Assessing the Influence of Financial Literacy on Strategic Success of the Financial Services Authority (FSA) in Realizing Oman Vision 2040 Goals

Authors: Suad Mubarak Alsinani

Country: Oman

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Abstract: This research aims at establishing the significance of financial literacy in enhancing financial inclusion and the operational effectiveness of financial programs in Oman with a biased entirely on the Financial Services Authority (FSA). Based on theoretical paradigms such as Behavioral Finance, Financial Inclusion, Human Capital theories, it assesses existing forms and consequences of financial literacy on the outcomes of strategic management activities. Carrying out a quantitative study approach, data was obtained by administering structured questionnaires to various demographic groups. The use of regression and correlation methods showed positive trends in the correlations between financial literacy and financial services, risk management and economic stability. With specific reference to several studies, key findings relate to the level of financial literacy amongst various users, as well as the importance of improving senior citizens’ and young people digitally and gender-sensitive financial capability. The work is useful to policymakers, as it shows how improving financial literacy aligns with Oman’s Vision 2040 for sustainable development and provides practical suggestions to financial institutions and other interested parties.

Keywords: financial inclusion, financial literacy, Financial Services Authority, Oman financial program

Paper Id: 232019

Published On: 2025-01-24

Published In: Volume 13, Issue 1, January-February 2025

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