Business Education: Key for Achieving Financial Inclusion in Palestine

Abstract

Financial education is the process of building knowledge, skills and attitudes to become financially literate. It is meant to educate people on good money management practices with respect to earning, spending, saving, borrowing, and investing. Financial education is meant to enable people to shift from reactive to proactive decision-making and work towards fulfilling their financial goals. By broadening people’s understanding of financial options and principles, financial education builds skills to use financial products and services, and promotes attitudes and behaviors that support more effective use of scarce financial resources. Financial education builds skills to use financial products and services, and promotes attitudes and behaviors that support more effective use of scarce financial resources and financial inclusion. The results of this work show that low levels of financial inclusion are associated with lower levels of financial literacy. Recent research permitted to identify various ways in which policy makers are developing financial education policies for financial inclusion.