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Officials emphasize the importance of properly managing finance and formulating the expenditure plan that is commensurate with personal income
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Abu Dhabi residents have been warned of the danger of excessive borrowing and their negative impact on individuals, families and society. Officials say these dangers may be psychological, social or economic pressure.
Abu Dhabi Judicial Department (ADJD) said excessive borrowing will lead to disintegration and disintegration of family units and may lead to serious improper behavior.
Officials also emphasized the importance of properly managing financial resources and formulating expenditure plans that are commensurate with their income.
As part of the “Majalesna” initiative, the ADJD coordinated with Majalis Abu Dhabi of the Office of Citizenship and Community Affairs of the Presidential Court to organize an awareness-raising session on credit risks, advising against unbridled lending.
The purpose of the lecture is to improve the consciousness, safety and stability of different strata of the country’s society, and spread legal knowledge
In his advocacy talk, Dr. Turki Al Qahtani, ADJD’s Senior Family Advisor, reviewed the impact of reckless borrowing or lending for unnecessary purposes, emphasizing the importance of rationalizing spending to avoid unsustainable credit. He pointed out that these may lead to a spiral rising negative effect on social stability.
Dr. Al Qahtani also explained that social stability depends on the ability to provide basic needs such as goods and services. He advocates a savings culture, effective management of financial resources, and adopting rational consumption habits.
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