TMRC, bankers’ institute to empower lenders with mortgage skills

TMRC chief executive officer Oscar Mgaya

Dar es Salaam. Tanzania Mortgage Refinance Company (TMRC) has partnered with Tanzania Institute of Bankers (BIOT) to provide mortgage market skills to bank employees.

The five-day course expects to kick off in the second week of September, this year, according to TIOB executive director Patrick Mususa.

“We have enough space and facilities to accommodate them, banking on the available classes and local facilitators at the institute,” he said.

He asked for commercial banks to send their potential trainees to attend the course.

TMRC chief executive officer Oscar Mgaya said the mortgage market was currently growing, but its operators needed more knowledge to run it.

“We provide funds to commercial banks for the mortgage business, but it appears that lenders lack enough skills to serve their customers,” he noted.

He said that at the end of the course lenders would understand mortgage loan products and the sector’s marketing trends. He said the course will build a healthy relationship between lenders and their clients.

The director of Financial Markets at Bank of Tanzania (BoT) said the central bank was aware of the knowledge gap among lenders in the sector.

“This course is not being conducted for the first time. BoT has been doing this for years through our institute, which is based in Mwanza,” he noted.

According to him, so far at least 300 bank staff have received training from the Central Bank’s Institute in Mwanza.