CARITAS Microfinance Bank, the first bank owned by the Catholic Church in Kenya is now part of the over Kshs 60 billion micro-lending market, becoming the 12thMicrofinance Bank in Kenya and the 3rdto be licensed 2015.
Caritas MFB was granted a nation-wide license last week on Thursday 11th June, 2015. The bank was officially opened yesterday in an event hosted by His Eminence John Cardinal.
The bank projects to have 10,000 retail customers and 200 corporate customers by the end of this year.
According to a press statement sent to all media institutions and uploaded on the Central Bank of Kenya’s website, the bank will adopt a social and competitive pricing approach and a two-pronged distribution strategy-branches and marketing offices.
Caritas Microfinance Bank arises from the development of the self-help programme which has been in existence for over three decades in the Archdiocese of Nairobi.
The bank will be offering an array of products, tackling the challenges of giving more banking products, quality services and at affordable rates, targeting millions of customers nation-wide and making funds accessible to the 30% of the unbanked population in Kenya.
Caritas Microfinance Bank Products
Nawiri Account
A savings account designed for customers who require easy access to their accounts through mobile banking and ATMs.
Baraka Transactional Current
This account affords easy access to the holder’s cash at all times using various channels: Cheques, over the counter, ATM, POS, mobile banking, internet banking etc targeting business owners, individuals and corporates.
Liquid Transactional
This account affords easy access to the holder’s cash at all times using various channels: Cheques, over the counter, ATM, POS and mobile banking. It is suitable for small scale business clients who need access to cash at all times but do not need a cheque book.
Maono Contractual Savings
Ideal for regular saving on a weekly or monthly basis for projects, benevolence, school fees, holiday, pilgrimage etc and it targets groups, joint account holders and individuals.
Group Link Transactional
This account is targeted at Caritas Nairobi Self Help Programme groups. The account affords easy access to the holder’s cash at all times using various channels: Over the counter, ATM, POS, mobile banking and others as availed.
Group Link Transactional Current
This account is targeted at members of Caritas Nairobi Self Help Programme groups’. The account affords easy access to the holder’s cash at all times using various channels: Over the counter, ATM, POS, mobile banking and others as availed.
Junior Savings
This is a product for parents and guardians wishing to save towards a child-oriented goal: School fees, hospital bills etc. Parents can save regularly to build the account. There is a restriction on the number of withdrawals one can make to 3X a year.
Hazina Fixed
This product is designed for individuals, joint account holders, groups and institutions with medium to long term savings ambitions. A lump sum is deposited for a fixed period of time at a fixed interest rate.
Caritas Microfinance Bank Contacts
Caritas Microfinance Bank Ltd
Postal Address: P.O. Box 15352 – 00100, Nairobi, Kenya
Telephone: 020-2422334 / 0733678038
Email: info@caritas-mfb.co.ke
Website: www.caritas-mfb.co.ke
Physical Address:Cardinal Maurice Otunga Plaza, Kaunda Street
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