Azania Bank plans product to target Tanzanians in the diaspora

Managing Director Charles Singili

By GEOFFREY NANGAI

AZANIA Bank Limited plans to roll out a new product that will target Tanzanians in the diaspora in a bid to enable them manage their finance while away from home, the bank’s Managing Director Charles Singili has said.

Speaking to reporters in Dar es Salaam shortly after the launch of the bank’s  internet banking product at the weekend, Singili said the ‘diaspora banking product’ will help attract more customers to the bank adding that it will be a more convenient way for Tanzanians living abroad to remit their cash directly to their accounts.

“The product will be a more convenient and reliable way for Tanzanians in the diaspora to send their cash back home and also manage such cash directly through their accounts. This will be supported by the internet banking product we have launched today,” he said.

Commenting on the bank’s new internet banking product, Singili said the internet banking offers stress-free banking services enabling clients to make banking transactions at their own pace.

“With the launch of our internet banking product, our customers will now be able to make various transactions among which include paying bills, balance inquiry and mini balance statements upon registering for the product.

“Internet banking is a new trend in the banking sector globally, we do not want to be left out since the product simplifies customer service delivery,” he said.

He added that his bank will embark on an expansion drive that will see the bank open up new branches throughout the country in a bid to take services closer to its customers.

He however urged banks to come up with products that will cater for many people in the country especially in rural areas who remain unbanked (85 percent).

The Tanzania Communications Regulatory Authority (TCRA) Director General Professor John Nkoma during the event however cautioned the public to be security cautious so as to minimize chances of cyber-related crimes.

“One needs to take caution of the security features that includes passwords when dealing with internet banking. You should not give your password to any one for the safety of your money and where need be, change the password often,” he said.