Qarsh: Arabic Financial Management Application for Adults and Children

Financial literacy is essential for individuals to manage their finances and achieve their goals effectively. We surveyed 328 participants across different age groups in Saudi Arabia and found that although 23% of respondents do not save money, a staggering 99% recognize the importance of saving. This suggests that individuals struggle to prioritize their financial goals and track expenses. One significant factor may be the need for improved financial awareness among young adults and children under 16, as developing good financial habits at a young age is crucial for future financial well-being. In response to these challenges, we propose the Qarsh project. This mobile phone application integrates the open banking program and aims to improve individuals' financial practices and cultivate a generation that embraces a healthy financial culture. This paper discusses the development of the Qarsh application and outlines its features.