School Bank Initiative

School Bank is a model bank operated by students in school.  The initiative based on His Majesty the King’s principle of Sufficiency Economy philosophy which promotes the idea of moderation against external influence by encouraging people to live a sufficiency life, among them the prime practice leading to such aim is savings as it provide savers with a sense of security and immunity.

In response to this, Bank for Agriculture and Agricultural Cooperatives (BAAC) sees the prime target to promote savings – the students. The School Bank was then setup in school with the support of BAAC and advice from teacher. School Bank takes savings and give students the chance to deposit money with school bank while offers them the chance of experiencing bank service practice and working with others.

Objectives

• To promote savings habit among students
• To train students on proper management and service principle
• To instill students with team work spirit and how to work with other
• To promote sense of responsibility
• To foster appropriate use of spare time of students and involvement in useful activity

Criteria for joining School Bank Project are as followings

• School Management shall recognize the importance of the project and apprenticeship of students
• School should be able to provide support such as necessary facilities and spaces for school bank
• Sufficient students to join School Bank; the suitable number of students should be a minimum of 1,500

Procedures

• Presentation of Project for approval
• Coordination with Bank for Agriculture and Agricultural cooperatives for transfer of knowledge and on the job training
• Project introduction to teachers
• Setting up of operation committee consisting of teachers and students
• Implementation
• School bank operation: Monday to Friday between 12.00 – 13.00 hours to take deposits
• Monitoring and report