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Dec 2021

UAE: Watania joins Souqalmal to take the lead in financial literacy

Source: Middle East Insurance Review | Oct 2021

National Takaful Company (Watania) will provide customers with free access to financial comparison site Souqalmal’s digital financial education platform - MoneyDoctor, the first insurance company in the region to do so.
The move allows the insurer’s clients to enhance their understanding of insurance or takaful products, banking and other financial matters and further reduce fiscal pressures in day-to-day matters.
Customers of Watania will have access to nine different modules online covering financial topics in the UAE. From setting up in the country, to managing one’s debt and buying property, the MoneyDoctor programme provides guidance on different financial and banking matters, thereby empowering its users to optimise their money matters in the UAE and grow their wealth.
According to a 2021 survey by PwC, 63% of respondents claimed their financial stress increased exponentially during the pandemic. Lack of financial understanding and discipline further fuelled this stress – which could have been avoided if residents were prepared for financial uncertainties.
Watania CEO Gautam Datta said, “Those who are financially savvy and have robust financial plans in place, understand insurance and credit products better, have a better appreciation of risk they are exposed to on a day-to-day basis, utilise them optimally and secure their future and thereby lead healthier and stress-free lifestyles.” M 
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