Dar es Salaam. I&M Bank Tanzania is targeting to have at least 500 agents by the end of this year after unveiling its new service.
The bank launched the agent banking service yesterday, promising
more investment in technology so that it can compete in providing digital
banking solutions to its customers and support the government in its financial
inclusion agenda.
Speaking during the official launch of the agent banking service
yesterday, the bank’s chief executive officer, Mr Zahid Mustafa, said the
agents have become the most effective way of serving customers in the last five
years. “People currently prefer mobile banking to branches,” he said.
“This is an initiative that
our customers are asking for, and we are happy that today we are able to launch
it. We have 250 agents, and our plan is to increase that number. Our plan is to
go completely digital as people are moving from physical services.”
He said agents help customers minimise the time spent travelling
to the branches seeking service.
On the other hand, the acting head of consumer banking, Ms Deepali
Ramaiya, said the launch of agent banking has come at a time when the
government has put a lot of emphasis on financial inclusion.
“This is our effort to be part of the financial inclusion agenda.
We do not support our customers alone, but our agents will also receive a good
commission by the end of the month,” she said.
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