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NMB UNVEILS PENSION SOLUTION FOR SELF-EMPLOYED TANZANIANS

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NMB Bank has debuted a special savings and retirement service package for self-employed Tanzanians that guarantees them a secure financial future.

Trading as NMB Jiwekee, the novel solution unveiled on Monday in Dar es Salaam is expected to benefit many people in the informal sector where pension uptake is still very limited.

Retail Banking Chief Filbert Mponzi said the innovation has many benefits, including life insurance coverage that has indemnity of up to TZS 50 million.

“NMB Bank has had similar solutions to support Tanzanians and help our customers but this one is a bit different because it has a long term added value advantage,” Mr Mponzi noted.

He added that eligibility to join the service requires only commitment of the percentage to be deducted from whatever amount is deposited in the customer’s account.

Read more details via this Source: http://ardenkitomaritz.blogspot.com/2024/05/nmb-unveils-pension-solution-for-self.html

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More about NMB Bank PLC:_

NMB Bank Plc is a well-established commercial bank in Tanzania, offering a variety of financial services to individuals, small and medium-sized businesses (SMEs), large corporations, and the agribusiness sector. Here’s a breakdown of key points about NMB Bank Plc:

  • Established: Founded in 1997, NMB Bank has a long history in the Tanzanian financial sector.
  • Licensing and Regulation: It is licensed by the Bank of Tanzania, the central bank and national banking regulator.
  • Financial Strength: As of 2022, NMB Bank had total assets valued at approximately US$4.106 billion (TSh 10.2 trillion) and boasted over 6 million customer accounts. They are ranked as the 3rd most profitable bank in the East African Community.
  • Services Offered: NMB Bank offers a comprehensive suite of financial products and services, including:
    • Loan products for individuals, SMEs, large corporations, and agriculture/livestock/fisheries sectors.
    • Savings and transaction accounts for individuals and businesses.
    • Investment products.
    • Debit and credit cards.
    • Mortgages.
    • International trade finance services (e.g., export/import financing, letters of credit).
    • Treasury services.
    • Mobile and internet banking for convenient access to accounts.
  • Market Position: NMB Bank was the second-largest commercial bank in Tanzania by assets in September 2023, trailing behind CRDB Bank Plc.
  • Social Responsibility: NMB Bank has a foundation dedicated to promoting inclusive and equitable societies through strategic partnerships, aligning with Tanzania’s Development Vision 2025 and the United Nations Sustainable Development Goals.

Overall, NMB Bank Plc appears to be a prominent and established financial institution in Tanzania, offering a wide range of financial products and services to various customer segments. They are committed to responsible banking practices and contribute to the country’s development goals.

Read more details via this Source: http://ardenkitomaritz.blogspot.com/2024/05/nmb-unveils-pension-solution-for-self.html