School based banking: National Savings Bank in Sri Lanka (NSB) believes that creating an awareness of the virtues of savings at an early age is vital to the success of banking the financially excluded. NSB branches facilitate school banking in areas in which they operate island-wide.
This model entails the building of a dedicated unit at school premises monitored regularly by the respective branch officer. Children are involved interactively in running the bank within their school premises under the supervision of experienced bankers. They act at the level of manager, treasurer, etc. just as in a conventional bank. The children aged 7–16 have the authority to open and operate savings accounts on their own at NSB. This means that excess pocket money goes to savings that earn a relatively higher interest rate than the normal market rate.
Raise awareness of savings among children: NSB also conducts awareness raising campaigns in the form of seminars designed to attract the inquisitive mind of a child to the concept of savings over spending progressively reducing spending on junk food and on social vices such as the use of narcotics.
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