Tanzanians have been urged to build and strengthen a culture of saving through banks and other financial institutions for their own benefits and the country’s economic development. Talking to journalists in Dar es Salaam, the Deposit Insurance Board (DIB) officials said the culture of saving through banks enables depositors access loans for their development. The
Members of the public in Tanzania may soon start accessing credits on competitive terms, thanks to the Credit Reference Bureau (CRB), that commercial banks have embraced amid optimism that the data base will help to extend financial services to more people, a new study has shown. CRB is the database for consumer credit information that
Standard Bank Group shows the best financial health of all the financial institutions on the African continent, according to The Banker Top 1000 World Banks 2014 rankings. They top the list in Africa with Tier 1 capital of US$10.57-billion and pre-tax earnings of US$2,9-billion. However, the list also shows that they slipped in the global
Fiserv, Inc. a leading global provider of financial services technology solutions, and Anthony Thomson, co-founder and former Chairman of Metro Bank and founder of Atom Bank, have announced Agiliti, a state-of-the-art technology and services solution that enables speed-to-market for new entrants into the UK banking sector and rapid delivery of new capabilities for existing financial
Local microfinance personnel affiliated to Unit Trust of Tanzania (UTT) are undergoing a week long training on how to provide services to the majority un-bankable rural folks with Bangladesh experience. Touted as a model in having microfinance institutions (MFIs) serve the majority rural farmers who have been denied banking services by commercial banks, Bangladesh has
TIB Development Bank has completed the process to establish a subsidiary that will focus on corporate financing. The new entity, TIB Corporate Finance Limited, will focus on corporate banking business in all its branches and agencies. TIB Managing Director, Mr Peter Noni, said that with the separation of activities, the bank will be able to
United Bank for Africa (UBA) has become the first Nigerian bank to offer transaction notifications on Twitter for its customers. UBA said the solution is based on a secure custom application it had built and enables its customers to receive bank transaction alerts directly on Twitter. “Dear Customer, we are happy to inform you that
Members of the Kenya Bankers Association (KBA), the banking industry umbrella body, appointed their Governing Council during the KBA 52nd Annual General Meeting that was held on 26 June 2014. The new Governing Council will serve for a period of 12 months under the chairmanship of Joshua Oigara of Kenya Commercial Bank (KCB), and vice
State Bank of India (SBI), the nation’s largest bank, has launched six digital branches across the country, as part of a pioneering program to offer next generation banking solutions to India’s growing mobile phone and internet-savvy customer base. The bank engaged Accenture to develop the digital business strategy for its branch program, which features a
In a bid to provide efficient and secure services, CRDB Bank has further improved its SIM Banking to accommodate new features that give customers the conveniences to perform more transactions at any location in the world. Mobile phones have clearly shown that they can be an effective channel to provide financial services including remittances, savings
