Amana Bank introduces enhanced ‘Amana Bank Kids’ Savings Program aimed at empowering young savers

Thursday, 29 May 2025 14:37 - - {{hitsCtrl.values.hits}}

Amana Bank has introduced an enhanced range of Children’s Savings products under the banner of Amana Bank Kids. This initiative aims to instil the habit of saving in children from a very early age while, setting the foundation for lifelong financial discipline.

Amana Bank Kids provides a variety of saving solutions, including dedicated savings accounts, term investment accounts, and foreign currency accounts. The Bank gifts a pre-loaded balance of Rs 1,000 to all new accounts opened for children aged two years and below, encouraging an early start to their savings journey.

As a measure to further promote consistent saving habits, customers who automate a monthly deposit to the Amana Bank Kids account through a standing order will be rewarded with a gift deposit of 25% on the monthly deposit value quarterly. For instance, if a customer continuously deposits Rs. 4,000 per month for three months through a standing order, the bank will make a gift deposit of Rs. 1,000 to the account. The maximum gift deposit value per annum will be Rs. 10,000. The bank also rewards the academic achievements of its young account holders, offering special rewards for high performers in Grade 5 scholarships, O/Level, and A/Level exams.

In addition to the savings accounts, the Amana Bank Kids Term Investment Plan offers a long-term, secure savings solution specifically tailored for minors, empowering parents to create a solid foundation for their children’s future aspirations. Speaking on the revamp Amana Bank’s Assistant Vice President – Deposits and Digital Innovation Arshad Jamaldeen commented, “At Amana Bank, we are committed to nurturing the potential of tomorrow’s leaders. Through our Amana Bank Kids savings and investment solutions, we aim to empower parents with smart savings to secure a brighter future for their children, fostering financial responsibility and brightening children’s future from an early age.”

Amãna Bank PLC is a stand-alone institution licensed by the Central Bank of Sri Lanka and listed on the Colombo Stock Exchange, with Jeddah-based IsDB Group being the principal shareholder of the Bank. The IsDB Group is a ‘AAA’ rated multilateral development financial institution with a membership of 57 countries. Testifying its position as a leading practitioner of the non-interest based banking model, Amãna Banks continued to be recognized amongst the Top 50 Strongest Islamic Bank’s in the World by The Asian Banker. Fitch Ratings has conferred upon Amana Bank an investment-grade rating of BBB-(lka) with a stable outlook, paving the way for multiple opportunities to drive the bank’s growth and expansion.

Amãna Bank does not have any subsidiaries, associates, or affiliated institutions apart from its engagement with OrphanCare as its Founding Sponsor.

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