THE PERMANENT Secretary of the Ministry of Education and Human Resources has commended Pan Oceanic Bank for initiating the school Banking Unit programme.
In his speech during the opening of the Chung Wah School Banking Unit, Dr Franco Rodie acknowledged the POB Management and Chung Wah School for their vision to initiate the Saving Scheme for the pupils.
He said his ministry is proud as the scheme will encourage children learn a culture of saving and other skills associated with finance at a very young age.
Dr Franco said the partnership shows that POB and Chung Wah School have a heart for the children’s future.
He said he is confident that students will become literate in finance as well as develop themselves as individuals with the knowledge, skills and attitude needed to earn a living in harmony with other Solomon Islanders.
Dr Franco said the School Saving Scheme is a fantastic way of encouraging children to get the most out of the monies that their parents earn.
He added the scheme will teach children the value of money and how to work towards achieving a goal for their future.
“It is a financial awareness for children from an early age to develop their attitude towards money by the age of seven and even below.
“It allows our children to have good financial habit by teaching them the role money plays in our lives.
“I believe this scheme will educate our children to manage money and as well as managing the risk and emotions associated with money,” Dr Franco explained.
He said the scheme opens a gateway for children to learn how other financial institutions such as credit union and saving clubs operate.
Meanwhile, Dr Franco said the benefit of educating children in an early stage will help children to develop strong saving habits, learn how to make smart purchase and learn why they (students) cannot get everything they want.
He stressed that teaching children the value of saving for the future will put the next generation on the road to great financial security.
Dr Franco said children will be able to finance their own university school fees if they are involved in the scheme with good spirit.
“We have 190 school days in one year and if a child saves five dollar per day, he or she will save $950 in one year and by the time he/she reaches form six or seven he/she would save up to more than $12,000.00.
“This is a huge, one that a child could start a good life with once he leaves school,” he added.
Dr Franco said he supports the importance of School Saving Schemes as it will encourage students to save money while at school.
On the same note he called on teachers and parents to encourage their children to make use of the saving scheme.
The post School Banking Unit programme commended appeared first on Islandsun Daily News.