Islamic banking products are for all Tanzanians irrespective of their creed, Deputy Minister for Finance and Economic Affairs, Ms Saada Mkuya Salum, said in Dar es salaam over the weekend.
The Deputy Minister for Finance, Ms Saada Salum Mkuya.
The Deputy Minister said this during an Iftar organised by the National Bank of Commerce (NBC) for its customers in the city, stressing the the products were introduced in the country at the right time. “These are services that are a compliant to Islamic rules and regulations.
They are ethical services and it is the government’s pleasure to witness that ethics are now observed in delivery of financial services. “The community that strictly observes ethics can build strong and developing economy”, the Deputy Minister said and asked NBC to also venture in providing loans basing on Islamic rules and regulation, saying the move would be of great benefit to bank’s customers.
She said it was the time for NBC to educate people on the benefit of Islamic Banking products that are open to all the bank’s customers, regardless of their religious beliefs. “We hope that many Tanzanians will benefit from NBC especially when you will introduce Islamic Banking loans; the loans with no interest.
Interest stands as a big barrier to many of us who needs financial assistance through loans,” she said. Speaking at the event, NBC Managing Director, Ms Mizinga Melu promised the Deputy Minister that the bank would not stop in its move to assist in the implementation of the government’s promise for “better life for every Tanzanian.” “We are ready and prepared.
NBC is conveniently everywhere. We will use our branches spread all over the country to reach Tanzanians living there and providing them better financial services they never got,” she said.
