47% UAE Investors Want Banks And Platforms To Drive Financial Literacy, New Report Finds

A recent survey by eToro reveals that 67% of UAE retail investors are satisfied with current financial education resources. However, many desire more comprehensive education and expect financial institutions to lead these efforts.

In a survey involving 1,000 UAE retail investors, nearly half (47%) believe banks and investment platforms should spearhead financial education. Meanwhile, 45% think it is the individual's responsibility. Others feel universities (41%), schools (32%), the media (31%), and family (30%) should play a role.

The data highlights a significant gap in early financial education, with 87% of respondents wishing they had received financial literacy lessons in school. This points to a perceived shortfall in foundational financial knowledge during formative years.

Currently, social media is the primary source for investment information for 40% of respondents. Google searches follow at 34%, and financial courses at 33%. Personal recommendations from friends and family also influence decisions, with 33% relying on them.

Despite ambitious long-term goals like achieving financial independence (40%) and providing long-term security (37%), many UAE retail investors exhibit short-term investment behaviors. While most hold investments for years (35%), a notable portion holds assets for months (33%), weeks (22%), or even days (7%). Less than 3% maintain investments for over a decade.

"The UAE's rapid economic growth has created a dynamic environment for wealth generation," said Jason Hughes, Senior Executive Officer at eToro Middle East. "Having a well-informed investor base is crucial for sustaining this momentum."

The survey found that most UAE retail investors have been investing for five years or less (69%). This limited experience may contribute to their desire for more financial education to align their strategies with their goals better.

"Our findings show that UAE retail investors have ambitious long-term objectives," added Hughes. "Financial institutions have an opportunity to equip investors with the tools and knowledge needed to make informed decisions."

eToro has established the eToro Academy to support this mission. The free platform offers timely and accessible financial content in ten languages, including English and Arabic. It features social elements like a live feed for sharing insights and a demo account for practicing strategies.

"We aim to make financial education available to all," Hughes stated. "Supporting UAE retail investors in achieving their investment goals through our comprehensive resources is part of our commitment."