BRAC UK & Citi Launch Report on Financial Education Needs & Opportunities in the London Borough of Tower Hamlets

BRAC UK
BRAC UK is an international development organization. Founded and registered as a charity in London during 2006 it is a member of the expanding federation of BRAC. The organizations share a common mission, ethos and collegial relationship. Our mission is the alleviation of poverty and empowerment of the poor in the UK, Africa, Asia and Latin America. BRAC UKs goal is to uphold their human rights and dignity: To break the barriers of poverty through economic development; to increase their opportunities for education; to improve their health; and to uphold their human rights.

Citi
Citi, the leading global financial services company, has some 200 million customer accounts and does business in more than 100 countries, providing consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, and wealth management. Citi's major brand names include Citibank, CitiFinancial, Primerica, Smith Barney, and Banamex. Additional information may be found at www.citigroup.com or www.citi.com.

Citi Foundation
The Citi Foundation is committed to enhancing economic opportunities for underserved individuals and families in the communities where we work throughout the world. Globally, the Citi Foundation is focusing its giving on Microfinance and Microentrepreneurship, which helps individuals become economically self-sufficient; Small and Growing Businesses leading to economic expansion and job creation; Education, which prepares young people for personal and professional success; Financial Education, which helps individuals make informed financial decisions; and the Environment with a focus on sustainable enterprises that generate jobs and stimulate economic growth while preserving the environment. In the U.S. and Canada, the Citi Foundation supports Community Development programs that help build and revitalize neighborhoods and Education programs that prepare students for college and careers. Additional information can be found at http://www.citigroupfoundation.org/.


	Printer Friendly Page		FOR IMMEDIATE RELEASE Citigroup Inc. (NYSE: C) January 21, 2008 BRAC UK & Citi Launch Report on Financial Education Needs & Opportunities in the London Borough of Tower Hamlets A new report produced by BRAC UK and financed by the Citi Foundation found that British-Bangladeshi women and young people living in Tower Hamlets lack educational and employment opportunities. Based on the results of the survey, the Citi Foundation is launching a grant designed to increase the opportunities for this community. The report is entitled "Assessment of the Financial Education Needs and Opportunities of British-Bangladeshi Women and Young People in Tower Hamlets." It was presented at an event at Citigroup Center, London, on January 21. The study involved 200 British-Bangladeshi women and 100 young people living in Tower Hamlets. It found that 51% of the respondents, mostly women, have no formal education, difficulty with the English language and 71.3% are unemployed. These hurdles prevent them from accessing the job market, social services and participating in community activities. Further findings include: Strong family resistance is one of the main reasons for the non-involvement of women in work and further education. Men need to be motivated to broaden their attitude towards women and their role and responsibility in the family and society. Women want training in parenting and career development skills. The concept of financial education is relatively unknown, but both women and young people are willing to receive such training. Women interviewed emphasized the need for improved housing, which would have a positive impact on their children's education and the general health of their families. Young people are frustrated with their families and society at large. They feel that they were not receiving proper guidance or support from their parents regarding education, physical and mental health. They want more employment opportunities. People want more and better ways to transfer money so that they could access more competitive rates when transferring money to Bangladesh. Further studies should be undertaken with regard to the effects of the current housing conditions on the health and social life of British-Bangladeshis in Tower Hamlets. Additionally, further research should be undertaken on the challenges facing young people for continuing education and employment. On the back of the findings, the Citi Foundation is funding a program, designed by BRAC, to reach women and young people in Tower Hamlets. The program which will be delivered in the next 12 months, involves a series of financial education workshops and one-to-one sessions with young people and women to help them achieve their financial goals. This grant will reach 1,500 individuals, with another 3,000 benefiting indirectly. This is the latest instance in a longstanding history of collaboration between Citi and BRAC on such important initiatives. # # # BRAC UK BRAC UK is an international development organization. Founded and registered as a charity in London during 2006 it is a member of the expanding federation of BRAC. The organizations share a common mission, ethos and collegial relationship. Our mission is the alleviation of poverty and empowerment of the poor in the UK, Africa, Asia and Latin America. BRAC UKs goal is to uphold their human rights and dignity: To break the barriers of poverty through economic development; to increase their opportunities for education; to improve their health; and to uphold their human rights. Citi Citi, the leading global financial services company, has some 200 million customer accounts and does business in more than 100 countries, providing consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, and wealth management. Citi's major brand names include Citibank, CitiFinancial, Primerica, Smith Barney, and Banamex. Additional information may be found at www.citigroup.com or www.citi.com. Citi Foundation The Citi Foundation is committed to enhancing economic opportunities for underserved individuals and families in the communities where we work throughout the world. Globally, the Citi Foundation is focusing its giving on Microfinance and Microentrepreneurship, which helps individuals become economically self-sufficient; Small and Growing Businesses leading to economic expansion and job creation; Education, which prepares young people for personal and professional success; Financial Education, which helps individuals make informed financial decisions; and the Environment with a focus on sustainable enterprises that generate jobs and stimulate economic growth while preserving the environment. In the U.S. and Canada, the Citi Foundation supports Community Development programs that help build and revitalize neighborhoods and Education programs that prepare students for college and careers. Additional information can be found at http://www.citigroupfoundation.org/.