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What is buy now, pay later?
The option to buy an item you need now, without having to pay the full amount until later can come in handy. But how exactly do buy now, pay later (‘BNPL’) methods work? How it works Buy now, pay later payment services such as Tamara, Spotii, Telr, and Tabby allow you to do just that:…
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How to read a bank statement
A bank statement shows the details of activity in a bank account over a set period of time. This is typically one month. Bank statements are generally issued as electronic account statements (aka ‘e-statements’). Alternatively, sent in the mail as paper documents. It is important to know how to read a bank statement correctly to…
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How to introduce the concept of savings to young kids
Young kids may understand what money is but might not fully understand the value of the dollar or riyal. In a world that is becoming less reliant on physical money and turning to contactless forms of payment, explaining the concept of money may be even more difficult now. Teaching the concept of savings to young…
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Picking charities to give your Zakat to!
We think it is extremely admirable how the entire Muslim Ummah comes together during the month of Ramadan to aid the vulnerable members of our community. Although giving Zakat is a pillar of Islam, it is still extremely inspiring to see how generous Muslims are across the globe with their Zakat but also Sadaqah. They…
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What is a mada card?
When you open a bank account in Saudi Arabia, you are given a mada card. It acts as your gateway between the money sitting in your bank account and your everyday transactions. In other words, the mada card is the equivalent of a debit card. It can be used instead of giving cash to a…
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What does it mean to be Shariah-Compliant?
At FataFeat, we plan on ensuring that we consider Islamic ethics and manners. This includes Shariah compliance when creating features for our users. Whether our users look at their everyday transactions, savings analysis, or learn money management skills it will always be on our minds. As we are focused on providing services that assist young…
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What are round-up savings?
For many of us, saving pocket money bit by bit was done by saving whatever change or amount we could spare. It would be put into a box or piggy bank. Now that most of us deal with online banking and a digitized experience, having to save that money physically is a thing of the…
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What are interest rates?
We’ll start by breaking down simple concepts that you will see all the time when it comes to money management. First up are interest rates. Interest rates are the percentage of X amount the money you owe to a lender which increases on a daily/monthly/yearly basis. It is the additional amount of money you pay…
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How to converse with your teen about finances
We know so many of us wished that school had provided us with the knowledge to be better prepared as adults in maybe a lot of ways, one of which was when it came to dealing with finances. Financial literacy is extremely important to set yourself up for success. If you are thinking of having…
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Why saving money earlier is important
We at FataFeat truly believe that the saying, “no time like the present” will always be accurate when it comes to thinking about your finances. Too many of us only think of our financial responsibilities when we become adults. According to a recent stat, about one-third of the adult population around the world is financially…
