Bank of Kigali has announced the waiving of monthly account maintenance fees on all personal accounts in local currency, in a move to promote financial inclusion.

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The decision announced on January 25, comes as a testament of the bank’s commitment to empower people across the income spectrum to participate fully in the formal financial sector.

Diane Karusisi, CEO at Bank of Kigali said: "By waiving monthly account charges for our retail customers, we are breaking down barriers and making banking more inclusive. This decision reflects our commitment to serving the entire community and creating a more equitable financial landscape in Rwanda.”

This strategic decision aligns with the bank’s objective to make banking more accessible to all and attract a diverse range of customers including the unbanked and underserved groups, officials added.

In addition to waiving monthly charges on local currency accounts, the bank also revised transfer to mobile wallet fees and will be accepting third party cheques at zero cost.

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"Bank of Kigali encourages both existing and prospective customers to take advantage of these enhancements and explore the diverse range of banking products and services it offers.”

The lender has been making strides in digital transformation across its service offerings, allowing customers to tap into financial services remotely.

Bank of Kigali has been recognized as the best bank in Rwanda for the third consecutive year by Global Finance, an international magazine with an experience of 35 years in financial reporting.

The banking institution is a subsidiary of BK Group which has four other subsidiaries — BK Insurance, BK TecHouse, BK Foundation and BK Capital.