Abdolreza Asgarkhani emphasized the importance of strengthening economic resilience in communities, especially in developing countries, during the 'Economic and Social Resilience' meeting held at the Research Center of the Islamic Consultative Assembly. He stated that strengthening resilience should be pursued in accordance with the economic conditions and priorities of each community.
The Importance of Informed Decision-Making
Asgarkhani pointed to the necessity of informed decision-making in the economic sphere and said: "Individuals do not always make decisions based on complete information and precise economic calculations; therefore, the quality of information and their awareness of market conditions can significantly impact their financial choices and asset management."
This economic activist criticized definitive recommendations regarding the buying and selling of assets in short time frames, adding: "One cannot make economic decisions solely based on short-term predictions about the market. Individuals should make decisions about buying or selling assets based on their understanding of conditions and assessment of risks and their financial capabilities."
Financial Literacy and Financial Fitness
Asgarkhani also deemed it essential to follow up on economic promises and assess their realization. He emphasized that there needs to be a mechanism for recording the economic promises of agencies and reviewing their fulfillment within the specified timeframe. According to him, "Financial management should be tailored to each individual's situation, and constant comparison of the amount of assets and lifestyles of individuals with each other is not a suitable criterion for evaluating economic success."
He introduced the concept of "financial fitness" and clarified: "The goal of financial management should be to achieve a balance between income, expenses, savings, and household needs. Awareness of saving methods and understanding various tools for preserving asset value can also be effective in individuals' economic planning."
Asgarkhani also referred to the importance of proactive resilience and said: "Planning should be done before a crisis to reduce the vulnerability of households and strengthen economic capacities." He also mentioned the tokenization of valuable assets and added: "Converting rights related to assets such as gold and real estate into digital units can facilitate the use of new methods for managing and exchanging assets."
This economic activist concluded by emphasizing the necessity of simultaneously focusing on financial literacy, appropriate asset management, evaluating economic promises, and exploring innovative solutions in the field of valuable assets, considering these topics as significant aspects in strengthening the economic resilience of society.
