One million kids have active BSN student accounts
KUALA LUMPUR: A total of 1.02 million students from 7,800 primary and secondary schools are active account holders of the Bank Simpanan Nasional (BSN) Student Savings Incentive Scheme (SGSP).
BSN chief executive officer Datuk Adinan Maning said the amount of savings by the students who joined the scheme had reached RM579 million.
He said campaigns by BSN, to boost savings, had resulted in the rise in the number of students applying for the scheme.
“This achievement is significant as it shows that the younger generation has a habit of saving money.
“It also helps SGSP increase savings among students,” said Adinan at the 2016 National-level SGSP Awards ceremony here yesterday.
Present were Education Ministry deputy director-general Datuk Ahmad Tajudin Jab, Bank Negara Malaysia Development Finance and Enterprise director Marina Kahar and Education Ministry, Co-Curriculum and Arts director Rozainum Ahmad.
He said during the ceremony, some 118 participants under the individual and school categories were chosen to participate in a savings competition, which has cash prizes totalling RM200,000.
Adinan said the winners were selected based on their net savings, frequency of the savings and average school savings throughout the year, which began from Jan 1 to Dec 31 last year.
“The SGSP is held annually and participation is open to primary and secondary students, as well as their schools.
“BSN has offered RM1 million in incentives since 2013 to schools that participate in SGSP,” Adinan added.
SGSP is a scheme based on a BSN savings product introduced in 1982 that aims to encourage the habit of saving money among students and it is a collaboration between the Education Ministry and Majlis Amanah Rakyat.
Education Ministry deputy director-general Datuk Ahmad Tajudin Jab (centre) and Bank Simpanan Nasional chief executive officer Datuk Adinan Maning with SGSP Awards winners in Petaling Jaya yesterday.