CYFI Presentation_Making Cents_regulation.pdf - Youth Economic ...

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Armenia• The Civil code allows the guardian to open an accountand make transactions for children under 14.• At the age of 14 the youth can open and have full controlover the bank deposit.• A citizen acquires dispositive capacity in full from the timeof entry into marriage, even if they are under the age ofmajority• Upon attaining sixteen years, minors also have the rightto be a member of a cooperative in accordance with thestatutes on cooperatives.Reshaping the Future of Finance3
Israel• A banking corporation may open a current account for a minorwho is not yet 16 years of age only with the written permissionof the minor’s parents or guardian• Banking corporations may open a current account for aworking youngster without having to obtain the permission ofhis representative.• Working youngsters can overdraw their account up to theamount of their registered monthly salary• 14 year olds are eligible for a restricted debit card forautonomous withdrawals in Israel, limited to 400 NIS/week andno overdrafts.Reshaping the Future of Finance4
Page 1 and 2: Making Cents ConferenceJared Penner
Page 3: Child and Youth Finance National Pl
Page 7 and 8: Philippines• The Central Bank of
Page 9: Thank YouFor aditional information

CYFI Presentation_Making Cents_regulation.pdf - Youth Economic ...

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