(MENAFNEditorial) Emirates Islamic, one of the leading Islamic financial institutions in the UAE, today announced the launch of its new Child Savings Account. The new account is free to children and comes with Hassala, and a complimentary pre-paid card, which for a limited introductory period will include AED 100 credit. The initiative is in line with the bank's on-going strategy to encourage a culture of savings in the community.
In addition to their pre-paid card, when applying for the Child Savings Account, children will also receive a colourful welcome pack and activity book explaining the importance of saving from an early age. Parents opening the account on behalf of their child will be entitled to avail of the Takaful cover at the value of AED 120,000 per account, which is free for the first two months.
"At Emirates Islamic we recognise the importance of ensuring future financial stability through long-term planning and saving," said Faisal Aqil, Deputy CEO, Consumer Wealth Management at Emirates Islamic. "Understanding the significance of financial well-being and security starts at a young age, which is why we have launched this new child-friendly account to encourage children to start saving."
The idea behind Emirates Islamic's Child Savings Account is to instil the value of saving from a very young age, which falls in line with the bank's wider initiatives to encourage customers to become more accountable for their finances in preparing for unforeseen circumstances.
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