RWAMAGANA — In a bid to decentralize its services, the National Bank of Rwanda [BNR] has set up a branch in the east.
The bank’s Governor Francois Kanimba, this Wednesday commissioned the branch at Rwamagana, what he described as breaking the monopoly of services since its establishment in 1964.
This latest branch to be opened upcountry makes all the four provinces covered with BNR services.
Amidst cheering, Kanimba in the company of John Rwangobwa, the Secretary General of Ministry of Finance and Economic Planning and Governor Theoneste Mutsindashyaka, cut the ribbon.
Heads of banking institutions and Microfinance institutions, district leaders and several residents witnessed the event.
“BNR took the decision to decentralize services instead of retaining them in Kigali.
This is in line with government’s policy to decentralize services taking them closer to the people who need them,” Kanimba said.
He added: “With a favorable investment climate, we have been urging banks to open branches throughout the provinces, therefore, as a bank of bankers we feel we have to extend services closer to them. Upcountry branches will render services similar to those rendered at the head office in Kigali,” Kanimba explained.
He cited monetary services, keeping money, providing foreign currencies, providing monetary exchange rates and giving monetary information as some of the services that the bank would offer.
In a separate interview when asked whether more braches would be opened up else where, Kanimba said it would be dependent on the operations of the newly opened branches and apparent need. He suggested that they would carry out research to ascertain the demand for more upcountry branches.
He however noted that if there is urgent need then agencies affiliated to provincial branches could be given a chance to operate.
Mutsindashyaka expressed enthusiasm towards the new establishment saying there was a dire need of BNR services in the area.
He said the move would be cost-effective in terms of time and other expenses previously spent on seeking their services in Kigali.
Both Kanimba and Mutsindashyaka called upon residents to open bank accounts ‘since it is free of charge in almost all banks now days’.
Kanimba however emphasized the need to use cheques during business transactions.