NMB Bank Plc, Tanzania's leading bank, has recently unveiled a Chinese Yuan (CNY) Account as part of its efforts to attract more tourists from China, the world's second-largest economy. The introduction of this account will allow NMB clients to receive and send Chinese Yuan while in China, facilitating inbound and outbound transactions in the currency. The announcement was made by Benedicto Baragomwa, the Chief Internal Auditor of NMB Bank, during a forum organized for visiting travel agents from China. Highlighting the bank's capabilities, Baragomwa stated, "As the number one bank in Tanzania, we are capable of supporting loans and guarantees for a single borrower up to $135 million." The forum, held at a hotel in Arusha, aimed to assure Chinese travel agents, tour operators, and media representatives of improved services for visitors from China. NMB Bank emphasized its dedicated Chinese desk, specifically designed to cater to clients from China. The bank also highlighted its strong relationships with Chinese banks, including ICBC, Bank of China, and Bank of Communication. Addressing the gathering, the Minister for Tourism and Natural Resources, Mohamed Mchengerwa, emphasized Tanzania's commitment to showcasing its natural beauty and cultural heritage. He further revealed that the government has already devised strategies to tap into new markets. Mchengerwa, in collaboration with the Tanzania Tourist Board (TTB) and the Chinese Embassy, announced the upcoming "Tanzania Ready" program, aimed at making Tanzania more welcoming and accommodating to visitors from the Far East, with a specific focus on China. The introduction of the Chinese Yuan Account by NMB Bank signifies a proactive approach by Tanzanian financial institutions to attract Chinese tourists and boost the tourism sector. By offering convenient financial services in Chinese Yuan, NMB Bank aims to facilitate seamless transactions for visitors from China, thereby enhancing their overall experience in Tanzania