Dignitaries pose for the photograph after the sensitisation lecture titled 'Risks of Borrowing' in Al Ain. WAM
The lecture was organised under the "Majalesna" initiative, which was launched by the Judicial Department in implementation of the directives of Sheikh Mansour Bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs, and Chairman of Abu Dhabi Judicial Department.
In his sensitisation lecture hosted by Majlis Zakher in Al Ain, Dr Turki Al Qahtani, Senior Family Counsellor at the ADJD, addressed several points, including the effects of unbridled borrowing on individuals, explaining the reasons for borrowing and the characteristics and motivations of consumer loans, stressing the importance of money in people's lives and financial management skills, and its impact on the stability of the family.
Dr Al Qahtani also explained that social stability depends on the ability to provide for basic needs in terms of goods and services, as the economic dimension has a clear impact on the perception of security and psychological stability, in addition to securing the health aspects of the family and satisfying all the needs of its members, which requires good resource management and spending plans proportionate to income.
Speaking about the specific nature of consumer loans, the lecturer said that they are intended primarily for consumption and not for production, and that they exceed the financial capacity of the individual, in addition to being linked to ephemeral social expenditures. This type of loan is motivated by the need to cover the difference between a low or limited income and increasing expenses, he said.
Warning of the dangers of consumer credit, the family counsellor outlined the impact of uncontrolled borrowing on the individual, family and society, and the psychological, social or economic pressures it causes and which can ultimately lead to financial devastation, family disintegration and corruption.
Abu Dhabi: A delegation from the Abu Dhabi Department of Energy (DoE), headed by Chairman Engineer Awaidha Al Marar, is visiting Japan this week to share the Emirate’s experience in developing the energy sector and to exchange expertise with Japanese energy ministries and organisations. During the visit, the DoE delegation will place
China’s central bank (CB) offered medium-term loans to financial institutions on Tuesday in an attempt to get more affordable funds to struggling smaller firms, as it steps up efforts to support a slowing economy.
The International Monetary Fund Executive board approved a three-year, $6 billion loan package for Pakistan on Wednesday to rein in mounting debts and stave off a looming balance of payments crisis, in exchange for tough austerity measures.
Microsoft took a significant step in its support of digital transformation across the Middle East, as it launched two new cloud regions in the UAE on Wednesday. These new regions – Microsoft’s first in the Middle East – will empower customers and partners to embrace the benefits of the Fourth Industrial
The Ministry stressed in a statement on Tuesday that its aim to continue expanding the scope of testing nationwide to facilitate the early detection of coronavirus cases and carry out the necessary treatment.
Heavy fighting was reported in frontline towns near the eastern city of Donetsk, where Ukrainian officials said Russian troops were launching waves of attacks as they try to seize control of the industrialised Donbas region.
The Israeli military said a senior militant commander was among the dead. The latest violence comes two days after deadly fighting between Israel and Islamic Jihad in the coastal enclave of Gaza was halted by a truce.
The unprecedented search of a former president's home would mark a significant escalation into the records investigation, which is one of several probes Trump is facing from his time in office and in private business.