BLOM BANK launches savings
program for rural areas

 

The USAID-funded Livelihood and Inclusive Finance Expansion (LIFE) project launched, in collaboration with BLOM BANK, an initiative under the theme 'Bringing Peace of Mind to LIFE' to bring rural clients into the bank’s financial inclusion strategy.

As part of this initiative, BLOM BANK has introduced 'START/ بلشّ', a special savings account without a minimum balance. START offers a preferential interest rate on amounts as low as LL40,000 to encourage low-income individuals to save money. BLOM BANK will roll out a nation-wide campaign to promote the new program on major TV stations. The bank will carry out dedicated visits to the targeted regions to encourage unbanked people to open a savings account.

BLOM BANK Chairman Saad Azhari said: “As part of our financial inclusion strategy, we are happy to announce our partnership with USAID to engage unbanked clients in rural areas. With the new savings account Start/ بلشّ , we are providing a tool for unbanked users and encouraging them to start a lasting relationship with us. START program will allow anyone to begin saving money with very small monthly amounts. This program falls in line with our CSR strategy and helps fulfill the Bank’s purpose and mission.”