Doha, October 19 (QNA) - Qatar Development Bank (QDB) has announced the launch of its Financial Literacy Program, a leading national initiative designed to empower Qatari individuals, entrepreneurs, and businesses. The program equips participants with the financial knowledge and skills to make informed, sustainable decisions, ensuring the long-term success of their ventures in a rapidly evolving economic landscape.
The initiative aligns with the bank's ongoing efforts to support Qatar's economic diversification strategy, promote financial inclusion, and contribute to building a knowledge-based economy in line with Qatar National Vision 2030 and the Third Financial Sector Strategic Plan.
Financial literacy is crucial to ensuring Qatar's balanced economic development. The launch of the program responds directly to the growing need for individuals and businesses to gain a better understanding of the financial system and how to effectively navigate banking products. A QDB survey study found that 65 percent of SMEs view a lack of financial literacy as a major challenge, while 12 percent of these companies lack the knowledge necessary to select appropriate banking products, limiting their ability to fully leverage available financial services and products.
The program seeks to enhance participants' skills in financial planning, budget management, and cash flow management. This, in turn, will support their financial stability and capacity for growth.
Hosted on QDB's Reyada Academy, the program features an interactive format that is available free of charge and accessible 24/7, ensuring broad reach across all segments of society. Entrepreneurs, aspiring professionals and individuals seeking to improve their financial skills, as well as students and young professionals can all benefit. The program is built on five pillars, covering basic financial concepts, budgeting and financial planning, understanding financial statements, and promoting responsible financial behavior. It also emphasizes the importance of avoiding excessive borrowing and building financial stability and discipline. Participants will receive a certificate of completion at the end of the program.
QDB's Senior Manager of SME Development Services Hala bint Ali Al Misnad, emphasized that the initiative goes beyond raising awareness, representing a strategic investment in Qatar's human capital. She stated: "We view financial literacy as a cornerstone of economic success. It's an essential requirement for making sound decisions. From this perspective, the program was designed to offer a new way of thinking about the relationship between entrepreneurs and money, whether at the transactional level or in terms of behavior, decision-making, and the ability to assess opportunities and challenges effectively. The program also reflects our national ambition to promote financial literacy across all segments of society."
The initiative underscores QDB's leadership role as a key driver of economic development in the country. The bank remains committed to promoting financial literacy and providing integrated solutions that combine innovation, financing, and advisory support to help build a more resilient, capable, and sustainable business community. (QNA)