Barclays Bank Tanzania Limited (BBTL) yesterday made its mark in the country’s banking practice, become one of the most digital savvy financial institutions after launching cash deposit automated teller machines (ATMs). BBTL Head of Products, Segments and Retail Strategy, Mr Musa Kikoi, said i-ATMs launched on Wednesday were a range of digitally advanced ATMs capable
The Central Bank of Kenya conducts a survey on remittance inflows every month through the formal channels that include commercial banks and other authorized international remittance service providers in Kenya. In 2014, remittance inflows to Kenya increased by USD 137 million or (11 percent) to USD 1,428.5 million compared with USD 1,290.6 million in 2013.
The KCB Group has emerged the winner for Africa’s premier social and digital media awards, cementing its position as the region’s leading financial institution. The largest Bank in the East African region by asset base and branch network was named the winner for “Best Use of Social Media by a Financial Institution in Africa” during
Stanbic Bank Uganda Limited (Stanbic Uganda) has signed a US$85 million, eighteen month term loan facility in Dubai on 28 January 2015. The transaction, which is a debut Stanbic Uganda transaction was launched in an amount of USD 75 million and an over subscription of USD 15 million was obtained, thus allowing a final take
Airtel Tanzania has unveiled a Near Field Communication (NFC) payment service, that enables holders of Airtel Money accounts settle bills using their cards. Airtel Money Director, Mr Aijaz Khan, said “technology is dynamic. It is key to keep up with emerging global trends by introducing innovative services that will suit the ever growing customer demands.
Stanbic Bank Uganda Limited Board of Directors announced Patrick Mweheire as the bank’s new Chief Executive & Managing Director. Mweheire previously held the position of Executive Director and Head of the Bank’s Corporate and Investment Banking (CIB) Division. “During this time of innovation and transformation, the Board is confident that Patrick Mweheire is the best
THE National Bank of Commerce (NBC) announced the appointment of Dr Kassim Hussein, as interim chairman of the bank’s board of directors. Dr Hussein fills the position left vacant by Professor Mussa Assad who was recently appointed Controller and Auditor General (CAG). NBC Interim Managing Director, Mr Pius Tibazarwa, said in a statement that Dr
EXIM Bank Tanzania has introduced Faida EMV Debit Card to replace the existing Magnetic Stripe Card, in a move designed to enhance the bank’s transactions. Faida EMV Debit Card provides enhanced security through an embedded chip that processes the customer’s data with unparallel security and hence making it virtually impossible to copy or tamper with.
Commercial banks which take up to five working days to clear cheques are violating central bank rules in which the exercise is supposed to be completed within three days. Bank of Tanzania Governor, Professor Benno Ndulu, has ordered the Director of Banking Supervision, Mr Agapiti Kobello, to conduct an investigation on the complaints. “I have
The Central Bank of Kenya (CBK) has granted authority to the Mauritius Commercial Bank to open a Representative Office in Kenya. The authority was granted pursuant to Section 43 of the Banking Act. Representative Offices of foreign banks only serve as marketing and liaison offices for their foreign parent banks and affiliates and are not
