Tanzanian Finance Ministry working to establish Community Banks

Apr 22, 2013

Tanzanian MPs have been urged by the Deputy Finance Minister to collaborate with the government in mobilising the public to establish community banks.

Tanzanian MPs have been urged by the Deputy Finance Minister to collaborate with the government in mobilising the public to establish community banks.

According to Saada Mkuya Salum - speaking on Wednesday (April 16th) -
such establishments will enable people to access banking services in areas which are not covered by conventional banks, Tanzania Daily News reports.

"The existing Banking Services Policy allows establishment of community banks and I thus urge MPs to work with the government to mobilise the people to establish community banks and also attract banks to open branches in their areas," he said.

He added that the government has continued to put in place a safe and conducive environment to enable the private sector to establish banks and offer banking services to the people.

He also mentioned that the development of mobile technology will offer banking services to people in remote areas who do not have access to physical branches.ADNFCR-2976-ID-801574663-ADNFCR