Neten Dorji | Khaling

Students of Khaling Muenseling Institute in Trashigang competed in narrating stories and reciting poems about the importance of saving money on August 17.

It was not a regular school competition but a special event to create awareness of financial literacy and encourage the youth to save, organised by RENEW Micro-Finance Private Limited(RMFPL).

It is one of the events in the run-up to World Savings Day on October 31 this year.

A student, Kinley Dorji said, “Now, I want to open a savings account where I can save money little by little.

“We cannot predict what will happen in the future and that is why I think saving money is important.”

Another student, Tshering Pem said, “I want to save more money to pursue teaching profession.”

She said that she wanted to share the importance of saving culture with her parents.

A 13-year-old student of Khaling Lower Secondary School, Rinzin Dorji said that until the event on saving money held in his school he knew nothing about saving money. “I will seek help from my parents to open a savings account.”

A RMFPL official, Yeshi Wangdi said, “We want to educate people as well as to create ambassadors of saving.”

He said that they decided to start observing World Savings Day in the east since most of the events are held in the western and central dzongkhags.

RMFPL initiates various activities in 11 dzongkhags to encourage savings, especially for rural women.

“To encourage savings, we make short films from rural areas and educate rural women, nuns and monks,” said another official.

He said the initiative is also to take RMFPL services to the doorsteps of the customers. “It is not just to help the youth in making wise money decisions but also create awareness on saving culture and its importance.”

RENEW microfinance was established in 2012 and was undertaken by German Sparkassentiftung for International Cooperation which is funded by the German Ministry for Economic Cooperation and Development, Germany.