Fintech Robos, the Bahrain-based provider of digital solutions for savings and investments, has signed a partnership for global financial literacy advocacy with the Dutch NGO, Aflatoun International.

 

The partnership was announced at the opening of the 3rd Arab Savings & Financial Literacy Conference 2023 in Cairo, by the founder and CEO of Fintech Robos, Ebrahim K Ebrahim, and Aflatoun’s Mena Programme Manager, Mozna Abumery.

 

The partnership will see the two parties working closely on advocacy and communications for financial education, promotion of curriculum and training materials, conducting research and surveys, and organising specialised workshops and conferences.

 

Financial education

“We are pleased to see growing partnerships in engaging with stakeholders in the Mena region for financial education and related products, and we will work together to advocate for financial literacy and education. There is no doubt that financial inclusion plays a key role in empowering communities in this connected world" said Abumery.

 

Ebrahim said people in Middle East and North Africa (Mena) generally lack the savings culture or personal finance skills that build long-term financial resilience.

 

“It all boils down to a very low level of financial literacy in the region,” said Ebrahim, adding that the cost-of-living difficulties faced in many parts of the world have emphasised the importance of financial literacy, especially as the gap between the financially resilient and the financially fragile widens.”

 

He pointed out that it is now recognised that poor financial skills have left many households unprepared to face crises and their consequences.--TradeArabia News Service