Deputy Commissioner of Insurance, Ms. Khadija Said, officially launched the PBZ Bancassurance service of the People's Bank of Zanzibar (PBZ), July 23, 2024, in Zanzibar.

This brief ceremony brought together stakeholders from the insurance sector, including insurance companies that will collaborate with PBZ to provide insurance services through the bank.

PBZ Bank has made significant developmental strides as insurance services will now be available at all PBZ branches, both in urban and rural areas, with the main slogan being "Where there is banking service, insurance is available."

The Bank Insurance Agency service in the country has continued to grow rapidly, reaching up to 15% this year alone. This shows how well this service has been received by the public.

"This situation brings great hope that we are on the right track to ensure that every Tanzanian receives quality insurance services through bank agents," said the Deputy Commissioner of Insurance, Ms. Khadija Said.

Furthermore, Ms. Khadija urged all bank insurance agents to follow the guidelines set in providing bancassurance services to ensure the insurance market remains sustainable.

The Deputy Commissioner also praised the insurance companies that have already joined PBZ but also urged those who have not yet joined PBZ to do so to increase competition in providing better insurance services to Tanzanians.

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