Dubai Islamic Bank (DIB) today unveiled its first account developed specifically for children. Created to help children understand financial responsibility from an early age, the Shaatir Savings account includes a number of innovative features that encourage young people to save towards specific goals in the lives.
Open to every child in the UAE, the Shaatir account comes with special features such as higher expected profits, ATM card for the child, exclusive offers and discounts at various stores, as well as phone banking and online banking access. Importantly, the account has no minimum balance requirement and there are no maintenance charges.
Upon joining, Shaatir customers receive a specially designed welcome pack and savings box to help them start saving for their future. DIB has also created a dedicated Shaatir children’s website featuring interactive games and informative videos where children can learn about banking and saving, making them more financially responsible.
“Dubai Islamic Bank is committed to play its part in the development of the UAE – in all areas and at all levels. The next generation is certainly a very important part of the future, and we believe that by helping children learn how to manage money early in their lives, we are empowering them to fulfil their potential when they become the adults of our society,” said Dr Adnan Chilwan, Deputy Chief Executive Officer, DIB. “Shaatir gives children the tools to understand banking and the ability to interact with the bank in a fun manner. It will help them manage their accounts themselves and inculcate a saving habit, giving them an enormous sense of achievement when they hit their financial goals and are able to realize a personal dream.”