Agrobank launches zero cash programme for school students

KUALA LUMPUR - Agrobank has launched Zero Cash Programme among school students to inculcate a proper money management culture so that young people are better prepared and smarter to conduct transactions digitally.

In a statement today, the bank said Program Sifar Tunai Jaringan Dan Jalinan Antara Agrobank Bersama Sekolah Menengah Agama Kuala Lumpur (SMKAKL) is the first initiative by Agrobank through a collaboration with the school cooperatives, Koperasi Sekolah Menengah Agama Kuala Lumpur Bhd.

Chief development officer Aminuddin Amenon said the programme would be implemented comprehensively in the school in stages and targeted about 700 students and school staff to use cashless transactions at the school canteen, book shop and teachers’ clubs to facilitate various transactions between students and the school.

"Students will only need to carry their debit card to buy food in the school canteen or even buy school equipment and books in the cooperative which will be done through auto-debit.

"This will also make it easier for parents to deposit pocket money for their children and at the same time, help them monitor their expenses as all transactions and usage of money can be viewed online,” he said.

To date, he said 100 students have opened deposit accounts under this programme while the account opening of 600 students and school staff is expected to be implemented from mid-June until the end of the year.

Under this programme, parents of students are to deposit a starting amount of RM50 into the student’s account which is packaged with a personal accident protection scheme under the Takaful Kasih Plus-i product and a debit card for students. - BERNAMA