NMB says its Yuan Account aims to attract Chinese tourists

Arusha. NMB Bank Plc officials said at the weekend that it recently introduced a Chinese Yuan (CNY) Account in a bid to woo more tourists from China, the world’s second-largest economy.

The account will enable NMB clients to receive Chinese Yuan (CYN) while in China and send the same currency inbound and outbound.

This was announced here at the weekend by the bank’s Chief Internal Auditor, Benedicto Baragomwa, at a forum organised for the visiting travel agents from China.

“As the number one bank in Tanzania, we are capable of supporting loans and guarantees for a single borrower up to $135 million,” he said.

During the forum at an Arusha hotel, the Chinese travel agents, tour operators, and Chinese media were assured of better handling of visitors from their country.

The bank, he said, has a dedicated Chinese desk to handle clients from China “and has a strong relationship with Chinese banks, including ICBC, Bank of China, and Bank of Communication”.

Earlier, the Minister for Tourism and Natural Resources, Mohamed Mchengerwa, said Tanzania was committed to showcasing its natural beauty and cultural heritage, adding that the government has already laid down strategies to tap into new markets.

Mcehgerwa said his ministry, in partnership with the Tanzania Tourist Board (TTB) and the Chinese Embassy, is preparing a “Tanzania Ready” programme that will make Tanzania more welcoming and accommodating to visitors from the Far East, especially China.