Getting aware of the pitfalls that can happen, and knowing how to avoid them.
“I’ve witnessed a lady lose nine million rupees, and nothing could be done about it!” My bank manager Umer Malik mentioned. Immediately, I decided to learn more about this. The remark made me realize how vital it is for us to learn about the pitfalls during financial deals.
While this blog post is important for everyone, but more so for my fair readers! First, most of us women, are not given any financial stability with the men in our lives holding all the strings to finances in our lives. All the legalities are written and interpreted by the male members of our society to their own advantage. Making sure women are kept in the dark and at the greatest disadvantage in almost every situation.
Added to that is the female attitude…. “Why should I bother my pretty little head with these boring facts and figures? When I have enough on my hands, having to maintain my own figure!” She goes on to say to her dearly beloved… “You are there to deal with these things. I trust you.” Then, he goes on to die on her, or change with the changing times, and whispers from his family and friends….. Suddenly, she is all alone to fend for herself in this cruel nasty world. And she has only herself to blame for trusting the men in her life. They are human. They can make mistakes, why so, at your cost?
Secondly, when a woman does have financial control over her assets, she does not know how to hold on to these, how to invest it wisely or how to make it grow, in a halaal way. So, it was painful for me to hear how this woman actually lost ninety lacs and nothing could be done to help her. (One lac is $1000, so this lady lost $90,000)
How not to get swindled? This can only happen when we (and that includes the men too) take the time and make the effort to learn all we can about handling our finances in a mature way.
So, I asked my bank manager Umer Malik of Bank Alfalah, in E-11, Islamabad, if he could spare some time, and I could interview him.
Continue reading “Let us get financial acumen.”