The CBCG marks the Savings Week for the fourteenth consecutive year


The Governor of the Central Bank of Montenegro, Mr Radoje Žugić, PhD 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 fourteenth 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 2017 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 of their first savings, in the total amount of 400 euros. The deadline for submitting the documents is 31 March 2018, while the savings book can be opened in one of the commercial banks only, with the identity card of both parents and a birth certificate for the new born child.

In addition to this, the CBCG devised a number of activities this year to mark the Savings Day, which will include a large number of children and young people. Therefore, today and tomorrow (31 October and 1 November) students of two primary schools from Podgorica will visit the Money Museum in Cetinje. The CBCG representatives will visit a number of preschool and school institutions from 1 to 6 November in order to explain the importance of savings to children and young people as well as to get them acquainted with basic financial terms and categories.

The CBCG will host students from four faculties (Faculty of Economics - University of Montenegro, Faculty of International Economics, Finance and Business - University of Donja Gorica, Faculty of Political Sciences - University of Montenegro and Faculty of Business Studies - Mediterranean University) and organize a debate on savings and its role in a society. This event will take place on Friday, 3 November.

Through the initiation and implementation of such educational and socially responsible activities, the Central Bank of Montenegro supports financial education, i.e. strengthening of financial literacy, which is a prerequisite for responsible money management.