Bank tasked over ‘ghost customers’

It was all cheers as VisionFund Tanzania, a new banking facility, was officially inaugurated in Arusha the other week with prospects that it would boost small businesses and reach out to rural farmers.

Euromoney magazine has named the NMB Bank, the best financial institution in Tanzania at the Euromoney 2014 Awards for Excellence in London for the second year in a row.

>Clients with Maendeleo Bank will now no longer be required to move with hard cash to and from the branches as they can easily make financial transactions electronically via their mobile phones.

>Stanbic Bank has bust an inside fraud syndicate in which the schemers attempted to siphon at least Sh8.6 billion of pension money stashed away on fake accounts in the bank.

Stanbic Bank Tanzania has been made aware of the Parliamentary report regarding IPTL and the Tegeta Escrow account and the associated suggestion that the Bank might have permitted money laundering through banking an affected party. 

We are satisfied that Stanbic Bank Tanzania has complied with all of its anti-money laundering obligations and co-operated fully with the authorities in their investigations. We wish to reassure our customers that Stanbic Bank Tanzania has stringent and robust...

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Prime Minister Mizengo Pinda was supposed to be included on the list of those to be disciplined over the Tegeta Escrow Account saga because, as a leader of government business in Parliament he failed in some aspects, a cross section of Zanzibar residents has said.

Geita regional commissioner Saidi Magalula on Tuesday ordered the arrest of four cotton seed suppliers for selling illegally inputs and pesticides to farmers in the region. He issued the order during the cotton stakeholders’ meeting held here.