The program was written and presented by the Arab Economic Forum
April 2023
foreword
Financial education is one of the tools available today for assimilating the need for more correct and wiser financial conduct among the general public. The tools of financial education, together with public-biased regulation and the mobilization of elected officials and business entities, may and can improve the economic situation and quality of life of many citizens. This document is submitted as a proposal to implement a financial education tool among the citizens of the State of Israel living in Arab society. The tools that will be learned in accordance with this proposal may and are expected to help learners acquire skills and habits for the correct use of money and for making better financial decisions.
Leading the program
The program will be managed by the Arab Economic Forum, an independent and non-profit center for socio-economic policy research. The forum is intended for researching socio-economic issues, and conducting applied studies and policy studies in the fields of economy and society, with the aim of leading to a fundamental change in the socio-economic status of the Palestinian Arab society in Israel.
The forum is an independent body from a financial and administrative point of view, and has no party or sectarian affiliation. It operates under the supervision of a board of trustees that consists of academics and recognized public figures from Israel and abroad. The board of trustees determines the center’s research policy, approves its plans and budget, and supervises the implementation of the plans. The center is managed on an ongoing basis by Dr. Sami Miyari by the Board of Trustees, and its work is supervised by an independent auditor who is also appointed by the Board of Trustees.
The forum’s vision is equal opportunities for the entire Arab society in Israel in all areas of life, fully integrated into imparting the values of financial education to the Arab population in Israel.
chapter one
Background
Financial education is a process in which consumers improve their understanding of financial products and principles by which financial markets operate. Financial education develops skill and self-confidence to make informed decisions, to recognize the need for professional assistance and to know where to turn for that purpose. Financial education increases the knowledge and awareness needed to properly deal with the financial markets out of the individual’s need to accept broad and significant responsibility for the management of their financial affairs.
Financial education is appropriate for different ages depending on the circle of life they are in – from young ages where the foundation for proper financial conduct is laid, to older ages where financial decisions translate directly to the quality of life of the individual and his family.
Increasing awareness of the values of financial education among parents of children and teenagers is expected to improve the quality of life of the family unit. Developing awareness of opportunities and on the other hand of risks, the importance of wise consumerism, comparing prices, delaying gratification and dealing with the culture of abundance, are just some of the benefits of financial education.
Assimilation of financial education values among families will enable the acquisition of correct habits and tools to deal with different situations in order to make wiser decisions in the economic-financial field. For example, imparting knowledge, skills and values that will inculcate correct behavioral values for wise and informed consumers for saving and investing throughout their lives.
The vision
Parents in Arab society have tools and financial knowledge that enable them to make informed decisions that improve the quality of life.
Acre:
Turan:
Tamra:
Ein Hod:
