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National Project for Saving for Future Apartment is a main tool of HDB to achieve financial inclusion: Sebaey - Daily News Egypt

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National Project for Saving for Future Apartment is a main tool of HDB to achieve financial inclusion: Sebaey

Fathi Sebaey, chairperson and managing director of the Housing and Development Bank (HDB), said that the bank is always keen to sponsor and develop the National Project for Saving for the Future Apartment, which is being implemented in cooperation with the Ministry of Education, making it one of the bank’s main tools to achieve financial …


Fathi Sebaey, chairperson and managing director of the Housing and Development Bank (HDB), said that the bank is always keen to sponsor and develop the National Project for Saving for the Future Apartment, which is being implemented in cooperation with the Ministry of Education, making it one of the bank’s main tools to achieve financial inclusion.

He added that this project aims to increase the number of customers of the banking sector, especially at a young age in which children begin to learn the concepts and behaviours that stay with them for the years to come.

He noted that since the project was launched 18 years ago, it provided 17,000 saving books for children and youth, with savings worth EGP 478m.

Sebaey discussed the importance of this project on the sidelines of the bank’s first drawing for 2017 on the prizes of the award-winning saving books for children and youth for the 18th year in a row.

The ceremony, which was attended by the leaders of the bank and the Ministry of Education, and under the supervision of the Ministry of Social Solidarity, saw Donia Khalaf Mabrouk Eid from Assiut winning the first prize—a residential unit worth EGP 200,000. Additionally, Ahmed Mohamed Hosny Mohamed from the Nasr City branch won the second prize—a EGP 100,000 residential unit—and Ahmed Bahaa El-Din Ahmed El Sayed from Assiut won the third prize—a EGP 50,000 residential unit.

Sebaey said that the HDB has been a pioneer in the dissemination of financial culture among children and young people, being a member of the Child and Youth Finance International (CYFI).

He added that as a continuation of its cooperation with the Ministry of Education, the bank has activated the “Honoring Top Student” programme, starting with the top students that graduated high school in 2014/2015.

This programme includes granting computers to the top students, next to a monthly allowance to the students throughout their university studies, provided they continue with excellence. It also includes honoring top students in all governorates in primary and elementary schools by giving them tablets and savings books with symbolic value to encourage them to save.

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https://dailynewsegypt.com/2017/05/14/national-project-saving-future-apartment-main-tool-hdb-achieve-financial-inclusion-sebaey/
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