Babies born during the “Savings week” receive the gift of 400 euros

30/10/2019

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 sixteenth 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 2019 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.

Governor Žugić thanked the representatives of the banks for participating in the campaign again this year, expecting that “this action will contribute to mitigating the negative demographic trends in our country and promoting the importance of saving and all its implications for economic growth and economic policy”. The Governor also added that this action demonstrates a high level of social responsibility of both the CBCG and all commercial banks in the country.

In the past fifteen years, through this campaign, the first savings were given to 2,056 new-borns, for which the CBCG allocated nearly 430,000 euros.

During the upcoming Savings Week, the representatives of the CBCG will visit three primary schools – “Bajo Jojić” in Andrijevica, “Hajro Sahmanović” in Plav and “Savo Kažić” in Barutana, in order to clarify the importance of savings for the youngest and to explain them the basic financial terms and categories. At the same time, pupils from two elementary schools from Cetinje, “Njegoš” and “Lovćenski partizanski odred” and pupils from two secondary schools, Secondary Vocational School from Cetinje and Secondary School of Economics “Mirko Vešović” from Podgorica, will visit the Money Museum during which they will visit the permanent exhibition of the Museum and attend a presentation on saving.