Good news to the newborn from January 2018 till 2022.
These newborn babies are entitled for an incentive of RM200 from The Amanah Dana Anak Malaysia 2050 (ADAM50)
On the Malaysia Budget 2018, it was announce that new ADAM50 rule last year. ADAM50 is a special free incentive worth RM200 in the form of unit trust which was announced by Prime Minister Datuk Seri Najib Tun Razak in Budget 2018.
The introduction of this scheme is intended to encourage parents to start saving for their children for their future.
So how will the incentive be credit to you? Here is how the ADAM50 will be credited.
For bumiputra babies, the amount will be credited into Amanah Saham Bumiputera (ASB), while non-bumiputra babies will have the incentive put in Amanah Saham 1Malaysia (AS 1Malaysia) accounts.
You can simply just make your registration at any Amanah Saham Nasional Berhad (ASNB) branch or through appointed ASNB agents which includes majr local bank like Maybank, CIMB, RHB, Affin Bank, AmBank, and Pos Malaysia.
You will need to bring the following documents registration:
- Parent’s or legal guardian’s identification card;
- The child’s MyKid or birth certificate;
- Relevant supporting documents such as court documents if the legal guardian is not the biological parent of the child.