Bank of Palestine launches a massive campaign for the Barraem children's savings account
4 | 4 | 2017
In pursuit of its efforts to propose and provide distinguished banking products and services that respond to the needs of all sectors in Palestinian society, Bank of Palestine launched a massive campaign for the Barraem children's savings program, which aims to encourage parents to put aside a small amount of money monthly and deposit it in their children's account. In return, the bank grants account holders, on a monthly basis, a percentage on the saved amount that reaches 30% within a period of 10 years.
Barraem is one of the unique programs provided for children on a national scale. It was particularly designed for children between the ages of one day to 17 years old, under the custody of their caretakers, to secure their future and allow them to realize the hopes and dreams they had since their birth.
The program aims to encourage all bank clients to save part of their monthly salary to secure the future of their children, while the bank grants an annual return based on the amount saved and its duration. Employees in the private and public sectors, whose salaries are transferred to one of the 67 branches of Bank of Palestine spread across the nation, as well as those whose salaries are transferred to other banks, are able to participate in this new program.
Mr. Thaer Hamayel, Director of Marketing and Direct Sales at Bank of Palestine, presented the advantages of the children's program, and stated that the minimum amount that may be deposited on a monthly basis is $10 , while the maximum amount is $500. The guardians of children may deposit a first one-time maximum payment of $10,000 upon opening the account, and this payment will be considered as part of the Barraem program and will be eligible for a return on deposit. Monthly payments should be equivalent to the first payment made.
Hamayel encourages all parents to participate in the program. He added that the bank continuously seeks to provide unique services to all sectors in society, especially to children, under the sponsorship of their guardians who work in the various economic sectors. Bank of Palestine established several media tools, such as local newspapers, billboards, radio stations, Bank of Palestine website (www.bankofpalestine.com) or Facebook page, that allow the public to inquire about the campaign and the program.