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
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
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
Online money transfer service WorldRemit has partnered operator Tigo Tanzania to allow individuals sending money to friends and family living in Tanzania to have the funds delivered to a Tigo Pesa mobile wallet. The deal is available for customers sending money from the 35 countries in which Tigo has a presence, with the companies saying
The Deputy Minister for Community Development, Gender and Children, Dr Pindi Chana has urged women to utilise services of commercial banks to lift their standards of living. Speaking during the opening of Tanzania Women Bank (TWB) branch at Makambako over the weekend, Dr Chana said women in the area should seize that opportunity and make
Barclays Tanzania Limited has launched paperless banking product to its customers in move aimed to enhance the quality in delivery of its services. Speaking during the official launching ceremony in Dar es Salaam at the weekend, Barclays Retail Director, Mr Kumaran Pather, said that the service was designed to facilitate much ease in financial transactions.
The National Microfinance Bank (NMB) sound business model and exceptional performance are among the aspects that made the bank to scoop the award of the best bank in Tanzania. The NMB Chief Executive Officer, Mr Mark Wiessing, said the award was a testament of the achievements that the bank had registered across its core retail,
M-PAWA, a new banking product introduced by Commercial Bank of Africa and Vodacom has raked in 1.2bn/- in three weeks only after it was launched. Vodacom Tanzania’s Managing Director, Mr Rene Meza told the ‘Daily News’ that the money were savings from 50,000 people who had registered for the new service that allows customers to
A Micro Finance Act to regulate micro finance services in Tanzania is in the offing, the National Assembly was told. Deputy Finance Minister Mwigulu Nchemba said the government had since 2013 engaged a consultant from the Economic and Social Research Foundation (ESRF) to review the country’s national micro finance policy of 2000 and propose changes
