Within the World Excellence Awards, the Saving Generations program wins the Best Social Project Award

Wednesday-2024-12-25

The Saving Generations Programme, one of the products of the Bank for Innovative Social Development, achieved the third `best social project ' in the Global Excellence Awards for projects organized by the Global Entrepreneurship Forum, concurrently with the Third Project Management Office Summit, and with the presence of the Executive Vice-President of The Strategy and Innovation of the Bank of the Bank of Social Development, the Biche Engineer, who represented the Bank at this special event.

The award is the result of the achievement of the " Generations " programme for the standards of the best social project by delivering a qualitative shift in the promotion of a culture of savings between children aged 6 to 18 years, which aims to raise financial awareness in this age group through an integrated banking experience and parental supervision, and allows children to interact with their savings through a smart electronic application that enables them to pursue and regulate their savings easily and flexibly.

The programme is characterized by innovative financial and non-financial incentives that encourage structured and targeted savings to achieve specific financial targets, making it a pioneering model that contributes to enabling future generations to manage their financial resources consciously and sustainably. The programme has recorded positive results since its inception, with total savings reaching over SAR 9 million, and has seen a marked growth in the number of participants from 11.4 thousand to 64.5 per cent, reflecting positive efficiency and society.

This achievement reflects the Bank ' s message of providing targeted and effective savings programmes and raising financial awareness among all segments of society, beginning with the launch in 2018 of its first savings programme, Zod, to motivate bank customers to save and achieve their financial goals through a flexible monthly plan and encouraging cash incentives. In 2021, the Zod Generation Programme, the first child-oriented savings programme, was launched during the next three years, aimed at 250 thousand participants.

Global project excellence awards are a well-known global platform for excellence in project management and organizational performance, consistent with Saudi Arabia ' s vision 2030. The award aims to honour extraordinary achievements in project management and highlight the transformational efforts of individuals, task forces and project management offices.