Abu Dhabi— Financial scams are on the rise in the UAE, leaving many residents vulnerable to fraudulent trading schemes and online scams. A local movement has thus gained momentum. The empowerment of people took a step forward when, under the same roof at the Grand Millennium Al Wahda Convention Centre in Abu Dhabi, some 150 teenagers and adults from various fields, such as teachers, doctors, engineers, delivery drivers, and shop workers, assembled for the Financial Literacy Summit sponsored by Stewarts Academy.
The event stood out in an industry usually marred by hard-sell tactics and fraudulent investment promises. Stewarts Academy, however, laid the groundwork for people to come and go as they wish, to share their experiences, learn practical techniques, and strengthen their confidence toward finance, rather than be subjected to any promotional work. These trading events typically encourage instant deposits, provide a few phony testimonials, and then disappear. The summit provided a refreshing change. Out of hundreds of testimonies given out about the event, a good number explicitly mentioned their relief that there was no pressure to do anything, but instead support, sympathy, and knowledge.
Testimonies stirred a heavy atmosphere around the issue. A schoolteacher related a tale, telling of how she was swindled out of over AED 12,000 for a free forex course. A Noon delivery boy narrated losing two months of savings after following some trading expert on Instagram. Thus, these would be the stories that would resonate louder in the room, as many would’ve nodded, for extremely similar deceitful tactics had been attempted on them.
Yet amid these tales of loss, hope and resilience were felt. “No one ever explained trading to me in simple words. Now I’m confident I won’t be fooled again,” Ala (Student) said, a feeling that truly reflected the spirit of the summit.
In 2024 alone, the UAE saw more than AED 200 million in losses from investment scams, including fake trading applications, unlicensed brokers, and online influencers promising undue profit. At Stewarts Academy, we are determined to disrupt this trend using affordable education and mentorship. During the summit, our team clarified trading concepts, provided real-world examples, and helped attendees identify the flags and be aware and remain alert. The ambience was relaxed and very human, like meeting friends rather than a formal education seminar; four thought-provoking discussions and games were included, food and drink, and plenty of time to meet and mingle.
Stewart’s Academy uses the philosophy of “teach then trade.” By working with small groups and continuing to support people after the training is finished, Stewart’s Academy is committed to helping people benefit from their mentoring. One of the trained mentors stated, “Forget the get-rich-quick schemes. If you ever want to make money as a trader, you must learn how not to be scammed.”
In addition, Stewart’s Academy plans to hold more free finance events across the UAE as part of the commitment to ongoing learning. They aim to provide information to residents in the UAE on how to protect their savings and how also to make informed decisions about their finances.
While there are many uncertain promises in the world now, Stewart’s Academy believes that people can achieve financial freedom not by chance but by their knowledge.
For more information or to participate in future sessions, contact Stewarts Academy at info@stewartsacademy.com or visit their website.