NMB bank yesterday opened a new branch in Busega District, Simiyu Region making it the 225th outlet nationwide with a promise to the locals of better services and affordable loans.<\/p>\n
Presiding over the occasion, NMB Acting Managing Director, Ruth Zaipuna, noted that new branch in the rural area would serve mostly farmers and livestock keepers in line with the government directive to ease financial services to the citizens.<\/p>\n
However, she emphasized that soft loans would be extended to small, medium and large businesses, and in particular peasants as inputs for their farming activities.<\/p>\n
\u201cThrough NMB Foundation, the bank also provides financial management education to farmers through their Amcos, and all kinds of insurance and online payment,\u201d said Ms Zaipuna.<\/p>\n
<\/p>\n
The acting director further said that apart from opening more branches, their customers would also be able to open accounts with ease via their mobile phones without necessarily visiting the bank\u2019s branches and hence, asked those in the rural areas to utilize the service.<\/p>\n
Ms Zaipuna that said through their Corporate Social Responsibility (CSR), they have allocated over 1bn\/-to finance various community development projects, with Simiyu Region in particular receiving more than 200 m\/-to implement its education and health projects.<\/p>\n
Addressing the public during the branch launch, the Vice- President Ms Samia Suluhu thanked the bank for its good performance, adding that it was supporting the government to earn over 586 bn\/-through various taxes and levies.<\/p>\n
Equally, she applauded NMB for allocating and spending over 5 bn\/-to finance development projects through its CSR, saying: \u201cStable financial sector services is an important segment in the country\u2019s economic development, which the bank is occasioning through its strengthened operations.<\/p>\n
However, the government would continue to create a better business environment for all banks and financial sectors to do business.\u201d<\/p>\n
Meanwhile, the Deputy Minister of Finance and Planning, Dr Ashatu Kijaji earlier ordered the Bank of Tanzania (BoT) to meet with banks and financial institutions to determine how to reduce loan interest rates.<\/p>\n
Dr Kijaji said the government through BoT had already reduced interest rates on banks and financial institutions from 16 percent in 2016 to seven percent, therefore, the relief should go down to the public.<\/p>\n
\u201cCommercial Banks and financial institutions have continued to charge interest rates between 17 and 20 percent despite the BoT interest rates reduction from 16 percent in 2016 to seven percent,\u201d she said.<\/p>\n","protected":false},"excerpt":{"rendered":"
NMB bank yesterday opened a new branch in Busega District, Simiyu Region making it the 225th outlet nationwide with a promise to the locals of better services and affordable loans. Presiding over the occasion, NMB Acting Managing Director, Ruth Zaipuna, noted that new branch in the rural area would serve mostly farmers and livestock keepers […]<\/p>\n","protected":false},"author":84,"featured_media":4918,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8],"tags":[2571,438,1451,76],"class_list":["post-4924","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","tag-busega-district","tag-nmb-bank","tag-ruth-zaipuna","tag-samia-suluhu-hassan"],"yoast_head":"\n