R.B
JF-Expert Member
- May 10, 2012
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THE government has urged all banks in the country to reduce lending rates to customers and expand their operations to small and medium enterprises (SME's) and boost the country's economy. The call was made here recently by the Deputy Minister for Finance, Ms Saada Salum at a ceremony for Access Bank (Tanzania) Mwanza branch which was also attended by regional officials and the business community.
"Banks are supposed to reduce lending rates because I am informed that some banks charge as high as 21 per cent interest rate while offering very little interest for savings," she said.
She said reducing lending rates will not be a problem because the government will create conducive environment through the Bank of Tanzania by establishing credit references for bankers.
Apart from commending Access Bank Tanzania Mwanza branch for assisting communities and particularly by creating 500 jobs within five years of its operations in the country, she encouraged other banks to emulate efforts shown by the bank.
"This is a wonderful commitment the bank has made towards our people and especially to the youths, I encourage the bank and other banks to do the same," she said.
Access Bank Board Chairman, Justice (rtd) Thomas Mihayo assured Mwanza residents that the bank is corruptfree and urged them to make use of the bank's services to improve both their incomes and the country's economy.
"Our motto is to be corrupt- free, if anyone here in Mwanza is asked for a bribe by any of our member of staff let us know and we will deal with him or her immediately," he said.
The bank's Executive Director, Mr Roland Coulon said that Access Bank Tanzania is a commercial bank which was established for the aim of providing financial services to small and medium enterprises in the country so as to increase their incomes.
"Banks are supposed to reduce lending rates because I am informed that some banks charge as high as 21 per cent interest rate while offering very little interest for savings," she said.
She said reducing lending rates will not be a problem because the government will create conducive environment through the Bank of Tanzania by establishing credit references for bankers.
Apart from commending Access Bank Tanzania Mwanza branch for assisting communities and particularly by creating 500 jobs within five years of its operations in the country, she encouraged other banks to emulate efforts shown by the bank.
"This is a wonderful commitment the bank has made towards our people and especially to the youths, I encourage the bank and other banks to do the same," she said.
Access Bank Board Chairman, Justice (rtd) Thomas Mihayo assured Mwanza residents that the bank is corruptfree and urged them to make use of the bank's services to improve both their incomes and the country's economy.
"Our motto is to be corrupt- free, if anyone here in Mwanza is asked for a bribe by any of our member of staff let us know and we will deal with him or her immediately," he said.
The bank's Executive Director, Mr Roland Coulon said that Access Bank Tanzania is a commercial bank which was established for the aim of providing financial services to small and medium enterprises in the country so as to increase their incomes.