News

IFC and National Bank of Samoa Partner to Expand Financial Inclusion

Source: Samoa Observer

The National Bank of Samoa (nbs) is developing a suite of new banking products that would benefit women entrepreneurs and improve remittances in Samoa with the support of IFC and the New Zealand Government. The new products include tailored financial offerings for women entrepreneurs and a remittance product designed specifically for the needs of both overseas Samoans looking to send money home and their family and friends who are recipients of these remittances. 

As part of nbs’ commitment to serving the unique needs of its community, the new pioneering remittance product will be designed and developed specifically for Samoans. "Our goal is to offer a low-cost, sustainable, and reliable financial service that resonates with the Samoan way of life," said Sam Swann, CEO of nbs. “This initiative is not just about remittances; it’s about fostering financial inclusion, enabling more Samoans to embrace banking, save effectively, and access opportunities that enhance their economic well-being."