POB launches kids savings, Friday

June 19, 2015

By DENVER NEWTER

Published: 22 May 2015

PAN Oceanic Bank (POB) will launch a newly savings account for children between ages 0-18 this morning.

Called ‘PIKININI SAVINGS’ it would be launched at POB Panatina Plaza Branch.

Pan Oceanic Bank (POB) Chief Executive Officer (CEO), Nihal Kekulawala, told local journalist during a press conference on Wednesday.

Mr Kekulawala said, PIKININI SAVINGS account is their first saving scheme to be introduced for kids in Solomon Islands.

“As a locally incorporated Bank it’s our focused on supporting the country through meeting the needs of people of the Solomon Islands.

“This new saving account was introduced by POB to help parents save money for their children and is important for the development as increasing investment that will achieve a higher growth rate in the country,” he said.

 Mr Kekulawa said, PIKININI SAVINGS is the first step towards promoting national savings and introducing a gift scheme for minor savers.

“This children saving accounts aims to encourage parents to save for their children.

“Once you open an account, children or parents are not allowed to withdraw money until that particular child has reached the  ages of 18. For health reasons parents or that child can able to withdraw the money,” POB CEO explained.

He added, POB wants to encourage parents to save for their child until18 years of age.

“We want to encourage parents to save money or in other words invest money for the future.

“Sometimes parents fac financial challenges when their child reaches age of to pay for school fee or marriage.

“Therefore POB opens this new saving scheme to allow parents start saving for their children with any amount,” he said.

For more information about the PIKININI SAVINGS you can visits POB bank both Point Cruz and Panatina Plaza for more information.

Source:Solomon Star