NMB Bank, one of the top lenders in the land, has introduced a special banking scheme in recognition of the role of teachers in nation building and their contribution to the success story of the bank.
The innovative service arrangement dubbed “Mwalimu Spesho – Umetufunza Tunakutunza” was unveiled recently in Songea, Ruvuma Region, during the NMB Teachers Conference held in the district.
The NMB Head of Personal Banking, Ms Aikansia Muro, said Mwalimu Spesho is a banking solution incorporating services for empowering teachers through various opportunities available at the bank.
“‘Mwalimu Spesho’ comprises all services to empower them,” the NMB official told the conference participants.
The services in the package include low-interest loans such as those for financing teachers’ further education as well as educating their children. There are also microloans, construction credit and loans for procuring vehicles including motorcycles and three-wheelers.
“We strongly believe that these over 200 teachers will help to pass on the knowledge they have acquired here about good services provided by NMB Bank to their colleagues and families as well as the whole society in general,” she pointed out.
With about 20 million Tanzanians without a bank account but most of them owning mobile phones, NMB has leveraged on the power of digital technologies to incorporate many people info the formal financial system.
“Through these digital financial solutions, NMB Bank now undertakes 94 per cent of its transactions through mobile telephony,” Ms Muro noted adding that the bank has recently debuted three major digital finance services that have transformed the local banking terrain.
The teachers will also be entitled to Insurance Premium Finance (IPF) to enable them insure life and property. They will equally access finance to acquire farming inputs and machinery as well as participating in promotional drives and acquiring financial education plus many other benefits.
Ms Muro said the teachers’ conference was a special day that brings together the bank and its teaching clientele for notes sharing on various issues including getting feedback on how to better serve them.
It is also an opportunity for enlightening teachers on the progress of the bank and the many opportunities it has for them.
The Ruvuma Regional Commissioner Col Labani Thomas, said NMB was unrivalled when it comes to serving teachers and the whole of Tanzania.
“In terms of savings and lending products, NMB is among the top banks in innovating solutions that cater for various market segments, including teachers and society as a whole,” Col Labani said.
