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Badilisha Lugha KISWAHILI

NMB: Be cautious with Tanzania Loans Society

14th February 2013
National Microfinance Bank (NMB)

The National Microfinance Bank (NMB) has alerted the public especially their customers to beware of an organisation identified as Tanzania Loans Society which claims to be an affiliate of the bank and is issuing loans.

The bank’s Management said in a statement issued yesterday that the alleged organisation, through its website, claims to disburse loans sponsored by NMB through the banks’ branch managers.

The NMB management also said that the society has also indicated that loan application forms and registration fees can be remitted through a mobile phone number…“We have to inform our customers and the public to beware of such people.”

According to NMB, the bank does not have any business that is affiliated to the said society. NMB only issues loans through branches and under no circumstances are application fees or loans remitted through mobile phones.

The bank stressed: “Customers and the general public are hereby cautioned not to engage with this society on any transaction involving NMB Plc. The bank shall not be held responsible for any transaction or agreement transacted with the Tanzania Loans Society”.



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