Exim Bank Tanzania held its first monthly draw of its recently launched fixed deposit campaign which aims at fostering a savings culture. The draw, which was supervised by the Gaming Board of Tanzania (GBT), was the first of six monthly draws that will be conducted as part of the promotion. Mr Aloyse Maro, the bank’s
CRDB Bank partners with Maxcom Africa to offer banking services to those left out of the financial band using the latter agents. Under the agreement signed in Dar es Salaam, CRDB announced Maxicom Africa as its agency bank super dealer under the FahariHuduma flagship. CRDB’s Managing Director, Dr Charles Kimei, said the move behind the
Tanzania has set a new financial inclusion goal of 75 per cent to be reached in 2016. The new target comes as the country surpassed the goal of 55 per cent in 2014, which was supposed to be reached in 2016, thanks to mobile phone money transfer. Tanzania Bankers Association Chairman Dr Charles Kimei said
Ecobank Tanzania launched its annual customer service week, an opportunity for the bank’s senior management to interact with the customers. Ecobank’s Head of Domestic Banking, Mr Joyce Malai, said in Dar es Salaam that “Every decision that the bank makes revolves around customers, they are our biggest asset and therefore it is crucial to ensure
The Bank of Tanzania (BoT) has waived 80 per cent loan to deposit ratio restriction, a move aimed at enabling banks to extend more credit facilities to their clients. The BoT said the restriction was removed last year and banks allowed to lend without the previous ratio but control their liabilities versus assets. The BoT
In a bid to boost export earnings, Stanbic bank has assured the business community of the availability of pre-export finance to facilitate smooth trade flow. Stanbic bank Head of Trade Finance Mr Charles Kapufi said in Dar es Salaam that lack of cost efficient trade finance has been a hindrance for exploiting economic and employment
Bank M said it is on the right track of realising its profit target of 25bn/- from its operations this year, after good performance during the first half, reflecting a bright future for the institution. The bank registered a pretax profit rise of more than 25 per cent to 11.51bn/-in first half of the year
CRDB Bank mobile branch has proved efficient in providing banking services to foreign and domestic companies participating at the ongoing Dar es Salaam International Trade Fair (DITF). CRDB bank In charge of the mobile branch Ms Rose Daniel said in Dar es Salaam at the ongoing DITF that the presence of the mobile branch has
TIB Development Bank has emerged winner in the Financial Institutions category at the ongoing 39th Dar es Salaam International Trade Fair for two years in row. Having recently acquired their licences to operate as a development and commercial bank under TIB Development Bank and TIB Corporate Finance respectively, the bank is now ready to provide
After five years of laying down the groundwork, the National Bank of Commerce (NBC) has finally started giving out loans through its Islamic Banking Window, it was announced. The bank officially started issuing Shariah-complaint loans — under its five-year old Islamic Banking Window — six months ago, Business Development Manager, Mr Eddy Mhina said at
