This event is by physical attendance.
Session 2 - The Imperative of Rolling out Financial Literacy
It’s increasingly proven that financial literacy is critical, yet a missing life skill in our 21st century lives. At the formal level, a socio-economic policy framework is needed to enhance financial literacy and society’s financial resilience. At the individual level, we need to help people build their future and be money smart, especially through times of hardship. We need to “reframe” life success through financial literacy.
Session 3 - Regulation or Education – the Case for Developing Financial Education
What should be the proper role of law among other factors involved in promoting consumers financial knowledge? Are people protected by regulatory measures, or by economic education and information. Another issue that merits discussion is whether to provide ex ante or ex post protection. Information obligations exist before, during and after concluding a financial contract. If a big part of people’s financial decisions and protection comes from financial education, how should we further develop financial education in our schools and beyond?
Session 4 - Reconciling the Suppliers-Consumers Banking/ Financial Relationship
Individuals with a good basic knowledge of economics and finance can make more informed decisions as they engage in deals with banking and financial institutions. Such knowledge also includes how to access regulators’ consumer protection when needed. That’s certainly to their benefit and to the benefit of the entire economy. Not only can they manage their personal finance and their households more effectively, but they can also be more productive members of society. They can be better citizens, capable of making reasoned judgments on public policy issues. Enhancing financial capability supports an already agreed-upon objective of increasing access to basic banking services among underserved populations.
Session 5 - Responsible Lending and Borrowing - Preventing Over-Indebtedness
Consumer’s trust in banks is an important dimension of his financial capability. The social responsibility of banks has been expressed in the concept of responsible lending and borrowing. Unethical lending takes place where the consumer does not have the capacity to repay without substantial hardship, or the creditor imposes excessive and unacceptably high costs or unfair contract terms. Consumer credit includes all activities that bring people into debt through commercial offers, irrespective of whether this is done in the form of loans, deferred payments, leasing, rent or any other legal form, and irrespective of whether payments are called interest or fees. While increased commercialisation and competition among lenders are likely to increase access for an increasing number of people to financial services, there is also a higher risk of having vulnerable borrowers becoming exposed to potentially abusive lenders. This session is also about managing one’s loans and debts.
Session 6 - Making Informed Decisions – Using a Financial Decisions Simulator
Financial literacy may be defined as the ability to make informed judgments and to take effective decisions regarding the use and management of money. It is a multi-dimensional concept, which requires both breadth and depth of knowledge. It’s about the individual’s financial knowledge and understanding, his financial skills and competence, and his financial responsibility. How complex can this be, and how behavioural economics play out in this context? A live simulator model will be presented.
Session 7 - Household Risks, Insurance Knowledge and Financial Security
To what extent do individuals and families understand risks around their daily lives? If risk understanding and risk management are part of financial literacy and financial success, what are the basic concepts and minimum measures a household should take when it comes to insurance? How can risk management enhance households’ financial security?
Session 8 - Fintech - Financial Inclusion & Empowerment
Fintech apps, whether for payment, banking, investing or tracking daily spending, are starting to change people’s attitude towards managing their money. Clients are appreciating being able to keep tabs on their money in real time. They can send and receive money, set savings goals, check how they are spending, allocate money to different accounts and monitor their spending styles. The landscape will further diversify as new propositions become increasingly popular with customers demanding digital-first solutions. Digital challengers have been steadily taking customers away from incumbent institutions for a few years. These digital tools offer a fresh approach to managing money. The question is how can we make a paradigm shift in accelerating the adoption of these tools across the Arab countries, especial among the informal sectors?
Session 9 - Inflation, Interest Rates, Risks & Returns – How Much Households Need to Understand When Investing?
What’re the local and global economies looking like today? How do individuals currently choose between stocks, bank deposits, retail bonds, REITs, life policies, mutual funds, ETFs and money market instruments? What are the characteristics of the ideal vehicles for household savings and investments? And how should those vehicles perform in terms of growth, safety and adequacy to their life journey?
Session 10 - Creating a Financial Plan that Works for You
How households can drive their finances and leverage a growth mindset to build their future success. What are the key principles of portfolio construction and management, including asset allocation, portfolio risk levels and governance, and how combining with factors you can control, such as reducing management costs, builds a more robust long-term financial plan?
Session 11 - Financial Empowerment for the Informal Sectors
Farmers, fishermen, delivery staff and similar sectors and jobs represent a large population of the local economy. How can banking and finance providers adapt their offerings to support the special needs and wants of these groups. And on the other hand, how much the informal sectors understand about the possibilities and growth opportunities offered by the different banks operating in local markets.