The Bank of Tanzania (BoT) said that the USA’s Financial Crime Enforcement Network (FinCEN) final ruling will have an effect for the future of FBME Bank. The FinCEN recently ruled that FBME was linked to money laundering and that prohibits the US financial institution from opening or maintaining correspondent accounts or payable on behalf of
Emerging Markets Payments (EMP), the leading electronic payments processing company in Africa and the Middle East, is pleased to announce that it is now working with Premier Bank, its first customer in Somalia. Working together, EMP will deliver debit and prepaid issuing services, as well as ATM aquiring throughout the Premier Bank network. As a
Airbnb, the world’s leading community-driven hospitality company, announced that its CEO, Brian Chesky will attend GES 2015 to meet with entrepreneurs from around the world and explore the sharing economy’s impact and expansion, particularly on the African continent – which represents a huge opportunity for the company. In the last twelve months alone, Airbnb has more
FBME, one of Tanzania’s largest commercial banks, has been cut off from accessing the US financial system on suspicions that the bank has facilitated money laundering, terrorist financing and organised crime. However, in an exclusive interview with the ‘Sunday News’ yesterday, the Treasury Registrar, Mr Lawrence Mafuru, allayed fears that the bank will cease to
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
HomeSend and Azimo announced the launch of new mobile wallet services in ten countries throughout Africa and Asia-Pacific – reaching millions of mobile money subscribers. Azimo customers in 20 European countries are now be able to send funds to mobile money accounts of loved ones in Armenia, Burkina Faso, Fiji, Ghana, Indonesia, Kenya, Nepal, Nigeria,
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
Equity Bank Group launched Equitel, a new mobile payment and banking platform for its customers –that officially brings to the fore the convergence between mobile and banking services in Kenya. The Bank has hailed its newest innovation as the answer to promoting greater access to banking services which currently stands at 53 percent of the
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
