Qatar Development Bank (QDB) has launched a new national Financial Literacy Program aimed at equipping Qatari individuals, entrepreneurs, and businesses with essential financial knowledge and skills. The initiative, hosted on QDB’s Reyada Academy platform, is designed to help participants make informed and sustainable financial decisions, bolstering the long-term success of their ventures within Qatar’s evolving economy.
Addressing a Critical SME Challenge
The launch of the program directly addresses a significant gap identified within the local business community. According to a survey conducted by QDB, 65% of Small and Medium-sized Enterprises (SMEs) view a lack of financial literacy as a major operational challenge. The study also found that 12% of these companies lack the necessary knowledge to select appropriate banking products, which limits their ability to leverage available financial services for growth. This initiative aims to enhance skills in financial planning, budget management, and cash flow management to improve financial stability and growth capacity.
An Accessible and Comprehensive Curriculum
Hosted on QDB’s Reyada Academy, the program is available free of charge and is accessible 24/7 to ensure broad reach across all segments of society, including entrepreneurs, students, and aspiring professionals. The curriculum is built on five core pillars covering basic financial concepts, budgeting, understanding financial statements, and promoting responsible financial behavior. It also emphasizes the importance of avoiding excessive borrowing while building financial discipline. Upon finishing the program, participants will receive a certificate of completion.
A Strategic Investment in Qatar’s Future
This initiative is a key part of QDB’s broader strategy to support Qatar’s economic diversification, promote financial inclusion, and build a knowledge-based economy in line with the Qatar National Vision 2030 and the Third Financial Sector Strategic Plan. Hala bint Ali Al Misnad, QDB’s Senior Manager of SME Development Services, emphasized that the program is a strategic investment in the nation’s human capital. “We view financial literacy as a cornerstone of economic success,” she stated. “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.”
About Qatar Development Bank
Established in 1997, Qatar Development Bank is a government-affiliated development institution focused on strengthening the national business landscape and driving the economic diversification of the private sector in Qatar. QDB’s strategy is aligned with Qatar National Vision 2030, with a focus on promoting innovation, developing local businesses through financial and advisory support, and enabling the export ecosystem to enhance the competitiveness of Qatari products in global markets.
Source: Zawya
