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Say
no to poverty, start a journey
to affluence
CRDB
Bank, through its newly formed
CRDB Bank Microfinance Company
(MFC) Limited, offers a
range of services to people
who were formerly denied access
to the services through formal
banking institutions.
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CRDB MFC
Limited offers services to intermediary
Microfinance Institutions formed by
individuals, normally as Savings and
Credit Cooperative Societies (SACCOS),
Savings and Credit Associations (SACAS),
Financial NGO's, and Community Banks.
The beneficiary MFI's, in turn provide
financial services to their individual
customers.
The CRDB MFC Limited was started
by end of 2004 following three years
of successful implementation of a
microfinance pilot project which covered
four regions of Mainland Tanzania
namely Morogoro, Dodoma, Iringa and
Mbeya. The Bank has demonstrated its
capability in Changing lives through
microfinance in Tanzania
.
Establishment of a subsidiary company
is intended to cater for micro financing
needs of the market ushers in a new
era in the Bank's business strategy
that allows the ordinary Tanzanians
to access the financial services.
Services offered by the company cover
the following areas
1) Technical Support to Microfinance
Institutions
Using a team of experienced and highly
competent specialist officers, CRDB
Bank supports partner MFI's through
training and advisory services. Trainings
offered covers topics, which are tailored
to meet the unique needs of the MFI's
so as to facilitate adherence to best
practices
2) Loans to meet various financial
needs of partner MFI
CRDB MFC lends to MFI's at the most
affordable yet negotiable interest
rates. The lower rates offered by
the Bank enable MFI's to lend to consumers
at very affordable rates and still
make a reasonable income to cover
for its operational costs and make
a profit. Currently we offer:
i) Business
loans
ii) Emergency
loans
iii) Agricultural
loans
iv) Special
loans for women
3) Bank accounts
On behalf of the parent company, CRDB
MFC Limited also offers various types
of accounts to cater for the banking
needs of the partner MFI's. The account
on offer include:
i) MFI
Juhudi Accounts
ii) Current
Accounts
iii) Fixed
Deposit Accounts
iv) Savings
Accounts
4) Other services offered by CRDB
MFC Limited on behalf of the parent
company are:
a) Money
transfers
b) TemboCard
Services
c) Insurance
Services
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