Bank of Maldives have introduced a special bank account for kids. The account named “Kids Saver” was launched at a ceremony held today in BML Head Office.
During the ceremony، the Retail Banking Director of BML Mohammed Shareef said that the purpose of this account is to encourage children to save money for future.
Shareef said that، till children reach 18 years old، the accounts will be managed by their parents. Also debit cards and cheque books will not be issued for the accounts before they are 18. In addition، if a parent wants to withdraw the money under special circumstances، that choice will be given once a month.
Shareef also said that، they plan to have an annual lucky draw among kids who open accounts at the bank. He said that، new features and services will be introduced for the account holders in future.