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Financial awareness

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1Financial awareness Empty Financial awareness on Wed Dec 25, 2019 7:22 pm

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Financial awareness

Wednesday, December 25, 2019 72
Dr.. In the name of Brahimi


The issue of financial awareness and education is of great importance in many countries of the world,

especially after studying the causes of the global financial crisis in 2008, which showed that one of the main reasons for the outbreak of the crisis is the low levels of awareness and financial culture among investors entering the markets Finance.

In light of the growth of contemporary economies, especially in the last four decades, the global scene witnessed fundamental developments in all aspects of the financial sector,

and the pace of financial services provided in various forms and mechanisms for providing them and the spread of their uses in addition to measures to facilitate access to them accelerated,

as this requires knowledge and a financial culture higher than Before and its ability to manage the risks of using traditional and developed financial services and products,

here appears the role of financial awareness and education aimed at creating an economically and financially informed generation who has the ability to plan, set goals and strive to achieve them.

International experiences indicate that improving the quality of financial services and expanding the reach of individuals and institutions to them work to spread equality in opportunities and benefit from the potentials in the economy, and in return we conclude that the market mechanism is not fully able to deliver financial products and services to the poor and families with low incomes, especially Residents of remote areas of them,

and here the role of the various governmental and private sectors and civil society institutions is highlighted in the need to adopt incentive policies for financial service providers to deliver their products and services to all segments and regions without discrimination,

as well Highlighted the need for the need to implement awareness campaigns and targeted financial education to attract and encourage vulnerable groups to use financial services products that meet their needs in order to improve their Living.

In the same context, the role of the educational sector must be strengthened in establishing the principles of financial awareness, and work to create a conscious generation capable of managing funds with the best tools and methods and with low levels of risk exposure to use the available financial products and services, thus achieving equality and justice in the economic and social welfare of Genders.

Here, it is necessary to refer to the experience of some countries that have introduced financial literacy within educational curricula and in different stages; given its importance in promoting economic growth by empowering individuals financially,

it is an experience that we should benefit from to facilitate financial transactions and reduce unemployment in Iraq.

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