Doha: Under the patronage of HE Minister of Social Development and Family Maryam bint Ali bin Nasser Al Misnad, and in celebration of the International Youth Day, the Social Development Center (Nama) organized a seminar on financial culture: consumption, saving, and investment as part of the financial awareness project ‘Aazim’ Nama, is one of the Ministry of Social Development and Family (MSDF)’s Qatar Foundation for Social Work’s centers.
The 1st session of the seminar dealt with consumption culture in Islamic Law and Behavioral Psychology, during which Ministry of Endowments (Awqaf) and Islamic Affairs preacher Shaker Al Shahwani discussed the concept of consumption from an Islamic perspective and dealt with related ethical principle, whereas, Director of Family Research and Policy at the Doha International Family Institute (DIFI) Dr. Khalid Al Nama discussed the impact of psychological marketing on consumption, its impacts on shaping consumption behaviors, strategies to reduce the negative impact of marke
ting, and balancing between profit and social responsibility.
The 2nd session handled the topic of financial intelligence: savings and investment, presented by Professor of Public Finance at Qatar University’s College of Business and Economics Dr. Mahfoodh Al Saadi who discussed the concept of saving, historical saving practices and ways to benefit from them currently, in addition to the relationship between savings and financial security, and modern savings methods.
For his part, Professor at Qatar University’s College of Business and Economics Hitmi Al Hitmi discussed the concept of investment, its principles, and types, as well as talking about investment locally, how to develop an investor mindset, and common investor mistakes.
In this context, director of the technical office at MSDF Talal Al Emadi said that the financial awareness project ‘Aazim’ aims to enhance Qatari youth’s financial awareness and guide them towards making sustainable financial decisions based on responsible saving and investing,
providing them with the knowledge and tools to build a stable financial future for themselves and their families.
This seminar falls under Aazim’s strategic initiatives which promote the importance of optimal financial planning to Qatari families and youth, raising community awareness of the significance of balancing between consumption, saving, and investing, in addition to avoiding falling into debt in the pursuit of luxuries.
The project contributes to fulfilling the Qatar National Vision 2030 towards building a sustainable and financially aware society.
Source: Qatar News Agency