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Abu Dhabi / WAM
The UAE Banks Federation (UBF) announced that it continues its efforts to develop and raise financial awareness of consumers as it helps them not just to have access to financial services but also to take prudent and responsible decisions when it comes to their financial transactions.
While a lack of financial knowledge may lead to financial distress, a comprehensive understanding of financial products and concepts becomes imperative as will empower individuals to make responsible decisions on saving, spending, investment, and achieve economic efficiency by way of balancing costs of borrowing against benefits.
UBF announced the release of a full comprehensive handbook, titled ‘Financial Literacy for Individuals’ in order to provide a strong structure for planning and managing personal finances.
The handbook offers individuals all basics required to make efficient and coherent financial decisions based on four different aspects such as planning, borrowing, saving, and investing.