TAKAUD, the specialist savings and pensions provider for the MENA region, is pleased to announce that it continues to support its on-going awareness campaign to educate and encourage the local community to save.
After hosting a series of educational exhibits and workshops across Bahrain during the course of the year, TAKAUD has introduced a special ‘Ramadan Savings Incentive’ during this holy month to help new savers plan their finances and support their long term futures.
As part of the Ramadan Saving Incentive, TAKAUD will pay up to BD300 as a free first month contribution for each new regular monthly savings plan opened. Customers can benefit from this offer by subscribing to a savings plan that starts with a minimum of BD50 a month. Thus far, this initiative has been very well received by the community and will continue to run until July 29th.
Building on TAKAUD’s on-going ‘grass roots’ educational activities, this incentive will encourage both nationals and residents to save for short term goals while planning for longer term expenses such as children’s education, new homes or businesses. With a large percentage of the GCC’s population concerned about inadequate savings, future income and pensions, TAKAUD recommends the discipline of regular saving to help build the financial resources needed to cover unexpected events such as a loss of a job or a medical emergency while growing retirement funds needed for later years.
TAKAUD’s Acting CEO, Mr. Eric Van Biesen, said, “We are delighted that during the holy month of Ramadan, we are able to support our on-going public education initiative on the need-to-save with an attractive saving incentive, which is benefiting all. It is critical to begin saving early in life to achieve short and long term financial objectives, while contributing towards pensions and future income in later years. Our experts are always available to provide illustrations and tips on how to save and manage your finance for the medium and long term personal plans.”
Leaving hard earned cash in a bank account may not always be an effective method to save. With the rising cost of inflation, which industry experts suggest will stay above 7.5% for the next six years for the MENA region, the buying power of cash savings will reduce unless action is taken. For example, US$ 10,000 in a basic current account at the start of last year will only be able to buy $3,700 of goods 6 years from now if it is not invested and enabled to grow, to match the rising cost of living. In partnership with our globally respected investment partners, we provide the right solutions which address these challenges by offering best-in-class savings and pension products that deliver on these needs,” he added.
For more info please contact:
TAKAUD Savings and Pensions B.S.C. (c),
Email: [email protected]
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