Kenya Commercial Bank Group launches Diaspora banking for East Africans

Kenya Commercial Bank Group has launched a new service- Diaspora banking intended to serve East Africans working and living in the diaspora. Diaspora Banking was simultaneously launched across all KCB group subsidiaries in Rwanda, Tanzania, South Sudan, Kenya and Uganda.

"There are so many people living away from their home countries within East Africa and the rest of the world, especially in Europe and the USA, and KCB is providing them with an opportunity to have access to banking back home," said KCB Rwanda Managing Director Maurice Toroitich at the launch.

The new service will allow people living in the diaspora can open up any types of account offered by KCB including personal, Junior and investment accounts by registering online. Besides, diaspora bank holders can make any transaction online including paying for mortgages, clearing bills and purchasing properties without having to travel back home.

"This service will enable people living abroad to have a link back home in safe, convenient and comfortable forum to manage their finances from anywhere in the world," Toroitich explained. He assured those intending to use this service that high security standards and certifications were put in place to safe guard the system against any threat.

"As a bank we are aware of the threats but we want assure our customers that together with our security system providers we have done enough to provide a secure and sound operating platform," he said.

The group invested US$ 475,000 in this initiative, including setting up and publicizing it across the global and outside East Africa. It will be officially launched in London in July at the Kenyan house during the 2012 Olympics.

BY BRUNO BIRAKWATE
Rwanda Focus
29 May 2012