The CEO of Bank of Kigali, Dr. Diane Karusisi has said that the revamped services allow Rwandans living abroad to acquire loans, buy shares onRwanda Stock Exchange and deposit in dollar currency.

Commenting on motives to redesign the offering for Rwandans in the diaspora to meet their banking needs, Dr. Diane Karusisi said: “We wanted to provide improved banking solutions helping them to transact as they send money to and invest in Rwanda. We are aware that they are keen on investing in Rwanda and sought to provide ground for them to be part of national economic development.”

Bank of Kigali has also assigned a team that is in charge of communicating, managing diaspora account holders and providing advisory on financials services and investment as well.

Dr. Karusisi has said that a new member of Rwandan diaspora with an existing account can be helped to convert it into a diaspora account and to get all the incentives that come with it so long as there is proof showing that that they are diaspora clients.

These include opening free opening of an account without monthly maintenance charges for new clients, depositing in different currencies including Rwandan Francs, US Dollars, Canada, CHF used in Switzerland, Euros, Pounds and making money transfers to Rwanda or withdrawing up to US$5000 without transaction charges.

According to the CEO of BK, clients should rest assured of their security considering the fact that the bank has deployed a team to manage their accounts.

Among others, the Diaspora Banking Offering allows clients a multi-tenor (1 month to 5 years) fixed term deposit account in Rwf starting from Rwf300,000 and remunerated up to 12 % as well as fixed term deposit Accounts in USD starting from USD 50,000 and remunerated up to 1.5% per annum.

A diaspora client can also get fixed term deposit accounts in US$ starting from US$ 50,000 and remunerated up to 1.5% while saving accounts in Rwf are remunerated up to 8% per year.

Mortgage loans are also provided in Rwf and US$ currencies whereby new BK clients can apply for mortgage loans immediately after opening an account.

Rwandans living abroad can apply such loans with up to 20 years tenor.

Requirements to open the account

Rwandans living abroad can visit the BK website, www.bk.rw/Diaspora , download a designated document, fill the account opening form, get it notarized by the Rwandan Embassy and send it along with their National ID Copy and passport photo to [email protected] .

The CEO of Bank of Kigali, Dr. Diane Karusisi has said that the revamped services allow Rwandans living abroad to acquire loans, buy shares onRwanda Stock Exchange and deposit in dollar currency.