By NATASHA JEE & NUR SHAZREENA ALI
KUCHING: Sarawak parents of babies born since Jan 1 this year can apply for the Sarawak Endowment Fund of RM1,000 beginning next month.
Welfare, Community Wellbeing, Woman, Family and Childhood Development Minister Datuk Seri Fatimah Abdullah said they could apply for it at the nearest Bank Islam or National Registration Department (NRD) branches throughout the state.
“Those in the rural areas can apply for it from the nearest NRD and it will help to send the applications to Bank Islam,” she said during a dialogue with NRD Sarawak and Bank Islam on the application process at the state NRD office here yesterday.
On top of the RM1,000 fund given by the state government, Bank Islam is giving another 4.2 pct profit rate on the trust account every year. The child will be able to receive a total of RM2,012.14 when he or she reaches 18 years old.
Fatimah said she was pleased that Bank Islam had agreed to give out the rate based on the mature period when the child turned 18.
“Before this, it was agreed that the fund would be given based on the registration date but today, we have solved the problem; the rate will be counted until the child turns 18.
“Therefore if he or she registers late, or for whatever reason, it will not affect the amount of the fund that the child is receiving,” she said.
Meanwhile, Sarawak Endowment Fund Project manager from Bank Islam Solha Ramli said the applicants (parents) had to fill in a form and bring along a photocopy of their child’s birth certificate.
“The application can be processed twice a month before the 15th and on the 30th of each month,” she said.
The RM1,000 Endowment Fund was given by the state government to Sarawak newborns as an investment for the children’s education or for them to start a business.
