Babies born in “Savings Week” receive a gift of 400 euros

31/10/2022

The Governor of the Central Bank of Montenegro (CBCG), Radoje Žugić, and the members of executive boards of commercial banks signed the Agreement on implementing the “Savings Week” campaign. The campaign is being implemented for the nineteenth time to celebrate World Savings Day on 31 October under the slogan “The First Step to a Secure Future”.

All babies born during “Savings Week”, from 31 October to 6 November 2022, whose parents open a savings account in a commercial bank in Montenegro, will receive their first savings as a gift. The CBCG gives away 200 euros each, and the commercial bank where parents open a savings account, another 200 euros. A total of 400 euros will be deposited into the child's savings account for one year, after which the parents can withdraw the money or continue saving.

While thanking the banks for their continued support in promoting savings as an important part of financial literacy, Governor Žugić pointed out that thanks to “Savings Week”, 2.407 babies received their first savings in the previous 18 years, for which the CBCG and commercial banks allocated 447.200 euros each.

To exercise the right to the first savings, parents of children born during the “Savings Week” should open a savings account in a commercial bank by 31 March 2023 at the latest, along with the identity card of both parents and a birth certificate for the new-born child.

In addition to giving away the first savings, the CBCG also organizes numerous educational activities as part of “Savings Week”. The first in a series - an exhibition of the works of Cetinje schoolchildren entitled “I Dream and Save”, was conducted on 28 October in cooperation with the Faculty of Electrical Engineering of the University of Montenegro. The campaign continues with workshops in Montenegrin elementary schools on money, savings, banking and banking products, as well as lectures for high school pupils.