ICD develops “Smart Financial Transactions Platform”

ICD develops

Jeddah, (UNA-OIC) – Under the slogan of financial inclusion as one of the objectives of the Group of Twenty (G20), the Islamic Corporation for the Development of the Private Sector (ICD), a member of the Islamic Development Bank Group (IsDB), is developing the “Smart Financial Transactions Platform.” 
The two main objectives of the Platform are: raising awareness amongst women and the youth regarding the importance of financial education; and motivating the targeted group to practice healthy financial habits which are necessary to make smart financial decisions in several aspects; such as: setting financial goals, financial planning, preparing monthly budgets, saving and borrowing money, diversifying investments, overcoming debts, and avoiding falling prey to the trap of fraud, financial fraud or financial crimes.
To achieve these goals, ICD is working on organizing financial education events and competitions, which are to be launched in the first week of October 2020, with the aim of reaching the largest possible number of young people aged between 18 and 26. It is to be noted that the results of these events will be included in the IsDBG reports for the Group of Twenty in relation to the goals of “financial inclusion”, as well as the indicators of the Kingdom of Saudi Arabia Vision 2030 related to raising the general level of financial education and saving rates among adults.

On this occasion, the CEO of ICD, Mr. Ayman Amin Sejiny, declared: “This program will contribute to raising financial awareness, especially in the area of financial planning. It will also improve purchasing habits, the pattern of continuous savings, as well as making sound financial decisions, which will help develop the economy and contribute to the prosperity of individuals’ lives.”

On his part, the Director of the ICD Effectiveness Development Department, Dr. Mohammed bin Saeed Al-Yami, affirmed that the program has large developmental dimensions that help the targeted group make smart and sound financial decisions and shift from the concept of borrowing to the concept of saving. It also helps in developing personal wealth, especially for the post-retirement period.

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