Multi-banking is becoming a common trend in South Africa as various businesses, public sector institutions as well as individuals prefer to bank with more than one banking partner. According to an annual business tracking survey done by TMS, 14% of small businesses do not have a ‘main bank’ and this is also prevalent in 26%
Stanbic Bank says keeping account security is a top priority to make customers free from stress of losing their money. According to the Stanbic Bank Head of Channels Farha Mohamed, the bank has a primary role to play in keeping secure the banking details but customers too play vital role in ensuring the account security.
Risks associated with the management of cash transaction are declining, thanks to the introduction of online banking system in the economy. This was said in Dar es Salaam on Tuesday by the NBC Bank, Head of Alternative Channels, Mr Raymond Mutagahywa, at the launch of the online banking services to users of smartphones and tablets.
Transfast, LLC and BRAC Bank Ltd. of Bangladesh announced that they have partnered to enable Transfast customers to make instant bank transfers into accounts at BRAC Bank – the first-ever instant bank deposit service to Bangladesh by a global money transfer company. “BRAC Bank is one of the leading banks in Bangladesh and a pioneer
Exim Bank Tanzania has opened its second branch in Djibouti to extending its services to customers in the Horn of Africa as it continues to widen its reach to customers abroad. The Governor of The Central Bank of Djibouti, Mr Ahmed Osman, speaking at the inauguration ceremony on Monday, congratulated Exim Bank’s efforts to bring its
The Bank of Tanzania (BoT) wants non-performing loans (NPLs) in commercial banks to go down to comfortable zone of 5.0 per cent for purposes of protecting depositors’ money. The central bank said though the level is around 7.0 per cent, the risk level is, however, lower compared to other countries in the East African Community
Mwalimu Commercial Bank, which is in the process of formation, is expected to bring about stiff competition in the country’s banking industry because of the huge number of employees in the teaching fraternity. The bank, expected to float its initial public offer (IPO) next Monday, is a threat to mainstream banks as it will accumulate a
Backed by a staggering over 9.6bn/- financial muscle and over 12,476 members, Tanzania Prisons Savings and Credit Cooperative Society (TPS-SACCOS) has everything to convince Bank of Tanzania (BoT) Governor, Professor Benno Ndulu grant them commercial banking licence. Home Affairs Minister, Mr Matthias Chikawe, told representatives of TPS SACCOS Ltd that growth of the savings and
Xoom Corporation, a leading digital money transfer provider, now offers instant deposits to most banks in Pakistan through HBL. Pakistanis in the U.S. can now use Xoom to instantly send money to their loved ones’ rupee account anytime, anywhere, using any device. Xoom’s instant service is available 24 hours a day, seven days a week,
SA banks have achieved slightly higher customer satisfaction scores than last year, although expectations seem to be rising, according the South African Customer Satisfaction Index (SAcsi) released. The overall score was 76.3 out of 100 (2013: 75.6). The banks measured were FNB, Absa, Nedbank, Standard Bank and Capitec. They were selected on the basis of
