The European Union seeks to pump trillion euros in saving families by encouraging people to invest in capital markets, and see a role model in this regard in Sweden. Europe is expected to announce the details of its plan during this term to utilize the money of the citizens deposited in banks as part of the savings and investment union. By facilitating the investment process, Europe aims to raise the wealth of families and improve access to funds of businesses. Analysts believe that it can be widely encouraged to adopt bank accounts in Swedish style, enabling people to easily invest their savings in shares. This comes at a time when Poland suggested earlier this month to create an investment saving account, similar to the Swedish “Investing Parkonto” system (ISK), with the aim of consolidating an investment culture that attracts 100 billion Zloti ($ 27 billion) in the first three years. Philip Scholdzi, spare economist at Avanza Holding AB Bank, said that the basis of retail in Sweden is “of the best in the world” thanks to the convenience of investing individuals in listed companies. The Swedish model is considered a role model in “Best Practices”, according to a spokesperson for the Department of Financial Services of the European Commission, the executive arm of the European Union. The spokesman added that the union is aimed at providing citizens a broader set of tools and knowledge to invest their savings in ways that directly benefit their personal economy, while the investment scene in the European Union is reinforced at the same time. ” Decades of developing policies in the country with a population of about 10 million people have invested more like national sports in equities. Swedish families invest more than half of their savings in stocks, more than twice the average in the euro area, according to a report issued by the European Institute of Savings this year. Anyone with a bank account can trade in stocks, while an ISK account – applied since 2012 – is not subject to a capital gains tax. Securities can be purchased and sold directly to banking applications via cellphone. “Sweden has a good reason for gratitude for the ISK account,” says Mohamed Saleh, 32 -year -old communications director, who lives in Leicester, south of Sweden, who has invested in the system for more than ten years. He added: “I always saved money and tried to build an economically stable future, but I didn’t know how to develop my money.” Saleh created an account on Instagram to document his journey to its goal of increasing its assets to a million Swedish crowns ($ 105,000). He says he reached his goal a few years ago, but he still publishes advice on the stock market that attracts attention. Saleh said: “The youngest person who wrote to me was 13 years old, his parents helped him create an ISK account.” It is important for young people to simplify the ISK system of capital investment system and remove the bureaucratic obstacles that people praise to participate in the past. “It’s a lot simpler way to buy shares. It’s important and especially for young people.” Almost a quarter of the Sweden has direct shares in companies listed on the stock exchange, with an average shares of about $ 540 thousand Swedish cranes ($ 56.552), according to the “EUROCKER SWEDEN” data. The latest data available from the Swedish Investment Funds Association shows that about 70% of Swedes invest their money directly in joint investment funds. Compared to the UK, only 8% of the personal wealth in equities and joint investment funds savings, according to the January review data performed by the “Aberdeen” group. This is still to see the effect of launching a savings and investment account on the European Union on the wider European market. According to Jonas Strum, CEO of Nordic Investment Bank, it is certainly possible to apply the success of Sweden -related accounts (ISK) to the broader European fans. The European Commission will be satisfied with providing a detailed plan for setting up a terms and investment account at the European Union level, leaving the member states to implement it. Strom explained that the success of the proposal eventually depends on the ‘political will’ of member states.
The European Union follows the Sweden model to stimulate investments in shares
