Babies born during the upcoming week receive the first savings of 400 euros

31/10/2018

The Governor of the Central Bank of Montenegro, Mr Radoje Žugić, and the Chief Executive Officers of all commercial banks signed the Agreement on carrying out of the "Savings Week" campaign today, which is being held in Montenegro for the fifteenth consecutive year on the occasion of 31 October - the World Savings Day.

The campaign under the slogan "First step towards the safe future" implies the joint action of giving savings books to children born 31 October through 6 November 2018 in Montenegro. Namely, children born in this period, whose parents open a savings account in one of the Montenegrin commercial banks, will be given 200 euros by the CBCG, and another 200 euros, along with a savings book, by the commercial bank which parents select. In this way, all children born in the mentioned period receive a gift as their first savings, in the total amount of 400 euros. The amount of 400 euros will be deposited for one year, and after the expiration of that period, parents can withdraw money or deposit for savings.

In the past fourteen years, through this campaign, the first savings were given to 1,924 new-borns, for which the CBCG allocated nearly 400,000 euros.

With this action, the CBCG has devised a rich program of educational activities in order to celebrate the Savings Day, which will include a large number of children and young people. Namely, the CBCG representatives will visit several schools during this and next week, in order to explain the significance of savings to the young people and introduce them to basic financial terms and categories.