Though it is the richest country in the world per capita, Qatar is also home to a population mired in debt.
Some 75% of Qataris are currently in debt for spending beyond their means, studies show. This Ramadan, the government is hoping to reduce that rate with a new campaign titled “Debt is Disgraceful.”
The Peninsula reports:
Through this campaign the organisers will warn the society on taking loans for excessive spending for unnecessary matters.
The second phase of the campaign is marketing for the campaign and through this funds will be collected to pay the debts of prisoners and those against whom cases are in courts or those are threatened by imprisonment because of debts…
The period of the debts prevention campaign is from the first of Ramadan until end of December this year, in which the awareness phase will end on first of October and the educational phase will start on October 2. Qatari families will be given priority in this campaign.
What do you guys think? Will financial education help put a dent in Qatar’s consumption culture?