Financial awareness key to sustainable growth, say IGCF experts

September 10, 2025 / 10:16 PM

Sharjah 24: Financial literacy is no longer limited to budgeting or investment strategies—it has become a foundational pillar for sustainable societies and a vital safeguard against economic risks. This was the key message from senior UAE officials during a panel session at the 14th International Government Communication Forum (IGCF 2025), titled “Raising Financial Awareness for a Sustainable Tomorrow: How Can Government Communication Have an Impact on Society?”, organised by the UAE Ministry of Finance.

UAE Ministry of Finance: Communication is key to financial protection

Azza Al Jasmi, Director of Government Communication at the UAE Ministry of Finance, emphasized the importance of updating public education to match evolving financial realities.

“Enhancing financial awareness among individuals has become paramount in achieving financial protection, and this is where the role of government communication emerges,” she said.

She cited recent initiatives such as the introduction of corporate tax, where coordinated efforts with chambers of commerce and the private sector ensured clear and accessible messaging. Al Jasmi stressed that such partnerships are crucial in spreading knowledge, mitigating risks, and supporting long-term financial sustainability.

Combating financial crime through coordinated communication

Mohamed Shalo, Director of Communications and Strategic Partnerships at the UAE’s National Anti-Money Laundering and Combatting Financing of Terrorism and Illegal Organisations, echoed the importance of partnerships.

“Partnerships are the cornerstone of the country's financial philosophy,” he noted. “But that doesn’t negate the fact that some actors attempt to exploit the UAE’s economic openness for illegal practices.”

He highlighted how over 80 federal and local entities—alongside major banks, gold traders, and research centres—are working under national leadership to shield the country’s financial system. Awareness campaigns, he said, have been effective by avoiding technical jargon and using simple language across multiple communities. Targeted outreach in the gold sector was cited as a success story.

However, Shalo also warned of new digital threats, especially those posed by artificial intelligence, describing AI as “a double-edged sword.” He suggested that more specialised training is needed and recommended the inclusion of financial media courses at universities.

Dubai’s digital finance shift: A case study in public awareness

Husain Alteneiji, Director of Government Communication at Dubai's Department of Finance, shared how Dubai leveraged communication to transform financial behaviours.

“The department recognised early on the importance of enhancing community awareness of digital financial transactions,” he said.

He cited campaigns like Month of Smart Pay, Day Without Service Centres, and Week of Payment via Technology as key drivers behind the shift. Today, he revealed, 97% of government financial transactions in Dubai are completed digitally.

Despite this success, Alteneiji cautioned that the work is far from over. “We are continuing to address this challenge, which has not yet ended. Greater cooperation with media, research, and academic institutions is essential if we are to keep pace,” he said.

Communication as a driver of resilience and inclusion

As the IGCF 2025 hosts more than 237 speakers across 51 sessions, this panel on financial literacy underscored a recurring theme: Communication that is clear, inclusive, and educational is no longer a secondary function of governance—it is a central force driving resilience, public trust, and societal safety.