Rwanda : KCB introduces ‘Diaspora banking’
The management of KCB Bank has brought an extraordinary product of the ‘Diaspora banking’ which will enable its clients living abroad be able manage their finance while away from home, and send funds to their families easily.
On this platform of Diaspora banking, KCB offers savings products that can see you to development and at the same time give you a banking experience of just a similar manner as if banking at home on your account.
KCB Rwanda Managing Director Maurice K. Toroitich said during the launch of the product at the bank’s headquarters in Kigali, that the product is being rolled out not as a way of attracting more customers to the bank but mainly in an endeavor to increase value for our products.
“This platform will offer simplified, convenient and reliable means for the Diaspora to remit their cash back home as well as manage how this cash is spent directly through their account. It saves from the pain of misusing one’s hard earned cash leaving every party happy at the end,” he said.
KCB Diaspora banking has been rolled out in all the 6 countries where the bank operates; the five East African member states and South Sudan at a cost of USD445, 000 and according to the managing director, the product is serviced with the best cyber security system globally.
For the parents’ community abroad, KCB offered a Diaspora Junior account on which one can save as well as earn an interest on the savings for their children’s future, an account transferable to the child at the age of 18 years.
Also through this product, one can access all the services of credit facility, mortgaging and many others just like any national living within the country. The bank is developing a web page for this product.