NMB urged to invest more in forex ATMs

NMB Bank on Monday launched a commemoration of the Customer Service Week nationally in Zanzibar with a call for the top lender to increase investment on currency conversion service, using special Foreign Exchange Automated Teller Machines (FX-ATMs).

The debut of the first currency converting ATM in the isles and the third it has deployed in the country was one of the three events the bank used on that day to, among other things; highlight its customer-centric stance and how it highly regards the advancement of social welfare.

The Deputy Permanent Secretary in the Ministry of Works, Infrastructure and Transport, Mr Shomar Omar Shomar lauded NMB for the FX-ATM investment, adding that it will be a boon for the blue economy.

He noted further that Tanzania urgently needs many more of FX-ATMs to timely enjoy their digital finance benefits and fully exploit the less cash economy potential they possess.

“More of these machines should be urgently deployed in all targeted places where they are supposed to help improve the provision of the service to convert foreign exchange,” he said.

As a pioneer of the service in the country, he said NMB is obliged to deploy them strategically across the country, especially in areas where they can deliver more value notably in the travel trade sector and the entire national economy at large.

The bank ushered the service into the country in 2020 by installing the first FX-ATM at the Julius Nyerere International Airport (JNIA) in Dar es Salaam, followed by the northern tourism circuit at Kilimanjaro International Airport (KIA) recently.

The second event to mark commencing of the NMB national customer service celebrations was a corporate giving activity through three social investments worth over 20m/- in the education sector and support of people living with disabilities.

It also organized a networking breakfast session for customers and other stakeholders, where they shared notes on how to cement their business relationship with the bank providing lessons on several commercial aspects and financial management.

After receiving the 100 desks NMB acquired for Regeza Mwendo and Chunga schools as well as iron sheets for Fuoni School plus the items whose procurement the bank financed, Mr Shomari rooted for the importance and relevance of corporate philanthropy in national building efforts and improvement of the delivery of social services.

Speaking before the launch of the FX-ATM, Chief Internal Auditor Benedicto Baragomwa said the three events reflected the success story of the bank and its contribution to national development especially in fulfilling the blue economy agenda.

“In commemorating Customer Service Week this year, we are launching a vital digital finance solution of a foreign exchange service ATM here at the Amani Abeid Karume International Airport, which is the main tourist gateway for Zanzibar and the whole of Tanzania,” Mr Baragomwa said.