Bank of Kigali scraps fees for the Diaspora

Aug 15, 2011

Bank of Kigali has introduced changes that it hopes will make it easier for Rwandans living aborad to transfer money back home.

Bank of Kigali has introduced changes that it hopes will make it easier for Rwandans living abroad to transfer money back home.

The organisation announced that members of the Diaspora will now be able to send funds to Rwanda without paying any fees, the New Times reports.

As well as allowing them greater access to financial services, Rwandans living abroad will also be able to open their own bank accounts.

This should, in turn, help to support the country's development.

Janvier Mucyo, Marketing Manager at Bank of Kigali, told the newspaper that the organisation is also facilitating internet banking for members of the Diaspora.

"We help repatriate their money, free of charge, or free of transfer charges. Depending on a case by case basis, we don't charge them when they are withdrawing any foreign currency," the representative added.

Last month, the New Times reported how Bank of Kigali launched a campaign encouraging low-income earners to purchase shares in the financial firm.ADNFCR-2976-ID-800699677-ADNFCR