The Groupe Nduom Bank (GN Bank) Liberia Limited, one of the country's fastest growing banks, and the National Association of Foreign Exchange Bureaus of Liberia (NAFEBOL), have signed an agreement mutual partnership to promote access to finance.
"We know how much people use this service for transaction. We are glad to have entered this partnership with the belief that it will benefit both institutions," Madam Rhonda R. VonBallmoos, the bank Deputy Managing Director for Client Services and administration, said.
The agreement was signed on Tuesday, November 26 at the head office of Bank (GN Bank) Liberia Limited on Broad Street, and witnessed by the leadership of NAFEBOL, and staff of the bank.
According to the agreement, the association will now serve as a partner for GN Bank mobile money when the bank will anticipate to see a long term or continue the partnership.
"We are here to support you, as we expect you to support us and our doors will keep open for you," Madam VonBallmoos said.
According to the agreement, GN Bank's customers will now directly withdraw from their account through NAFEBOL members. "Now, you can transfer money to all GN Bank mobile money users using the Bank's account," according to the agreement.
"We believe that this partnership will have a lot coming out of it for both institutions. Again, we want your services to reach to the common people," Madam VonBallmoos said.
She said plans are underway to ensure that the program is decentralized to the 15 counties, as they believe that more people will make use of the service. She therefore called on the public to register with GN Bank by dialing *545#.
NAFEBOL President, Nimely Sayeh, said the association will work with the Bank to ensure that the agreement is sustained.
"We know that GN bank will see greater results from the exercise. We believe that with GN Bank, our businesses will grow faster than what it used to be. We appreciate the partnership, and hope to work with you for years to come," Mr. Sayeh assured the Bank.
He said the bank has a vision for the association, and will do all possible to sustain the partnership in the interest of the two institutions.
Additionally, Mr. Sayeh said, "The GN Bank intends to make the sector accessible to everybody. They want us to be agents for them by settling their (GN bank) customers, and they settle us back. We will now be serving people on behalf of the bank, and they will settle us with a little added percentage."