November 27, 2020

EastAfrica Herald

East African Views on Global News.

NMB Bank Launches ATM’s Converting Foreign Currency.


Financial Sector Management Director from the Bank of Tanzania – Jerry Sabi exchanging foreign currency to Tanzanian shillings at ATMs, marking the official launch of the cash machine. Witnessing is NMB Chief Executive Officer, Ms. Ruth Zaipuna and NMB’s Chief Technology and Digital Transformation Officer – Pete Novat (left)


19th November – NMB Bank to launched today the first Automated Teller Machine (ATM) in Tanzania capable of converting foreign currency into Tanzanian shillings.

This is an important milestone for NMB Bank to provide services to Tanzanians traveling abroad and tourists coming to Tanzania.

These ATMs will be located at major airports in the country which are Julius Nyerere International Airport, Kilimanjaro Airport and Abeid Amani Karume Airport in Zanzibar, so that they can be used by travelers entering and leaving the country in need of Tanzanian or foreign currency.

Speaking at the launch, NMB Chief Executive Officer, Ms. Ruth Zaipuna stated, NMB customers and non-customers can now convert up to $ 2,000 at a time to NMB Bank’s exchange rates by self-service using new ATMs capable of converting cash.

NMB has started with US Dollar, the European Euros and the British Pound to convert to the Tanzanian shilling. They have started with all three types of currencies but will soon be adding to other currencies as well.

Model and Business Woman – Nancy Sumari with the Head of Sales – NMB Bank Treasury Department, Jeremiah Lyimo enjoying the service of exchanging foreign currency to Tanzanian shillings at an NMB Bank ATM machine.

The Official Guest of Honor at the launch Director of Financial Sector Management from the Bank of Tanzania – Jerry Sabi commended NMB Bank for being the first to bring this service to the country which is here to provide a solution for access of foreign exchange services following the closure of currency exchange in the country.

He said the government urged commercial banks to support and ensure that currency exchange services in the country are easily accessible.

This means that the process of exchanging currency will now be easier and faster and specifically when these machines are installed at these airports.

NMB Bank has done this work with great professionalism and innovation and now they have come with a technological solution to increase the availability of this service which has been provided by all their branches in the country. Therefore, the presence of ATMs to convert money will help to ensure that such services are accessible at any time (24 hours) and more easily and secure.