Central Bank extends operations to Rubavu

The National Bank of Rwanda (NBR) has launched a new branch in Rubavu district which officials say would bring financial services closer to businesses. Francois Kanimba, the Central Bank Governor said during the opening on Tuesday that BNR’s project of opening branches is in line with government policy of bringing financial services nearer to the community and mainly to facilitate commercial institution in their daily operations. “Rubavu service will ease and foster business between Rwanda and the Democratic Republic of Congo (DRC) since our research indicates that business is improving as relationship of two countries strengthen,” he said/”Our temporary statistics indicates that goods exported from Rwanda to DRC is above $30 million,” Kanimba added. The Central Bank has four branches in four provinces of the country including one in Musanze in the North, Huye branch in South, Rwamagana branch in Eastern province and Rusizi branch in the west. NBR is now extending its branches in busy districts including the newly opened in Rubavu. According to Kanimba, the Bank’s statistics have encouraged NBR to open the branch to decentralize the services it offers. Speaking to The New Times, Jacqueline Mugwaneza, the executive secretary of Rwanda Bankers’ Association said that BNR branch in Rubavu will help all commercial banks to ease transactions. “The commercial banks were going to Kigali or Musanze at least once every day. Their journey would be costly in terms of transport, time and manpower,” Mugwaneza added. Officials said that the Rubavu branch will offer their services to institutions and projects affiliated to government by receiving money deposited to the government’s accounts and projects affiliated to the state and managed by the central Bank. Ends

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Central Bank extends operations to Rubavu