moved to Speciality Retail Group, becoming its Finance Director between 1996 and 2003, a period of rapid expansion and success for the company. Toby joined Middlesex University in 2003 but continues to be involved with private companies through corporate consultancy and by advising social enterprises. In 2021, Toby founded Accounting Cafe, a community for accounting educators and learners to find and share their best ideas. Accounting Cafe publishes resources, videos, and courses. It hosts workshops and seminars and provides a place for discussion and debate. In January 2024, he joined Wealthvox in the role of Research & Development Director. Wealthvox is a training company that owns and licenses the Colour Accounting Learning System for use in financial education workshops in commercial and academic settings. Toby was Chair of Finance at Queens Park Community School until 2018. Toby sits on the boards of various companies, social enterprises and charities. He sits on the ICAEW Academia & Education Community advisory group and is a member of the Employer Validation Panel for T Level in Accounting.
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Ali ZafarFounder and CEO of LifeSmart Financial LiteracyAli is an experienced educator and financial strategist with over 15 years of experience in teaching and financial services. His career in finance was marked by a successful tenure at Barclays Private Bank, where he managed significant portfolios for High-Net-Worth clients, specialising in market analysis, financial planning, and investment strategy. He earned his Chartered Financial Analyst (CFA) qualification, completing all three levels in under three years. After transitioning from finance, Ali founded a tutoring business offering bespoke educational services in London, Switzerland, and Luxembourg, and developed an adaptive online learning platform for competitive exam prep. He later founded LifeSmart, a platform focused on enhancing financial literacy through engaging and accessible learning. Ali’s strength lies in simplifying complex financial concepts, empowering individuals from all backgrounds to achieve financial independence.
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A Ramesh ArumugamUK-based Certified AccountantDr A Ramesh Arumugam is a UK-based Certified Accountant and Tax Consultant with experience in accounting, taxation, and education. He is licensed to certify statutory accounts and tax filings, he works closely with HMRC, the Charity Commission, the Pension Regulator, and Companies House. In addition to his practice, he is a qualified teacher and education assessor, specialising in accountancy, finance, and accounting/finance digital literacy. Dr A Ramesh Arumugam holds a PhD and MBA from Nottingham Trent University and is a Fellow of multiple professional bodies, including the Institute of Public Accountants, the Association of International Accountants and the Institute of Financial Accountants. He combines practical experience with academic knowledge, currently teaching at Westminster Business School, University of Westminster. With over 25 years of teaching experience across the UK and internationally, Dr A Ramesh Arumugam is passionate about inspiring students to pursue careers in accounting and finance. His mission is to blend real-world insights with education, helping students develop critical skills for their professional success.
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Rana AlresheedChief of Strategy and People Development Creative Confidence Consulting and Training InstituteRana Alresheed is the Chief of Strategy and People Development at Creative Confidence Consulting Company. With 25 years of diverse experience in the service industry, she has led various strategic projects across multiple business streams. She has contributed to major organizational initiatives, including brand positioning, brand intimacy development, marketing communication campaigns, segment evolution, and digital services, with a strong focus on customer adaptation. Rana has held executive positions and provided marketing strategy consultancy to leading organizations such as Zain, Burgan Bank, VIVA, Jazeera Airways, and Boubyan Bank.
Chair
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Sherine El Taraboulsi–McCarthyDirector, NatCen International National Centre for Social Research
Sherine is the Director of NatCen International where she leads a team of senior experts and researchers dedicated to shaping global social policy and practice. She is widely acknowledged as an expert in humanitarian and development policy, conflict, security and evidence uptake with a focus on the UK, Africa and the Middle East. Sherine has two decades of experience in leading and delivering on complex research projects and consortia as well as providing policy advice at a senior level to governments, donors and civil society organizations on their engagement in fragile and conflict-affected contexts.
Prior to establishing NatCen International, Sherine was a Senior Research Fellow at ODI where she launched and co-led a cross-institutional initiative on peace and sustainability in the Mediterranean region. Earlier in her career, she set up a research unit on regional philanthropy and civic engagement at the American University in Cairo. Sherine has held fellowships at Keble College at the University of Oxford, the Department of Asia, Africa and the Mediterranean at the University of Naples ‘L’Orientale’ and the King Faisal Centre for Research and Islamic Studies in Saudi Arabia. She has also been a guest lecturer at the Royal United Services Institute (RUSI) and Cranfield University in England as well as the Doha Institute for Graduate Studies in Qatar. Her work can be found in the International Review of the Red Cross, the Oxford Handbook of the Sociology of the Middle East, Development in Practice as well as book chapters in edited volumes with Palgrave Macmillan and James Currey. Sherine sits on the Board of Trustees of Protection Approaches, a UK charity dedicated to combatting identity-based violence in the UK and globally.
Sherine holds a DPhil from the Department of International Development and St. Cross College at the University of Oxford.