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Grant to create a culture of savings: AG

July 3, 2018 11:03 pm

The one thousand dollars grant for the new born babies will create a culture of savings for families says Economy Minister, Aiyaz Sayed-Khaiyum.

Sayed-Khaiyum says mothers of new-born babies will create an account under the child’s name and will utilise the first $500 during birth.

He says the second $500 will remain in the account and will be used when the child enters Year 1.

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Sayed-Khaiyum confirms that for the first six years no fees will be charged for the new account.

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