18:40 GMT30 May 2020
Listen Live
    Middle East
    Get short URL
    0 43
    Subscribe

    Many female Saudi investors have fallen victim to fraudulent schemes while trying to hide their financial assets from their husbands.

    MOSCOW, December 30 (Sputnik) — Many female Saudi investors have fallen victim to fraudulent schemes while trying to hide their financial assets from their husbands.

    "By blindly following past experiences recounted by other women, these women end up caught in the traps set by con men, who pretend to help them make instant money," Arab News reported.

    The media outlet cites Saudi economic expert Abdullah Al-Maghlouth, who believes that Saudi women should be allowed to enter "the real estate sector and own real estate." However, the expert insisted that Saudi women should be assisted by professional advisers, since a lack of expertise may lead to undesired results.

    "Investors in this market have to consult real estate experts and legal counselors so they learn about contracts that protect the rights of all parties," Abdullah Al-Maghlouth said, as quoted by Arab News.

    According to Al-Maghlouth, Saudi women should invest in various sectors, and not limit their financial operations to real estate. The expert admitted that some Arab women prefer to hide their savings from their husbands in order to secure their financial assets.

    "They can buy stocks and precious stones and jewelry like gold and silver, and they can invest in investment funds through banks and bank-managed investment portfolios, which are considered a safe way to keep the money," he underscored, as quoted by Arab News.

    However, investment opportunities for women are still limited in Saudi Arabia.

    "There are many fake real estate companies that could exploit people's naiveté, and not only women's, to make money," noted economist Fadel Al-Bouainan, who warned inexperienced female market players against investing in the real estate market or the stock market, the most risky sector.

    "Investment should be based on knowledge, advice and an analytical reading of the economic situation," he said, recommending that women work in a low-risk e-marketing field.

    Related:

    Iraq Backs Saudi Arabian Decision to Keep Oil Production Levels: Minister
    Saudi Arabia Calculates 2015 Budget on Oil Price $80 Barrel: Expert
    Saudi Arabia Unveils Record 2015 Spending Amid Falling Oil Prices
    UK Planned to Secretly Extradite Guantanamo Inmate to Saudi Arabia: Reports
    Tags:
    real estate, women's rights, investments, Saudi Arabia
    Community standardsDiscussion
    Comment via SputnikComment via Facebook