Religious officials underlined the importance of being financially prepared for old age by making new initiatives to change attitudes in financial management.
“The steps include reviewing and reorganising personal finances, avoiding the habit of incurring debt and practising the habit of saving,” Imams said in the Friday sermon yesterday.
“Through saving, a person’s economy will be more organised and planned, helps in the preparation of emergencies, can be used in investments and business capital, financial security for old age or retirement and enables one to perform the worship of Allah the Almighty such as performing the Haj.
“We should inculcate the culture of saving by not spending beyond our means and not to overspend, which is highly recommended in Islam. We should balance our expenses between not being stingy and not overspending,” Imams said.
“We should also be wise in spending in accordance with the teachings of Islam, to strengthen the household, community and nation’s economy for our future. Let us pray for abundant sustenance and everlasting blessing for our happiness in the worldly affairs and in the days of hereafter.”
Imams also highlighted the new National Retirement Scheme (SPK) is intended to address key challenges of retirement, provide sustainable retirement and is inclusive for employees in the Sultanate.