BANK M NOW OPENS DOORS TO CUSTOMERS

Bank M Tanzania Limited, the latest entrant in the banking sector in the country, has opened its doors to customers.
Promoted by two financial service professionals and major industrial houses in the country under the chairmanship of Nimrod Mkono, a prominent lawyer and Member of Parliament, the new bank focuses on corporate banking targeting the upper end of the mid market and corporate enterprises both in the manufacturing and trading arenas.

The bank, with a paid-up capital of 6.5bn/-, which is 30 percent above the statutory requirement, is introducing innovative products and services which were hitherto unknown to this market. It has come up with new innovative solutions to the growing demands of the new economic order.

Noteworthy among them are the bank?s round-the-clock strategy whereby all branches would be open from 8am to 8pm everyday, including weekends, making it the first bank in eastern Africa to operate extended business days and hours.

The strategy also involves `Money Safe` a night safe depository facility; `Money Mail,` a service which facilitates non-cash transactions without visiting the bank, and ?Money Man,? a unique cash delivery and pick-up service.

Bank M has opened its first branch along Nyerere Road in Dar es Salaam, aptly named Industrial Finance Branch, which is already operational. It would also open more branches in the central business district of the city, followed by Arusha and Mwanza in the near future.

SOURCE: Guardian