Every Approved Person in respect of the Approved Institutions needs to maintain the following records on Child Development Account (CDA) deductions for a period of 3 years from the date of withdrawal: • Account number of the CDA out of which payment is made • Name of child who is the CDA member or the child’s sibling • The relationship between the CDA member and the member’s sibling, if payment is made for the benefit of the member’s sibling • Amount deducted from the CDA • Mode of payment (CDA GIRO or CDA NETS) • Purpose of payment • Transaction date and other transaction details (if applicable) The records and supporting documents shall be maintained in a format which can be retrieved for checks and verification by MSF.