Friday, 21 February 2014

NMB simplifies internet banking

National Microfinance Bank (NMB) has launched internet banking service targeting corporate organisations in a bid to ease payments.

The service will facilitate transactions from current accounts like electronic fund transfer (EFT), payment through Tanzania Interbank settlement system (TISS) and view exchange rates, Gerald Kamugisha, NMB head of transactional banking said.
“We aim at simplifying transactions by reducing cost in terms of time and charges for the business community. This is one way of retaining our customers and improve banking environment in the country,” said Mr Kamugisha.
He said the bank was in talks with the government to allow its departments and agencies use the system for payment.
NMB also allows its customers to transfer money from their accounts through mobile phones – Tigo Pesa and M-Pesa.
The bank also said it will soon open a branch at the port of Dar es Salaam and operate 24 hours a week.
“Our intention is to facilitate port operations especially payments as the port announced to operate 24 hours. The bank has signed a memorandum of understanding with the government, port and other stakeholders to provide the service,” he said.
The bank recorded a profit of Sh132.496 billion in the quarter ending December 31, 2013 compared to Sh95.980 billion recorded in the quarter to September 30.

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