Urging public and children to imbibe saving culture

The World Savings Day is  celebrated each year on 31 October to create awareness on the importance of saving and financial literacy


Her Majesty the Gyalyum Sangay Choden Wangchuck graced world savings day as the Chief Guest on 31 October at the Royal Textile Academy in Thimphu.

To raise awareness among the public on the importance of financial literacy and to encourage the habit of saving, RENEW Microfinance Private Limited has been observing this day every year by initiating various events and activities and organizing events across the country.

The executive secretary of RENEW Microfinance, Sunita Biswa, said that the days are observed to inform people of the idea of saving money in the bank rather than keeping home.

She said it is also to promote a savings culture in the country and to support people. “We promote financial literacy, the culture of saving habits in Bhutan and we strongly motivate people to save for the future,” she added.

“Savings will not only benefit you but also helps preserve the environment by preventing wastage that contributes to the economic growth of the country,” says Sunita Biswa.

This year’s saving day was themed “Saving prepares you for the future”, which included demographic diversity and customized activities especially for children to instill in them the value of saving and to encourage the habit from a young age.

As a part of this year’s observation for World Savings Day, RENEW Microfinance completed several activities, such as competitions for poetry recitation and storytelling in line with the theme “The importance of saving” at the Muenselling Institute in Trashigang.

The activities include a piggy bank-making competition among the young students at the Dechencholing Higher Secondary School and a roadshow with members of the Changjiji community.

Besides, savings games and similar activities also took place in Samtse, Bumthang, and Trongsa.

Her Majesty awarded prizes to the winners of the piggy bank competition to classes 1, 2, and 3 of Dechencholing Higher Secondary School, the three best clients from the Thimphu branch, and certificates to the staff of the RENEW Microfinance.

In addition, information on the importance of saving was disseminated through live performances in the form of song, dance, and drama by artists and students.

The event was also attended by National Assembly Speaker Wangchuk Namgyel, Chairman of National Council Tashi Dorji, Finance Minister Namgay Tshering, Human Settlements Minister Dorji Tshering, and representatives from various relevant agencies and students from Thimphu schools.

The event is a collaborative effort between the RENEW Microfinance Pvt. Ltd. and the Gyalyum Charitable Trust. All the organizations were established under the Royal Patronage of Her Majesty Gyalyum Sangay Choden Wangchuck.