The Al-Ahli Bank of Kuwait (ABK) recently launched a new children’s account, aimed at educating the young on banking services and developing their ability to manage their finances, reported KUNA.
The Fahodi account will be eligible to those under the age of 15 and account holders between the ages of 10 and 14 will have access to Automated Teller Machine (ATM) cards, enabling them to carry out a limited number of banking transactions.
ABK posted a 37 percent rise in profit to $16.4 million in the first quarter of 2002. Earnings per share rose from four to six fils, said a statement to the Kuwait Stock Exchange. For 2001, the bank reported earnings per share of 16 fils, up from 12 fils the year before. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
