Financial Services (105)
Baby banking steps
The Abu Dhabi Islamic Bank launched a product named ‘Banoun’ which is an account for children aged 8 and above. To appeal and grab their imagination, they created a character called Darhoom that tells the kids stories about how to save and manage their allowance.
Why it matters
Not only does this program help kids understand the concept of finance at an early age, it encourages parents to become more responsible by investing into their kids’ future. While this concept may be familiar in many western markets, it’s an innovative one for an Islamic bank in the Middle East. Will this encourage all other banks to open up to a new, even younger, Arab generation?
Cash machines with instructions in Cockney rhyming slang are now available in east London. People using ATMs will be asked to enter their Huckleberry Finn, rather than their PIN, and will have to select how much sausage and mash they want. The rhyming slang prompts will be available from five ATMs in east London for three months.
Caixa Geral de Depósitos has released a Zero Carbon Card, a unique bank card that gives its holders special benefits for the purchase of goods and services that are more energy efficient and environmentally friendly. A solution that aims to contribute to the reduction of carbon emissions and, at the same time, to reward consumers for contributing to a healthier world. The card also gives CO2 credits, meaning that the amount of money saved in the cash back programme is used in energy saving or energy efficient projects, generating credits that compensate for its owners’ inevitable emissions.