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CRDB, WorldRemit partner to eases money transfers

CRDB, WorldRemit partner to eases money transfers

CRDB Bank and WorldRemit, digital payments firm, on Tuesday partnered to make it easier for Tanzanians to process international online money transfers.

This new service will allow Tanzanian diaspora from over 50 countries worldwide to send remittances to a network of over 260 CRDB branches.

CRDB’s Director of Retail Banking, Boma Raballa, said the milestone partnership allows Tanzanian diaspora to effortlessly send money back home and provides their friends and families with the ability to receive and withdraw the funds through the bank.

“With so many Tanzanian nationals working abroad, we’re committed to making money transfers convenient and as stress-free as possible. The service is fast and comes with low money transfer fees,” Mr Raballa said.

According to the Bank of Tanzania, Tanzanians across the world remitted an estimated 189.13million US dollars last year.

Together, WorldRemit and CRDB are improving financial inclusiveness and helping support economic growth by making it easier and quicker for Tanzanian diaspora to send their remittances back home.

WorldRemit has previously reported that these international remittances by overseas customers make it possible for approximately 10,000 children in Tanzania to attend school and afford school supplies.

“Currently customers can transact at any of our 260 branches and soon to over 20,000 of our CRDB Wakala (Agent) in Tanzania,” Mr Raballa said.

The Tanzanian Country Director and Head of East Africa for WorldRemit, Ms Cynthia Ponera, pinned the agreement as a milestone partnership that streamlines transacting processes between online money transfers and customer services.

“Financial inclusion is at the heart of this partnership. CRDB’s wide network of branches will provide access to Tanzanians across the country, allowing them to withdraw international transfers conveniently through WorldRemit, as well as providing diaspora in over 50 countries access to these services,” she said.

Sharon Kinyanjui—EMEA Director, Receive—said Tanzania is WorldRemit’s third-largest receive market in East Africa after Kenya and Uganda.

“This agreement allows Tanzanian nationals to easily and instantly send and receive money, making financial processes for them and their families as smooth as possible,” Kinyanjui said.

WorldRemit values the safety and security of its account holders’ funds and uses industry-leading technology to safeguard international money against cyber fraud and theft.

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Author: DAILY NEWS Reporter

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