According to ADIB, the Mudarabah based Banoun Children’s Account gives parents the opportunity to save money for their children while benefiting from the same terms and conditions as a normal saving account.
Under the terms of this account, ADIB will deduct an agreed monthly amount from the parents’ ADIB account and transfer it to the Banoun account with the possibility to increase this amount later on.
The Banoun account is also differentiated by Takaful Protection provided by Abu Dhabi Takaful Company.
ADIB head of New Product Development Maryam Talib said economic uncertainty has taught us to be prudent and have a low-risk financial plan for the future.
"We believe this will go a long way to help them make responsible spending decisions later in life. We are pleased to help children build their future while they experience a service that exemplifies banking as it should be," Talib said.
