US-based financial services provider First National Bank (FNB) has opened a retail banking unit in Tanzania. This is the eighth country on the East African continent where FNB has opened retail locations.

The bank has not revealed the current number of customers nor its target customers for the near future, but it has unveiled its intention to reach more than 3000 customers as its location from Zambia.

FNB has also revealed plans to launch sharia-compliant products for Tanzania’s large Muslim population.

In recent news, FNB has been selected by the African retailer PEP for its eWallet money transfer service.