TAWAU, Jan 2 (Bernama) -- Parents should look on the bright side over the aid given under Amanah Dana Anak Malaysia 2050 (ADAM50) certificate programme to all Malaysian babies born between Jan 1, 2018, and Dec 31, 2022.
Sabah Resource Development and Information Technology assistant minister Datuk Hamisa Samat said the incentive, as promised by Prime Minister Datuk Seri Najib Razak when tabling the Budget 2018 in Parliament recently, should be deemed as an assistance for financial planning of their children and not to fish for votes.
"So, when the government is giving the RM200 aid, it is the beginning of (financial) planning for children to have savings under their own names," she told reporters after visiting babies who were born yesterday at the Tawau Hospital here, today.
Hamisa said it was the responsibility of the parents as trustees not to abuse the children\'s funds but to help increase their savings.
ADAM50 is introduced by the Government in collaboration with Permodalan Nasional Berhad (PNB) to promote early savings and a culture of investment among Malaysians since their childhood.
The Government would give 200 free incentive units as initial capital to be credited into the Amanah Saham Bumiputera (ASB) account for Bumiputera babies or Amanah Saham 1Malaysia (AS1M) for non-bumiputera babies when they register at Amanah Saham Nasional Berhad (ASNB) branches or appointed agents.