KhazanaFoundation

KhazanaFoundation is rated 3 out of 5 in the category empower children. Read and write reviews about KhazanaFoundation. The Children’s Khazana Foundation is an independent organization in the Netherlands founded in 2015 by three female executives in Financial Services. The goal of Khazana is to support initiatives that provide basic financial skills to children who have no access to the banking system. One of these initiatives is the Children’s Development Khazana (CDK) in Mumbai. The CDK works in the slums of Mumbai to support street children by providing them with a system to manage their financial lives and supports them with basic needs and education. These children don’t have access to the financial system, as they are all under 18 years old. Some of them live on the streets and have nowhere to put their money safely. Some children are responsible for other children, other family members or are just alone. Not many think of longer-term goals as they are too busy just getting by. The CDK provides the children with a savings account, teaches them about longer-term goals, provides education about the banking system and how money works. Through a number of ‘bank branches’ children can manage their accounts and save small quantities of cash. When they are 18 years old they qualify for a bank account in the normal financial system. The Children’s Khazana Foundation is about early financial empowerment and inclusion. The Children’s Khazana Foundation sponsors the adult facilitators, supports training activities, monitors the progress of the children and savings, and discusses opportunities for further growth in Mumbai. Two children are elected bi-annually, on a rotational basis, to keep the cash books and general ledger, with the help of adult facilitators. All children are encouraged to participate in activities organised to inform them about the financial system, their rights and entrepreneurship.