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Manama— Bahrain: An impressive line-up of 20 global and local experts will be speaking in the MENA region’s first household savings conference, to be held in Bahrain later this month (25th and 26th of May).
Tackling a wide range of issues from financial literacy and financial education to financial inclusion and behaviourial finance, the event has attracted some of the world’s top-notch research centres, organisations and financial providers that are active in this space.
The Global Financial Literacy Excellence Centre “GFLEC” of the George Washington University, the OECD’s financial education department, Amundi’s savings and retirement team, SSGA’s Macro Research Department, Bahrain Bourse, BIBF’s Centre for Banking & Finance, AXA, SICO Bank, BisB, Bahrain National Life, Bahrain Economists Society, Egypt’s National Company for Asset Management & Investment, and FNZ global wealth management platform are among key speakers in the Arab Household Conference 2021. Registration to the event is open at: https://fintechrobos.com/Events.
The economics of long-term savings for households, its significance for financial resilience, personal finance skills, the right vehicles for household savings and building up assets across the MENA region, and insights on how the world’s best savings countries save for the long-term are some of the topics to be discussed in the event, which is organised by Fintech Robos, the Bahrain-based providers of savings and pensions technology.
“One third of people in MENA do not save any money; two thirds of people do not save enough or regularly, and close to 80% of people say they don’t feel confident about their financial future,” said Ebrahim K Ebrahim, CEO of Fintech Robos.
He says there’s a direct relationship between household savings ratios and healthy economy, and between household savings ratios and future social security. “If savings is key to a healthy economy, then it must be reasonably high and sustainable, if any region is to fulfill its potential for higher real income and greater standard of living,” he pointed out.
Ebrahim elaborated that the main purpose of organising this first-of-its-kind conference in the region is to create a rich debate and information-sharing platform on the significance of long-term savings for household financial resilience. It’s also to increase awareness on both the need-to-save, as well as, knowledge around savings solutions offered by the financial industry, and global innovation in this space.
“Simply put, we aim to build better stakeholder awareness and place long-term savings and household financial resilience on the agenda for all those concerned,” he said.
The conference is also designed to provide a holistic assessment of the landscape of household savings products, characteristics of ideal savings vehicles, and solutions of incumbent institutions vs. solutions offered by the new wave of digital challengers.